Green expectations: Current effects of anticipated carbon pricing

Research output: Contribution to journalArticle

4 Citations (Scopus)

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 languageEnglish (US)
Pages (from-to)499-513
Number of pages15
JournalReview of Economics and Statistics
Volume99
Issue number3
DOIs
StatePublished - Jul 1 2017

Fingerprint

pricing
coal
futures market
senate
environmental policy
legislation
climate
evidence
Pricing
Carbon
Breakdown
Carbon dioxide
Legislation
Climate
Futures markets
Greenhouse gas emissions
Excess returns
Environmental policy

ASJC Scopus subject areas

  • Social Sciences (miscellaneous)
  • Economics and Econometrics

Cite this

Green expectations : Current effects of anticipated carbon pricing. / Lemoine, Derek M.

In: Review of Economics and Statistics, Vol. 99, No. 3, 01.07.2017, p. 499-513.

Research output: Contribution to journalArticle

@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 = "Lemoine, {Derek M}",
year = "2017",
month = "7",
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 M

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

VL - 99

SP - 499

EP - 513

JO - Review of Economics and Statistics

JF - Review of Economics and Statistics

SN - 0034-6535

IS - 3

ER -