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Asset pricing and the carbon beta of externalities J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-03-14 Ottmar Edenhofer, Kai Lessmann, Ibrahim Tahri
Climate policy needs to set incentives for investors who face imperfect, distorted markets and large uncertainties about the costs and benefits of abatement. These investors decide on uncertain investments according to their expected return and risk (carbon beta). We study carbon pricing and financial incentives in a consumption-based asset pricing model distorted by technology spillovers and time-inconsistency
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Nature’s decline and recovery – Structural change, regulatory costs, and the onset of resource use regulation J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-03-09 Marie-Catherine Riekhof, Frederik Noack
Many renewable natural resources have been extracted beyond sustainable levels. While some resource stocks have recovered, others are still over-extracted, causing substantial economic losses. This paper develops a model motivated by empirical facts about resource use and regulation to understand these patterns. The model is a dynamic model of a dual economy with technological progress, structural
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Implicit carbon prices: Making do with the taxes we have J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-03-08 Elisa Belfiori, Armon Rezai
Climate and fiscal policy interact closely. The former imposes explicit prices for carbon emissions, while the latter affects emissions implicitly. We study the correspondence between explicit and implicit carbon pricing of a Ramsey-optimal fiscal policy in a neoclassical growth model of climate change. Our central result is that any arbitrary sequence of explicit carbon prices can be achieved implicitly
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Love of variety and the welfare effects of trade in renewable resources J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-03-06 Isha Dube, Martin Quaas
We analyze welfare effects of trade in renewable resources, which is induced by consumer love of variety in resource consumption. We model two countries, one being relatively wealthy in labor and capital, the other one being relatively resource abundant. For open-access resources, we show that trade freeness benefits the country that is wealthy in labor and capital, as it improves access to a larger
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On the perils of environmentally friendly alternatives J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-03-06 Francisco Alpizar, Fredrik Carlsson, Gracia Lanza
Environmentally friendly alternatives (EFA) are touted as a key component of a transition towards lowering the impact of human activity on the environment. Still, the environmental costs of these technologies are seldom null; they are simply less environmentally damaging than existing options. In this paper, we investigate consumer behavior when an EFA is introduced. Using a carefully constructed field
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Ocean salinity, early-life health, and adaptation J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-03-06 Amanda Guimbeau, Xinde James Ji, Zi Long, Nidhiya Menon
We study the effects of exposure to climate change induced high ocean salinity levels on children's anthropometric outcomes. Leveraging six geo-referenced waves of the Bangladesh Demographic and Health Surveys merged with gridded data on ocean salinity, ocean chemistry and weather indicators (temperature, rainfall and humidity) from 1993 to 2018, we find that a one standard deviation increase in in
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Early warning systems, mobile technology, and cholera aversion: Evidence from rural Bangladesh J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-03-02 Emily L. Pakhtigian, Sonia Aziz, Kevin J. Boyle, Ali S. Akanda, S.M.A. Hanifi
In Bangladesh, cholera poses a significant environmental health risk. Yet, information about the severity of cholera risk is limited as risk varies over time and changing weather patterns make historical cholera risk predictions less reliable. In this paper, we examine how households use geographically and temporally personalized cholera risk predictions to inform their beliefs and behaviors related
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Pollution and learning: Causal evidence from Obama’s Iran sanctions J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-03-02 Anthony Heyes, Soodeh Saberian
We provide evidence of a substantial impact of pollution in the vicinity of a school on student learning using standardized test results from the universe of Tehran junior schools. The 2010 US sanctions prevented the sale of refined petroleum products to Iran. Causal identification exploits that the impact of sanctions on air quality in the vicinity of schools in the city varied according to the proximity
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International environmental agreements when countries behave morally J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-03-02 Thomas Eichner, Rüdiger Pethig
In the game-theoretical literature on forming international environmental agreements (IEAs) countries use to be self-interested materialists and stable coalitions are small. This paper analyzes IEA games with identical countries that exhibit Kantian moral behavior. Kantians are concerned with doing the right thing which means that they take those actions and only those actions that they advocate all
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Taxes versus quantities reassessed J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-29 Larry Karp, Christian Traeger
The ongoing debate concerning the ranking of taxes versus cap and trade for climate policy begins with Weitzman’s (1974) seminal slopebased criterion and concludes that taxes likely dominate quotas. We challenge this conclusion and the intuition behind it. Because technology shocks and pollution stocks are both persistent, a technology shock alters the intercepts of both the marginal damage and abatement
