Technological progress plays an important role in combating haze pollution in the long run. However, existing studies often ignore the inconsistent effects on the reduction of haze brought by different types of technological progress. Considering the potential heterogeneity among technological...

We propose that general purpose technologies (GPTs) — a class of technologies that have pervasive impacts on the economy and spill over across countries — are a source of non-diversifiable technology risk in international stock markets. We construct an empirical GPT factor from patent data...