Green expectations: Current effects of anticipated carbon pricing

Derek Lemoine

doi:10.1162/REST_a_00627

Green expectations: Current effects of anticipated carbon pricing

Derek Lemoine

Research output: Contribution to journal › Article › peer-review

29 Scopus citations

Abstract

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 language	English (US)
Pages (from-to)	499-513
Number of pages	15
Journal	Review of Economics and Statistics
Volume	99
Issue number	3
DOIs	https://doi.org/10.1162/REST_a_00627
State	Published - Jul 1 2017

ASJC Scopus subject areas

Social Sciences (miscellaneous)
Economics and Econometrics

Access to Document

10.1162/REST_a_00627

Cite this

@article{526c6edcf4564acf8aa22d162f547d7a,

title = "Green expectations: Current effects of anticipated carbon pricing",

abstract = "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.",

author = "Derek Lemoine",

note = "Publisher Copyright: {\textcopyright} 2017 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology.",

year = "2017",

month = jul,

day = "1",

doi = "10.1162/REST_a_00627",

language = "English (US)",

volume = "99",

pages = "499--513",

journal = "Review of Economics and Statistics",

issn = "0034-6535",

publisher = "MIT Press Journals",

number = "3",

}

TY - JOUR

T1 - Green expectations

T2 - Current effects of anticipated carbon pricing

AU - Lemoine, Derek

PY - 2017/7/1

Y1 - 2017/7/1

N2 - 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.

AB - 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.

UR - http://www.scopus.com/inward/record.url?scp=85028965991&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=85028965991&partnerID=8YFLogxK

U2 - 10.1162/REST_a_00627

DO - 10.1162/REST_a_00627

M3 - Article

AN - SCOPUS:85028965991

SN - 0034-6535

VL - 99

SP - 499

EP - 513

JO - Review of Economics and Statistics

JF - Review of Economics and Statistics

IS - 3

ER -

Green expectations: Current effects of anticipated carbon pricing

Abstract

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

Cite this