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on Environmental Economics |
| By: | Hale, Galina; Onescu, Vlad; Bhangale, Ritesh |
| Abstract: | The global food system is an important contributor to greenhouse gas emissions that lead to climate change. Animal agriculture is responsible for a large share of the food-system emissions, both directly and through the production of animal feed. Limiting global warming to the goals set forth by the international community will not be possible without rapid phasing out of a substantial share of animal-source food. We show that the rapid adoption of alternatives to animal-source foods, such as plant-only diet, or plant-based, cultured, or fermentation-derived analogs to animal products, can be consistent with climate goals. Importantly, the longer the delay in the adoption of alternatives, the larger the share of diet they will have to represent in 2050 for the food system to stay within its carbon budget. |
| Keywords: | Ghg emissions |
| JEL: | L66 Q11 Q15 Q18 Q54 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19348 |
| By: | Kostovetsky, Leonard; Peng, Lin; Rauh, Christopher; Yönaç, Muhammed |
| Abstract: | What drives people’s attitudes towards climate change and does it matter for economic outcomes? We address these questions by constructing a novel measure of local climate change attention using a comprehensive news dataset extracted from over 5, 000 US newspapers from 2000-2022. We document an increasing trend in climate attention and growing polarization in climate-related sentiment across the US. Local climate attention, while comoves with national trends, exhibits significant regional variation. It correlates with local education levels, Democratic party affiliation, and extreme weather events, but not by local greenhouse gas emissions or toxic releases. Exploiting exogenous variation, we find that higher local climate attention is associated with increased individual investment in ESG-focused ETFs and improved environmental performance of local firms. These findings suggest local climate attention significantly influences investment decisions and corporate environmental policies. |
| Keywords: | Climate change; ESG; Sustainable investing |
| JEL: | G11 G14 G20 G41 G29 G39 G50 Q5 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19453 |
| By: | Bems, Rudolfs; Juvenal, Luciana; Liu, Weifeng Larry; Mckibbin, Warwick |
| Abstract: | This paper assesses the economic effects of climate policies on different regions and countries with a focus on external adjustment. The paper finds that various climate policies could have substantially different impacts on external balances over the next decade. A credible and globally coordinated carbon tax would decrease current account balances in greener advanced economies and increase current accounts in more fossil-fuel-dependent regions, reflecting a disproportionate decline in investment for the latter group. Green supply-side policies—green subsidy and infrastructure investment—would increase investment and saving but would have a more muted external sector impact because of the constrained pace of expansion for renewables or the symmetry of the infrastructure boost. Country characteristics, such as initial carbon intensity and net fossil fuel exports, ultimately determine the current account responses. For the global economy, a coordinated climate change mitigation policy package would shift capital towards advanced economies. Following an initial rise, the global interest rates would fall over time with increases in the carbon tax. These external sector effects, however, depend crucially on the degree of international policy coordination and credibility. |
| Keywords: | Climate policies; Carbon taxes; Net-zero emissions; Current account; Capital flows; Dynamic general equilibrium model; G-cubed |
| JEL: | F41 F42 H23 Q54 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19350 |
| By: | Hale, Galina; Meisenbacher, Brigid; Nechio, Fernanda |
| Abstract: | In the past two decades, a number of banks joined global initiatives aimed to mitigate climate change by ``greening'' their asset portfolios. We study whether banks that made such commitments have a different emission exposure of their portfolios of syndicated loans than banks that did not. We rely on loan-level information with global coverage combined with country-industry information on emissions. We find that all banks have reduced their loan-emission exposures over the last 8 years. However, we do not find differences between banks that did and those that did not signal their sustainability goals, with the exception of early signers of Principles of Responsible Investments (PRI), who already had lower exposure to emissions through their syndicated lending. In addition, banks that signed PRI shortened the maturity of the loans extended to highly-emitting industries but only temporarily. Thus, we conclude that banks reduced their exposure to climate transition risks on average, but voluntary climate commitments did not contribute to syndicated loan reallocation away from highly-emitting sectors. |