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Beyond the annual averages: Impact of seasonal temperature on employment growth in US counties J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-28 Ha Minh Nguyen
Using quarterly temperature and employment data between 1990 and 2021, this paper uncovers nuanced evidence on the impact of seasonal temperature within US counties: higher winter temperature increases private sector employment growth while higher summer temperature decreases it. The impacts of higher temperature in milder seasons, fall and spring, are statistically insignificant. Moreover, the negative
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On breadth and depth of climate agreements with pledge-and-review bargaining J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-27 Thomas Eichner, Mark Schopf
This paper analyzes the effects of partial cooperation on the breadth and depth of climate agreements in dynamic games in which countries emit, invest in green technology, decide to participate in a climate coalition and participants negotiate the contract duration. When choosing emissions reductions (pledges), coalition countries apply Harstad’s (2023a) pledge-and-review bargaining and partially cooperate
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Strategic pricing, lifespan choices and environmental implications of peer-to-peer sharing J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-27 Francisco J. André, Carmen Arguedas, Sandra Rousseau
Peer-to-peer sharing has become increasingly popular in recent years. Many digital platforms exist that allow individuals to use others’ belongings part-time. These platforms explicitly mention their green credentials, as the environmental benefits of such sharing initiatives are often taken for granted. However, there is a recent empirical literature showing evidence of the contrary. We propose a
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Emission trading schemes and cross-border mergers and acquisitions J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-24 Yajie Chen, Dayong Zhang, Kun Guo, Qiang Ji
The Emission Trading Scheme (ETS) provides a market mechanism to mitigate carbon emissions and has been introduced in many countries. Its fundamental idea is to make carbon emissions costly. Consequently, firms undertaking cross-border expansions may have to consider this extra cost when entering markets with an ETS. They may avoid these countries or relocate their investment to countries without an
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Benefits of diesel emission regulations: Evidence from the World's largest low emission zone J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-19 Cheolmin Kang, Mitsuru Ota, Koichi Ushijima
We examined the impact of diesel emission regulations on air quality, land prices, and infant health in the Tokyo metropolitan area. The results reveal that as air pollution concentrations improved, land prices increased more in areas with higher diesel vehicle traffic, even after controlling for non-regulated vehicle traffic. In contrast, the concentrations of non-regulated air pollutants were unaffected
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Panel data in environmental economics: Econometric issues and applications to IPAT models J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-19 Tobias Eibinger, Beate Deixelberger, Hans Manner
This paper addresses econometric challenges arising in panel data analyses related to IPAT (environmental Impact of Population, Affluence and Technology) models and other applications typically characterized by a large- and large- structure. This poses specific econometric complexities due to nonstationarity and cross-sectional error correlation, potentially affecting consistent estimation and valid
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Sufficient statistics for climate change counterfactuals J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-10 Pierre Mérel, Emmanuel Paroissien, Matthew Gammans
Recent years have seen a growing interest among empiricists in exploiting random weather fluctuations to identify climate change impacts, yet a clear understanding of the conditions under which short-run weather effects can reveal long-run climatic impacts is lacking. We derive necessary and sufficient conditions for weather fluctuations to systematically identify the marginal effect of climate on
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The impact of hydrogeological events on firms: Evidence from Italy J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-10 Stefano Clò, Francesco David, Samuele Segoni
Using a novel dataset of natural disasters affecting Italy from 2010 onward, we investigate the impact of hundreds of hydrogeological events on firms’ survival and performance. Despite being less extreme, these events are increasingly frequent and geographically widespread, this constituting a relevant but unexplored topic in the natural disasters literature. In order to assess the impact of multiple
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Within-country leakage due to the exemption of small emitters from emissions pricing J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-09 A, n, t, o, n, i, a, , K, u, r, z
I show how the exemption of small-scale emitting firms from emissions pricing results in within-country emissions leakage — an emissions price increase for the regulated firms prompts an increase in the emissions of the unregulated. I use a heterogeneous firm model in which a fixed share of firms is subject to emissions pricing. The firms at the lower part of the productivity distribution benefit from
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Municipal building codes and the adoption of solar photovoltaics J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-07 Stefano Carattini, Béla Figge, Alexander Gordan, Andreas Löschel
Conflicting societal goals can lead to national and local policies that are at odds with each other. National policies promoting the adoption of solar photovoltaics may be counteracted by local policies defining the aesthetics of the built environment. As solar photovoltaic energy approaches grid parity globally, non-pecuniary barriers to the adoption of this important renewable energy source become
