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Is Physical Climate Risk Priced? Evidence from Regional Variation in Exposure to Heat Stress

Acharya, Viral V.; Johnson, Tim; Sundaresan, Suresh M.; … - National Bureau of Economic Research - 2022

We exploit regional variations in exposure to heat stress to study if physical climate risk is priced in municipal and …

Persistent link: https://www.econbiz.de/10013388801

Designing Fuel-Economy Standards in Light of Electric Vehicles

Gillingham, Kenneth - National Bureau of Economic Research - 2021

Electric vehicles are declining in cost so rapidly that they may claim a large share of the vehicle market by 2030. This paper examines a set of practical regulatory design considerations for fuel-economy standards or greenhouse gas standards in the context of highly uncertain electric vehicle...

Persistent link: https://www.econbiz.de/10012599357

Three Myths about Federal Regulation

McLaughlin, Patrick A. - 2020

Despite evidence to the contrary, three common myths persist about federal regulations. The first myth is that many regulations concern the environment, but in fact only a small minority of regulations are environmental. The second myth is that most regulations contain quantitative estimates of...

Persistent link: https://www.econbiz.de/10012481816

Price Limits in a Tradable Performance Standard

Wang, Banban; Pizer, William A.; Munnings, Clayton - National Bureau of Economic Research - 2021

Tradable performance standards are widely used sectoral regulatory policies. Examples include the US lead phasedown, fuel economy standards for automobiles, renewable portfolio standards, low carbon fuel standards, and--most recently--China's new national carbon market. At the same time, theory...

Persistent link: https://www.econbiz.de/10012482586

Incomplete Environmental Regulation, Imperfect Competition, and Emissions Leakage

Fowlie, Meredith - 2008

For political, jurisdictional and technical reasons, environmental regulation of industrial pollution is often … regulated producers are less polluting than their unregulated ounterparts, emissions under incomplete regulation can exceed the … level of emissions that would have occurred in the absence of regulation. Converseley, when regulated firms are relatively …

Persistent link: https://www.econbiz.de/10012464226

Regulating Untaxable Externalities : Are Vehicle Air Pollution Standards Effective and Efficient?

Jacobsen, Mark R.; Sallee, James M.; Shapiro, Joseph S.; … - National Bureau of Economic Research - 2022

assess the effectiveness and efficiency of these standards, which are the centerpiece of US Clean Air Act regulation of …

Persistent link: https://www.econbiz.de/10013477194

Q-Monetary Transmission

Jeenas, Priit; Lagos, Ricardo - National Bureau of Economic Research - 2022

We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We develop a theory of the mechanism, provide empirical evidence, evaluate the ability of the quantitative theory to match the evidence, and quantify the relevance for monetary...

Persistent link: https://www.econbiz.de/10013210051

The Secular Decline in Private Firm Leverage

Dobridge, Christine L.; Gilje, Erik P.; Whitten, Andrew - National Bureau of Economic Research - 2022

Using firm-level administrative tax data on the 43% of business liabilities in the United States tied to privately held firms, we document dramatic reductions in leverage since the Great Recession. Leverage for the average private firm fell fifteen percent between 2004 and 2018. In contrast,...

Persistent link: https://www.econbiz.de/10013210062

Taxes Depress Corporate Borrowing : Evidence from Private Firms

Ivanov, Ivan T.; Pettit, Luke; Whited, Toni Marion - National Bureau of Economic Research - 2024

We use variation in state corporate income tax rates to re-examine the relation between taxes and corporate leverage. Contrary to prior research, we find that corporate leverage rises after tax cuts for small private firms. An estimated dynamic equilibrium model shows that tax cuts make capital...

Persistent link: https://www.econbiz.de/10014544677

Monetary Transmission Through Bank Securities Portfolios

Greenwald, Daniel; Krainer, John; Paul, Pascal - National Bureau of Economic Research - 2024

We study the transmission of monetary policy through bank securities portfolios using granular supervisory data on U.S. bank securities, hedging positions, and corporate credit. Banks that experienced larger losses on their securities during the 2022-2023 monetary tightening cycle extended less...

Persistent link: https://www.econbiz.de/10014544727

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