Herein we study carbon taxation considering the structure of the global production network. With this purpose we characterize how the implementation of a carbon tax in one country-sector can generate sizeable fluctuations on global emissions and welfare through its impact on the structure of production.
In this study, we empirically estimate the impact of quality regulation based on economic incentives on the frequency and duration of power outages. Our results show that on average, private firms had a better quality performance, but the worst performing firms in the region were also private. Our results advocate for more quality regulation.
Balancing development and climate sustainability is a critical issue confronting nations worldwide. This is the core focus of our new journal, Development and Sustainability in Economics and Finance (DSEF). This article provides an initial overview of the type of research DSEF seeks to publish.
We exploit new data on NGO campaigns that target banks financing fossil fuels (« brown » banks) to build a measure of French banks’ environmental reputation, which we merge with granular data on bank deposits and loans of households in France over 2010-2020. We find that banks receive relatively fewer household deposits when they are perceived as browner.
This paper studies climate-related central bank communication using a novel dataset containing 35,487 speeches delivered by 131 central banks from 1986 to 2023. It employs natural language processing techniques to identify and trace the evolution of key climate-related narratives centred around (i) green finance, and (ii) climate-related financial risks. Equity returns of « green » firms outperform those of « dirty » firms when central banks engage more frequently and intensely with climate-related topics.
This paper leverages a new method in the construction of credible counterfactuals for causal inference. This paper adopts a Bayesian structural time series (BSTS) modeling framework alongside a set of contemporaneous predictors related to power sector emissions to build counterfactual estimates of emissions for each post-intervention period and analyze the policy implementation effect by comparing actual emissions with counterfactual estimates.