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Do residential property assessed clean energy (PACE) financing programs affect local house price growth? J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-05 Melanie I. Millar, Roger M. White
The objective of residential Property Assessed Clean Energy (PACE) programs is to increase environmentally friendly home renovations, like solar panel installations, for private residences by making financing more readily available. Local governments use municipal bond proceeds to finance PACE loans that are secured via a property tax lien on the affected residence and repaid through temporarily higher
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Screening green innovation through carbon pricing J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-01 Lassi Ahlvik, Inge van den Bijgaart
Effective climate change mitigation requires green innovation, but not all projects have equal social value. We examine the role of innovation heterogeneity in a model where the policy maker cannot observe innovation quality and directly subsidize the socially most valuable green innovations. We find that carbon pricing works as an innovation screening device; this creates a premium on the optimal
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Complementarity between labor and energy: A firm-level analysis J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-02-01 Lucas Bretschger, Ara Jo
This paper extends the literature on the potential negative employment effects of environmental policy by bringing to the fore a key factor that directly regulates its magnitude: the elasticity of substitution between labor and energy. Using firm-level data from the French manufacturing sector and addressing endogeneity concerns, we provide empirical estimates that point to strong complementarity between
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The strategic role of adaptation in international environmental agreements J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-01-31 Anna Viktoria Rohrer, Santiago J. Rubio
This paper investigates the impact of the timing of adaptation on the stability of international environmental agreements (IEAs) for different levels of cooperation. This issue is addressed by solving a three-stage coalition formation game in a Nash-Cournot setting. In the first stage, countries decide non-cooperatively on their participation in an IEA. Then, depending on the timing, countries decide
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The political climate trap J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-01-30 Josse Delfgaauw, Otto Swank
We develop a simple political-economic model of a climate trap. We apply our model to gasoline taxes, which vary dramatically across countries. Externalities cannot fully account for this. Our model shows that group interests, resulting from the composition of a country’s car fleet, can explain differences in gasoline taxes even among countries with identical fundamentals. Endogenous car ownership
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Water scarcity and local economic activity: Spatial spillovers and the role of irrigation J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-01-20 A, l, e, x, a, n, d, e, r, , M, a, r, b, l, e, r
This paper explores the spatial spillover effects of water scarcity on local economic activity and examines the role of irrigation in modulating these effects. Utilizing a newly assembled global geospatial data set that combines information on seasonal water availability and economic activity measured by nighttime luminosity, I conduct a spatial econometric analysis at the granular level of grid cells
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Transboundary vegetation fire smoke and expressed sentiment: Evidence from Twitter J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-01-19 Rui Du, Ajkel Mino, Jianghao Wang, Siqi Zheng
This paper examines the impact of transboundary vegetation fire smoke on the real-time sentiment of Twitter users in Southeast Asia, including countries such as Brunei, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. We leverage the exogenous variation in wind directions for identification. We find that an increase in upwind fires by one standard deviation reduces the sentiment
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Estimates of the marginal curtailment rates for solar and wind generation J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-01-13 Kevin Novan, Yingzi Wang
As the amount of solar and wind generation capacity installed in a region grows, there will increasingly be periods during which a portion of the potential renewable generation will need to be curtailed to maintain the stability of the electric grid. Across markets worldwide, average curtailment rates for wind and solar are generally quite low, often around 3%. However, these low average curtailment
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I’d like to move it! The effect of consumption rivalry on demand estimation: Evidence from the EV public charging market J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-01-13 A, d, r, i, a, a, n, , R, ., , S, o, e, t, e, v, e, n, t
Rivalry in consumption generates variation in the choice sets decision-makers face. Neglecting such variation generates biased demand estimates. Whereas previous research used information from periodic inventory systems to correct this bias, this study instead uses novel data from a real-time inventory system that records all public charging sessions by electric vehicles in a residential area of Amsterdam
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Resource discoveries and the political survival of dictators J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2024-01-05 Alexandra Brausmann, Elise Grieg
We study the effect of resource discoveries on dictator failure. We extend existing conflict literature by developing a dynamic stochastic model where timing of attack and probability of success are endogenous. Incumbent and opposition invest in military arsenals which determine success probability, while opposition also chooses when to stage a coup. A resource discovery delays the attack and reduces
