Smirnyagin, Vladimir; Tsyvinski, Aleh; Wu, Xi - National Bureau of Economic Research - 2024
show that the dynamics of direct taxes (environmental regulations) and indirect taxes (environmental concerns), non …Analyzing the universe of federal environmental regulations in the U.S., we construct a measure of regulations--direct … taxes on pollution. Analyzing the universe of firms' investor disclosures, we construct a measure of material environmental …