Känzig, Diego R.; Konradt, Maximilian; Wang, Lixing; … - National Bureau of Economic Research - 2025
This paper examines the relationship between green innovation and the business cycle, revealing that while non …-green innovation is procyclical, green innovation is countercyclical. This pattern holds unconditionally over the business cycle and …-green innovation to explain their distinct cyclical behavior. The key mechanism operates through a 'green is in the future' channel …