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Do conservation contests work? An analysis of a large-scale energy competitive rebate program J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-12-29 C, h, i, , L, ., , T, a
Contests are widely used as mechanisms to incentivize efforts in various contexts, from research innovation to athletic and employee performance. This paper builds an analytical model and provides empirical evidence to assess the effectiveness of a large-scale, real-world residential energy conservation contest in Vietnam. The model suggests that contests offering multiple prizes and requiring a minimum
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Environmental Policies and directed technological change J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-12-19 Klaus Gugler, Florian Szücs, Thomas Wiedenhofer
This article evaluates if and to which extent policy can steer innovation towards eco-friendly technologies. We construct a cross-country dataset on sectoral green innovation and complement it with data on policies designed to address environmental market failures: environmental taxes, regulation, and R&D subsidies. While all of these tools exert a positive effect on green innovation, our IV estimates
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The effect of water pollution regulation on prices: Evidence from Wisconsin's phosphorus rule and sewer utility bills J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-12-18 Andrew Meyer, Zach Raff
In this paper, we estimate the consumer impacts of Wisconsin's “phosphorus rule”, which created the most stringent statewide water quality and effluent standards for phosphorus in the country. We examine how compliance with the rule affects real billing rates at sewer utilities in Wisconsin, providing the first empirical estimates of water pollution regulation on utility billing rates. We find that
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Electric vehicle usage, pollution damages, and the electricity price elasticity of driving J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-12-15 C, o, d, y, , N, e, h, i, b, a
I study battery electric vehicle (BEV) usage and ownership characteristics with fundamental implications for the electrification of passenger transportation. Using data covering the entire BEV population in New York, I quantify BEV mileage and electricity consumption and highlight the important role of vehicle utilization in contributing to real-world pollution damages and their spatial variation.
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Policy linkages, country size, and international capital distribution J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-11-23 Yu-Bong Lai
We investigate the linkage between environmental taxes and import tariffs between two countries, which differ in their capital endowments and the number of consumers. We consider the consumption-generated pollution in an intra-industry trade model with monopolistically competitive industries, and focus on the regime with the environmental taxes only and that with environmental taxes and tariffs. We
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CO2 storage or utilization? A real options analysis under market and technological uncertainty J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-11-15 Hanne Lamberts-Van Assche, Maria Lavrutich, Tine Compernolle, Gwenny Thomassen, Jacco J.J. Thijssen, Peter M. Kort
Carbon Capture and Storage (CCS) and Carbon Capture and Utilization (CCU) are considered essential solutions to reduce greenhouse gas (GHG) emissions worldwide. A crucial difference between the two is that CCS is already a mature technology, while CCU is still in the R&D phase. Hence, firms are confronted with a dilemma, where they have to choose between either the mature CCS, the emerging CCU, or
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The siren song of cicadas: Early-life pesticide exposure and later-life male mortality J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-11-20 Jason Fletcher, Hamid Noghanibehambari
This paper studies the long-term effects of in-utero and early-life exposure to pesticide use on adulthood and old-age longevity. We use the cyclical emergence of cicadas in the eastern half of the United States as a shock that raises the pesticide use among tree crop growing farmlands. We implement a difference-in-difference framework and employ Social Security Administration death records over the
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Measuring the impact of time-of-use pricing on electricity consumption: Evidence from Spain J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-11-17 Jacint Enrich, Ruoyi Li, Alejandro Mizrahi, Mar Reguant
We evaluate the effect of a time-of-use pricing program introduced in Spain on residential electricity consumption. Using a Difference-in-Difference approach, we find that households responded by reducing consumption during peak hours. We then use machine learning for variable selection and show that it is able to capture pre-trends unrelated to the policy, improving the credibility of our estimates
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Climate policy under political pressure J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-11-13 Andrei Kalk, Gerhard Sorger
It is widely acknowledged that there is an urgent need for policies that can reduce greenhouse gas emissions. Yet, the policies implemented by governments are far from sufficient to reach their long-term climate targets. In this paper, we propose a theoretical framework to study the implications of political pressure on optimal climate policy. A key feature of the framework is its ability to capture
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Punishment to promote prosocial behavior: a field experiment J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-11-16 Ben Vollaard, Daan van Soest
Prosocial behavior is typically promoted through behavioral interventions or modest rewards. We provide field evidence for the effectiveness of a less commonly used way to achieve the same goal: making it illegal not to engage in the desired behavior and then enforcing that rule. We partnered with a city to conduct a natural field experiment aimed at increasing the rate at which 70,000 households separate
