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Dirty Air and Green Investments : The Impact of Pollution Information on Portfolio Allocations

Fisman, Raymond; Ghosh, Pulak; Sarkar, Arkodipta; … - National Bureau of Economic Research - 2023

We study exposure to pollution information and investment portfolio allocations, exploiting the rollout of air quality monitoring stations in India. Using a triple-differences framework, we show that retail investors' investments in "brown" stocks are negatively related to local air pollution...

Persistent link: https://www.econbiz.de/10014421239

Noise in Expectations : Evidence from Analyst Forecasts

De Silva, Tim - National Bureau of Economic Research - 2021

This paper quantifies the amount of noise and bias in analysts' forecast of corporate earnings at various horizons. We … next decompose the relative accuracy of these forecasts into three components: (i) noise, (ii) bias and (iii) analysts … both noise and bias are increase linearly. We then show most existing models lack a mechanism to account for these facts …

Persistent link: https://www.econbiz.de/10012585447

Behavior Mediates the Health Effects of Extreme Wildfire Smoke Events

Heft-Neal, Sam; Gould, Carlos F.; Childs, Marissa; … - National Bureau of Economic Research - 2023

Air pollution is known to negatively affect a range of health outcomes. Wildfire smoke is an increasingly important contributor to air pollution, yet extreme smoke events are highly salient and could induce behavioral responses that alter health impacts. We combine geolocated data covering the...

Persistent link: https://www.econbiz.de/10014226166

Decomposing Trends in U.S. Air Pollution Disparities from Electricity

Hernandez-Cortes, Danae; Meng, Kyle C.; Weber, Paige E. - National Bureau of Economic Research - 2022

This paper quantifies and decomposes recent trends in U.S. PM2.5 disparities from the electricity sector using a high-resolution pollution transport model. Between 2000-2018, PM2.5 concentrations from electricity fell by 89% for the average individual, more than double the decline rate in...

Persistent link: https://www.econbiz.de/10013334416

Wildfire Influence on Recent US Pollution Trends

Burke, Marshall; Childs, Marissa L.; Cuesta, Brandon de la - National Bureau of Economic Research - 2023

Steady improvements in ambient air quality in the US over the past several decades have led to large public health benefits, and the policies that helped drive these improvements are considered landmarks in successful environmental policymaking. However, recent trends in PM2.5 concentrations, a...

Persistent link: https://www.econbiz.de/10013537776

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

What is a feasible and efficient policy to regulate air pollution from vehicles? A Pigouvian tax is technologically infeasible. Most countries instead rely on exhaust standards that limit air pollution emissions per mile for new vehicles. We assess the effectiveness and efficiency of these...

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

Do Cities Mitigate or Exacerbate Environmental Damages to Health?

Molitor, David; White, Corey D. - National Bureau of Economic Research - 2023

Do environmental conditions pose greater health risks to individuals living in urban or rural areas? The answer is theoretically ambiguous: while urban areas have traditionally been associated with heightened exposure to environmental pollutants, the economies of scale and density inherent to...

Persistent link: https://www.econbiz.de/10014447311

Smoke from Factory Chimneys : The Applied Economics of Air Pollution in the Progressive Era

Banzhaf, H. Spencer; Walsh, Randall P. - National Bureau of Economic Research - 2024

Like today, one hundred years ago air pollution was a matter of grave concern in the world's most polluted cities. In the wake of its famous 1908-9 social survey, the City of Pittsburgh commissioned an "Economic Survey of Pittsburgh" from John T. Holdsworth, a prominent institutional economist...

Persistent link: https://www.econbiz.de/10014528368

Forecasting Stock Market Returns : The Sum of the Parts is More than the Whole

Ferreira, Miguel A. - 2008

We propose forecasting separately the three components of stock market returns: dividend yield, earnings growth, and price-earnings ratio growth. We obtain out-of-sample R-square coefficients (relative to the historical mean) of nearly 1.6% with monthly data and 16.7% with yearly data using the...

Persistent link: https://www.econbiz.de/10012464077

Market Reactions to Tangible and Intangible Information

Daniel, Kent - 2003

We decompose stock returns into components attributable to tangible and intangible information. A firm's tangible return is the component of its return attributable to fundamental accounting-performance information, and its intangible return is the component which is orthogonal to this...

Persistent link: https://www.econbiz.de/10012468955

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