This paper is a quasi-replication of Andersson (2019). I use the synthetic control method to estimate the effect of a carbon tax starting at $1.41 per tonne of CO2 and increased through successive reforms to $20 by 2011. The results show that, one year after the intervention, the tax reduced CO2...

An influential emerging literature, led by Bolton and Kacperczyk (2021a), documents strong correlations between unscaled raw emissions and both stock returns and operating performance. We re-examine that data, using a sample of 2,729 U.S. firms from 2005-2019, and conclude that the associations...

This study examines the paradox that the path of realized global warming by a given year is linear in cumulative emissions of carbon dioxide even though the corresponding eventual equilibrium warming is only logarithmic in atmospheric concentration. It then provides parameters for this linear...

Even though climate change will require a global solution, the efforts of individual nations and sub-national governmental units have become increasingly important for demonstrating leadership in creating effective regulatory programs and possible solutions. California's Global Warming Solutions...