Green expectations: Current effects of anticipated carbon pricing

Research output: Contribution to journalArticlepeer-review

25 Scopus citations


I report evidence that an anticipated strengthening of environmental policy increased emissions. I find that the breakdown of the U.S. Senate's 2010 climate effort generated positive excess returns in coal futures markets. This response appears to be driven by an increase in coal storage. The proposed legislation aimed to reduce U.S. greenhouse gas emissions after 2013, but the legislative process itself may have increased emissions by over 12 million tons of carbon dioxide leading up to April 2010.

Original languageEnglish (US)
Pages (from-to)499-513
Number of pages15
JournalReview of Economics and Statistics
Issue number3
StatePublished - Jul 1 2017

ASJC Scopus subject areas

  • Social Sciences (miscellaneous)
  • Economics and Econometrics


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