We establish a causal link between carbon emissions and shareholder value using the passage of the Regional Greenhouse Gas Initiative (RGGI) that imposed a cap-and-trade policy for carbon emission on electric utilities in several Northeastern and Mid-Atlantic states. The regulation was...

After the introduction of a nationwide Unified Payment Interface (UPI) in 2016, India has become one of the world's leading economies for cashless transactions. We exploit the heterogeneity in the intensity of the adoption of digital payments across districts to show that the household income...