| Keywords: | climate; Syndicated loans |
| JEL: | G21 F21 Q54 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19357 |
| By: | Kunwar, Saurav; Chambers, Robert; Gentry, Laura; Serra, Teresa |
| Abstract: | Conservation programs differ in how they reward farmers: practice-based programs compensate for adopting management practices, while outcome-based programs pay for measured environmental improvements. Yet the private costs of compliance under these alternative designs remain unclear. We develop a duality-based framework to value agricultural environmental services under policy-consistent normalizations. A normalization selects a numeraire that reflects program objectives and determines how trade-offs among market and environmental outcomes are evaluated. Using Illinois corn production data, we demonstrate that practice-based normalizations result in lower shadow prices for carbon sequestration and greenhouse gas abatement, whereas outcome-based normalizations yield higher costs. Erosion control shows limited variation. By establishing shadow prices as policy-dependent measures, the framework provides a consistent economic basis for comparing conservation programs and setting incentive payments that align private management with environmental goals. |
| Keywords: | Agricultural Finance, Farm Management |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404335 |
| By: | Xu, Zhaoyang; Zhu, Lei; , KuoRayMao; Xue, Yongji |
| Abstract: | In the context of global climate mitigation, low carbon energy transitions have become central to sustainable development. However, while pursuing environmental objectives, such transitions may also reshape patterns of resource distribution and participation through institutional arrangements, generating new forms of inequality across distributive, procedural, and recognition dimensions. China, as the world's largest developing country and a major carbon emitter, provides an analytically rich context for examining how low carbon transitions intersect with equity concerns. This study investigates three photovoltaic projects in China: the Tengger Desert New Energy Base in Ningxia, the Dezhou Rooftop PV Program in Shandong, and the Yancheng Solar-Fishery Integration Project in Jiangsu. Drawing on field interviews and policy document analysis, the study employs a thematic grounded coding approach to develop a four dimensional analytical framework covering spatial entitlements, revenue distribution, technological adaptation, and policy design. The findings show that vulnerable rural communities often face constrained spatial rights, limited benefit sharing, uneven adaptive capacity, and restricted participation in top down governance processes. Based on this analysis, the paper develops policy recommendations to enhance institutional inclusiveness, optimize benefit-sharing mechanisms, and strengthen local governance capacity. These insights provide both theoretical contributions to the study of energy justice and practical references for promoting equitable and sustainable energy transitions in the Global South. |
| Date: | 2026–07–17 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:56j9h_v1 |
| By: | Brazzola, Nicoletta |
| Abstract: | The war in Iran has led to kerosene prices roughly doubling and forced airlines to cancel thousands of flights. Some voices from the industry have used the crisis to call for climate policies to be relaxed. However, this misreads what the crisis actually demonstrates: Costs are being driven not by too much climate policy, but by dependence on fossil energy itself. In 2026/27 the European Union (EU) will decide whether to end the "stop the clock" exemption that has shielded international flights from the Emissions Trading System (ETS) since 2013 and extend the ETS to all departures from the European Economic Area, or whether such flights will continue to be covered by international offsetting mechanisms. The decision will have implications well beyond aviation: for the EU's 2040 climate target, the demand for durable CO2 removal, and the credibility of European climate policy more broadly. |
| Keywords: | Carbon Off-setting and Reduction Scheme for International Aviation (CORSIA), EU aviation, Iran war, Climate Policy, Sustainable Aviation Fuels, SAF, EU Emis-sions Trading System, ETS, Carbon Offsetting and Reduction Scheme for Interna-tional Aviation, CORSIA, Article 6.4 credits, ReFuelEU, International Civil Aviati-on Organization, ICAO, carbon dioxide removal, CDR, direct air capture with carbon storage, DACCS |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:swpcom:342580 |
| By: | Mathias Dolls; Sebastian Link; Matti Liski; Gerome Wolf |
