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Fuel economy standards and public transport
Berger, Julius; Marz, Waldemar - 2024
We identify and examine a novel welfare channel of fuel economy standards through the in-teraction with public transit and households’ location choices. A stricter emission standard for cars decreases the marginal cost of driving and triggers a shift in modal choice from public to private...
Persistent link: https://www.econbiz.de/10014516218
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Environmental policy and innovation : a decade of research
Popp, David - 2019
Encouraging innovation is an important part of environmental policy. A large literature in environmental economics examines the links between environmental policy and innovation. This paper reviews recent literature on green innovation. I highlight major trends in the literature, including an...
Persistent link: https://www.econbiz.de/10011983674
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Prices versus quantities reassessed
Karp, Larry S.; Traeger, Christian - 2018
"Prices versus quantities" (Weitzman 1974), a hugely influential paper, is widely cited (and taught) in current debates about the best policy to reduce greenhouse gas emissions. The paper's criterion for ranking policies suggests that technological uncertainty favors taxes over cap and trade....
Persistent link: https://www.econbiz.de/10011927948
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Optimal stabilization in an emission permits market
Gerlagh, Reyer; Wan, Roweno J.R.K - 2018
We develop a 2-period emission trading model for a stock pollutant with demand shocks resolving over time. We find precise conditions for efficiency of a stabilization mechanism where cumulative available permits decrease with excess supply in early periods. Our model describes the stabilization...
Persistent link: https://www.econbiz.de/10011810102
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Regulating stock externalities
Gerlagh, Reyer; Heijmans, Roweno - 2018
We develop a dynamic regulation game for a stock externality under asymmetric information and future market uncertainty …. Within this framework, regulation is characterized as the implementation of a welfare-maximization program conditional on …
Persistent link: https://www.econbiz.de/10011939765
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Decentralized environmental regulations and plant-level productivity
Ghosal, Vivek; Stephan, Andreas; Weiss, Jan F. - 2018
and enforcement. Our key findings are: (1) prudential regulation limits expansion of plants with high initial pollution … regulated due to its historically large contribution to air and water pollution. Our paper contributes to the broader empirical … literature on the Porter Hypothesis, which posits a positive relationship between environmental regulation and "green" TFP growth …
Persistent link: https://www.econbiz.de/10011906240
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Smart cap
Karp, Larry S.; Traeger, Christian - 2021
We introduce a "smart" cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty”). This cap responds endogenously to technology or macroeconomic shocks, relying on the market price of certificates to aggregate information. It allows policy makers to...
Persistent link: https://www.econbiz.de/10012438358
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Green governments
Potrafke, Niklas; Wüthrich, Kaspar - 2020
We examine how Green governments influence macroeconomic, education, and environmental outcomes. Our empirical strategy exploits that the Fukushima nuclear disaster in Japan gave rise to an unanticipated change in government in the German state Baden-Wuerttemberg in 2011. The incumbent rightwing...
Persistent link: https://www.econbiz.de/10012319437
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Financial stability and the Fed : evidence from congressional hearings
Wischnewsky, Arina; Jansen, David-Jan; Neuenkirch, Matthias - 2019 - This version: May 2019
This paper retraces how financial stability considerations interacted with U.S. monetary policy before and during the Great Recession. Using text-mining techniques, we construct indicators for financial stability sentiment expressed during testimonies of four Federal Reserve Chairs at...
Persistent link: https://www.econbiz.de/10012024389
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Does scientific progress affect culture? : a digital text analysis
Giorcelli, Michela; Lacetera, Nicola; Marinoni, Astrid - 2019
We study the interplay between scientific progress and culture through text analysis on a corpus of about eight million books, with the use of techniques and algorithms from machine learning. We focus on a specific scientific breakthrough, the theory of evolution through natural selection by...
Persistent link: https://www.econbiz.de/10011966910