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Corporate social responsibility by joint agreement J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-11-16 Maarten Pieter Schinkel, Leonard Treuren
Industry-wide voluntary agreements are touted as a means for corporations to take more corporate social responsibility (CSR). We study what type of joint CSR agreement induces competitors to increase CSR efforts in a model of oligopolistic competition with differentiated products. Consumers have a higher willingness to pay for more responsibly produced goods and services. Firms are driven by profit
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Collective minimum contributions to counteract the ratchet effect in the voluntary provision of public goods J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-11-08 Marius Alt, Carlo Gallier, Martin Kesternich, Bodo Sturm
We experimentally test a theoretically promising amendment to the ratchet-up mechanism of the Paris Agreement. The ratchet-up mechanism prescribes that parties’ commitments to the global response to climate change cannot decrease over time, and our results show that its effect is detrimental. We design a public goods game to study whether cooperation is promoted by an amendment to the mechanism that
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Wildfires and climate change have lowered the economic value of western U.S. forests by altering risk expectations J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-11-07 Yuhan Wang, David J. Lewis
There is a lack of evidence regarding how natural resource markets have responded to recent increases in climate-induced extreme events like wildfire. Wildfire can affect the economic value of forests by directly damaging the existing tree stock and by altering landowner risk expectations of future wildfire arrival. This paper uses parcel data over a seventeen-year period to estimate the effects of
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Greed is good? Of equilibrium impacts in environmental regulation J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-11-02 Iivo Vehviläinen
This paper presents a novel method to quantify the market equilibrium impacts of tighter environmental policies. The approach is taken to evaluate the welfare effects of emerging environmental regulations to protect the biodiversity of river ecosystems that put pressure on reducing hydropower generation capacity. A dataset of 129 million bids in the Nordic electricity market is used to calculate how
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Can resource windfalls reduce corruption?: The role of term limits J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-10-21 Ohad Raveh, Yacov Tsur
Can resource windfalls reduce corruption? We find that, in democratic regimes with unlimited reelection, the answer is in the affirmative, contrasting a widely held view. The reason is that resource windfalls increase future graft prospects, motivating opportunistic incumbents to postpone their planned embezzlement, which in turn requires them to seek reelection and behave well in order to increase
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Weather the storms? Resilience investment and production losses after hurricanes J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-10-16 Johan Brannlund, Geoffrey Dunbar, Reinhard Ellwanger, Matthew Krutkiewicz
This paper studies whether resilience investment mitigates damages from extreme weather events using data on offshore oil production in the Gulf of Mexico. We show that hurricanes which pass near rigs lower production and that stronger storms have larger impacts which persist for months. Regulatory changes that required rigs be designed to be resilient to major hurricanes only modestly mitigated the
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Pricing rules for PES auctions: Evidence from a natural experiment J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-10-09 Ben Balmford, Joseph Collins, Brett Day, Luke Lindsay, James Peacock
Payments for Ecosystem Service (PES) schemes increasingly use auctions to target funds to low-cost providers, aiming to increase value-for-money. To date, PES auctions have most often employed “Pay-as-Bid” (PaB) pricing, in which successful participants are paid the amount stipulated in their bid(s). Alternative pricing rules exist, such as the “Uniform Price” (UP) rule, in which successful bids receive
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Directed technical change, environmental sustainability, and population growth J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-09-29 Peter Kjær Kruse-Andersen
Population growth has two potentially counteracting effects on pollution emissions: (i) more people imply more production and thereby more emissions, and (ii) more people imply a larger research capacity which might reduce the emission intensity of production, depending on the direction of research. This study investigates how to achieve a given climate goal in the presence of these two effects. A
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Air pollution kills competition: Evidence from eSports J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-09-28 Jiawei Mo, Zenan Wu, Ye Yuan
This article investigates how environmental adversity affects competitive performance in cognitive-intensive settings. Using a comprehensive dataset of professional eSports tournaments and match-hour variation of fine particulate matters, we find robust evidence that pollution kills competition. Specifically, higher air pollution levels diminish the performance and winning odds of the weaker team in
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Burned agricultural biomass, air pollution and crime J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-09-28 Abubakr Ayesh
Agricultural fires account for half as much burned biomass as forest fires. Like other forms of environmental degradation, burned biomass incurs social costs for society through its contribution to air pollution. One such potential cost is the increase in crime. Exploiting plausibly exogenous variation in air pollution due to increased rice stubble burning in Pakistan, I provide evidence on the causal
