The increase in institutional ownership, the shift towards passive portfolio management and the rise of common ownership have transformed OECD countries financial markets in the last decades. The paper investigates the potential consequences of these transformations on firm's productivity, using...

In the context of an Emission Trading Scheme (ETS), we study how uncertainty over the policy parameter affects firms' investment in low carbon technologies. We develop a three period sequential model that combines the two sectors regulated by the scheme and encompasses both irreversible and...

Are environmental policies affected by the political cycle? This paper investigates if environmental spending is used as pork barrel with signaling purposes. It develops a two-period model of electoral competition where politicians use current policies to signal their preferences to rational,...

Unilateral climate policies are often accompanied by exemptions for energy-intensive and trade-exposed industrial firms to avoid leakage from regulated to unregulated jurisdictions. This paper investigates the impact of a large electricity tax exemption on production levels, employment, and...

Environmental policies are often accompanied by exemptions for energy-intensive and trade-exposed industrial firms to avoid leakage from regulated to unregulated jurisdictions. This paper investigates the impact of a large electricity tax exemption on production levels, employment, and input...

The expansion of the share of renewable energy in the portfolio mix of the electricity generation sector has accelerated the development and integration of large-scale battery storage facilities. We document charging and discharging patterns in the California market and show how battery activity...

Intensive promotional marketing campaigns can be used to introduce products to consumers with the goal of increasing awareness, consideration, purchase, and word-of-mouth (WOM). In this paper, we study the role of campaign duration on solar photovoltaic adoption using a large-scale field...