engage in less green R&D investment, patent applications, and research staff. Industries that are heavy emitters and those …Government subsidies are often used to stimulate environment-friendly investment. We find that Chinese firms reduce … green investment as the uncertainty of subsidies rises. This effect is identified from weather-driven fluctuations in air …

equilibrium feedback accounts for the observed comovement between investment and innovation, provides a powerful propagation …We analyze the role of endogenous capital-embodied innovation in macroeconomic dynamics. We first leverage a newly …-goods producers drops during recessions. We then develop a model of lumpy investment with heterogeneous firms and endogenous …