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Endogenous bifurcation into environmental CSR and non-environmental CSR firms by activist shareholders J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-09-17 Yasunobu Tomoda, Yasunori Ouchida
This paper proposes a new and simple partial equilibrium model in which environmental corporate social responsibility (ECSR) firms arise endogenously through changes in the composition of their shareholders. Our model has two types of shareholders: profit seekers who aim to maximize dividends from their equities and environmental activists who demand not only monetary profits but also environmental
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Unseen annihilation: Illegal fishing practices and nautical patrol J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-09-19 Stephen Kastoryano, Ben Vollaard
A host of regulations should protect fish, a common-pool resource, from overexploitation, but detecting violations of these regulations is challenging, both at sea and in port. We present a novel approach to uncover a supposedly widespread and particularly harmful illegal fishing practice, the use of nets with illegally small mesh size. Our approach relies on readily available data on reported fish
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The discounting premium puzzle: Survey evidence from professional economists J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-09-16 Christian Gollier, Frederick van der Ploeg, Jiakun Zheng
We surveyed economists’ attitudes toward adjusting discount rates to the risk profile of public programs. Three-quarters of respondents recommend to use project-specific discount rates. For example, on average, respondents discount railway infrastructures more than hospitals and climate mitigation. But the degree of discount discrimination between distinct risk profiles of different projects is fairly
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Cleaner waters and urbanization J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-09-04 Qianping Ren, Jeremy West
The Clean Water Act (CWA) addresses nonpoint source pollution primarily by funding public works projects. Our study evaluates changes in rural watersheds before and after CWA projects are implemented, compared to watersheds without funding. We find that projects significantly reduce water pollution, with corresponding increases in human population and residential construction. Using housing values
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The effects of a voluntary property buyout and acquisition program on coastal housing markets: Evidence from New York J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-08-29 Yukiko Hashida, Steven J. Dundas
The magnitude and direction of the economic effects of removing or retrofitting housing in hazard-prone coastal locations is an open empirical question. Using data from a voluntary buyout and acquisition program in the U.S. state of New York, we recover hedonic estimates of the property value impacts of government-acquired properties in the state's coastal counties. Both a repeat sales difference-in-differences
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The charisma premium: Iconic individuals and wildlife values J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-08-23 Christopher Costello, Lynne Lewis, John Lynham, Leslie Richardson
We develop a new theory of the wildlife-viewing value of particularly “charismatic” individuals in a population. In contrast to the existing recreation literature, which typically treats all individuals as interchangeable, we allow for heterogeneous charisma within a population, and ask how this heterogeneity affects each individual’s marginal value. We find that more charismatic individuals confer
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Locally-weighted meta-regression and benefit transfer J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-08-22 Klaus Moeltner, Roshan Puri, Robert J. Johnston, Elena Besedin, Jessica A. Balukas, Alyssa Le
Meta-regression models (MRMs) are commonly used within benefit transfer to estimate willingness to pay for environmental quality improvements. In virtually all benefit transfers of this type, a single regression model is fit to all source points in the metadata, and used to produce out-of-sample predictions for all possible policy-site applications. Despite the advantages of this approach over other
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Disentangling peer effects in transportation mode choice: The example of active commuting J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-08-11 Mathieu Lambotte, Sandrine Mathy, Anna Risch, Carole Treibich
We investigate the role of peer effects in the workplace on individual active transportation mode choices. We collect original data through an online survey on networks and sustainable behaviors among 334 individuals working in ten research laboratories at the University of Grenoble Alps in February 2020. We apply linear and nonlinear models of peer effects on active modal choice, untangling the role
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The impact of the clean air act on particulate matter in the 1970s J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-08-10 Maureen Cropper, Nicholas Muller, Yongjoon Park, Victoria Perez-Zetune
We examine whether counties designated as out of attainment with the National Ambient Air Quality Standards (NAAQS) under the 1970 Clean Air Act (CAA) experienced larger reductions in Total Suspended Particulates (TSP) during the 1970s than attainment counties. We answer this question using the official designation of nonattainment status which, between 1972 and 1978, was by Air Quality Control Region
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Does LEED certification save energy? Evidence from retrofitted federal buildings J. Environ. Econ. Manag. (IF 5.84) Pub Date : 2023-08-03 Karen Clay, Edson Severnini, Xiaochen Sun
This paper examines the causal impact of LEED (Leadership in Energy & Environmental Design) certification on energy consumption among federally owned buildings that were retrofitted over the period 1990–2019. Using a difference-in-differences propensity score matching approach, the paper has two findings. First, despite energy savings being an explicit federal goal, LEED-certified retrofits of federal