By investigating the general equilibrium effects with theoretical analysis and computational experiments, we find that the value share of polluting input is a sufficient statistic for the welfare incidence of a quantity-based policy in a competitive economy for short-term and commonly...

While past studies have enriched our understanding of the impact of returnee executives on firm market strategy and outcomes, we know relatively little about the relationship between returnee executives and firm nonmarket strategies. Grounded in upper echelons theory, this study explores the...

This paper builds a dynamic multisector model to investigate the importance of sectoral productivity shocks and production linkages in accounting for business cycles in China. With structural parameters and sectoral productivity shocks calibrated to 46 industrial sectors, the model simulation...

This paper aims to better predict highly skewed auto insurance claims by combining candidate predictions. We analyze a version of the Kangaroo Auto Insurance company data and study the effects of combining different methods using five measures of prediction accuracy. The results show the...

This paper studies when and under what conditions the actions undertaken by the power plants involved in China's emission trading scheme (ETS) pilot became cost-effective. Based on unique plant-level panel data and the difference-in-differences strategy, we identify that an insignificant initial...

Internal carbon pricing (ICP) has emerged as an increasingly popular tool for firms to cut emissions and combat climate change risks. We theorize the role of ICP by integrating legitimacy and stakeholder perspectives into dynamic capability theory. We argue that firms implement ICP to comply...