| Abstract: | Europe's green transition requires an unprecedented volume of private investment. Despite rising carbon prices in the EU Emissions Trading System (ETS) – captured by the ETS Emission Allowances – corporate investments in climate-related initiatives remain insufficient to align with the goals set forth in the Paris Agreement. This shortfall raises critical questions: At what carbon price levels will firms invest in green projects? Additionally, how does uncertainty about future prices affect their decisions?To address these issues, the authors of this report conducted a conjoint survey experiment involving 830 German manufacturing firms. The results reveal that price levels and price stability are both crucial for decarbonization. While higher expected carbon prices strongly incentivize corporate action, with firms favoring green projects as prices cross the EUR 90–100 threshold, volatility severely deters it. High uncertainty about future prices creates a "wait-and-see" effect that completely offsets the positive impact of a massive carbon price increase. Furthermore, institutional trust acts as a powerful multiplier; firms that perceive climate policies as credible are substantially more willing to commit capital.Therefore, unlocking private green investment requires policymakers to do more than sustain ambitious carbon prices. They must actively reduce downside risks by implementing robust price stabilization mechanisms, such as price floors or corridors, and ensure long-term institutional commitment. These elements need to be incorporated into the future reform of the EU ETS framework, especially ETS-2, which is now expected to become fully operational in 2028. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:econpr:_58 |
| By: | Ramji, Aditya PhD; Fulton, Lewis PhD; Cazzola, Pierpaolo |
| Abstract: | A rapid transition to a near-zero-emission transportation system in California and Europe will require rapid uptake of transportation technologies, changes in transportation services, and investments in associated infrastructure. These in turn require policy innovations. This report compares California and EU policies across three broad areas: 1) greenhouse gas (GHG) targets for 2030 to 2050; 2) progress on reducing GHG emissions from different transportation modes; and 3) current strategies and policies to achieve targets. Differences by region and across major modes are identified. Strategies cover electrification, uptake of hydrogen, aviation and shipping fuels, and modal shifts. Policies include regulatory requirements (fuel economy and CO2 standards, fuel standards); incentive programs, including taxation, feebates, and others; direct investment programs; equity considerations and environmental justice-related initiatives. In both geographies, a range of impactful policies are in place. However, these fall short of guaranteeing that targets will be met, and more actions will likely be needed. Some possibilities are presented, with a particular focus on pricing strategies. |
| Keywords: | Social and Behavioral Sciences, Decarbonization, Zero emission vehicles, Greenhouse gases, Sustainable transportation, Alternate fuels, Policy analysis, Regulation |
| Date: | 2026–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt6d08m3s5 |
| By: | Das, Gouranga G.; Paul, Saswati |
| Abstract: | This article offers a synoptic overview of land use, land cover, and ensuing changes in them in the wake of drivers and anthropogenic changes in global biosphere. Also, it discusses the effects of such changes on global greenhouse gases, causing climate change and affecting biodiversity. This is also associated with factors leading to land acquisition, its distribution, management and preservation as that affects access to food and nutritional values for inclusive development. Given the preponderant role ascribed to climate change, land-use, food security, and human development in the United Nation's Millennium Development Goals, scientific research from a multidisciplinary perspective is needed for informed debate on growth, poverty, and the environment nexus. In particular, the current focus of Sustainable Development Goals with 17 goals and 169 targets adds new dimensions into it. This article offers a holistic view covering commonalities and differences of MDGs vis-à-vis SDGs. Also, the aspect of circular economy is discussed to throw new lights. A conceptual framework for analytical modeling to study the myriads of interlinkages is sketched. |
| Keywords: | Agriculture, Analytical models, Biofuel, Climate change, Development, Food security, Forestry, Land cover, Land use, Sustainability, MDG, SDG, Circular Economy |
| JEL: | Q15 Q16 Q23 Q24 Q28 Q56 Q57 Q58 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:glodps:1803 |
| By: | McDowall, Will; Nejadghorban, Hamid |
| Abstract: | As the world confronts the challenges of multiple environmental crises – particularly the climate emergency – it is important for policymakers to be able to track the scale of economic activity related to the achievement of environmental goals. We highlight the shortcomings of existing definitions and typologies for measuring the ‘environmental goods and service sector’ and related environmental activities. We first set out a new approach to defining green economic activity, which aims to overcome some of the shortcomings of existing approaches. We then explore the potential of new web-scraping tools for supporting the estimation of green economic activity in the UK. We test the alignment between lists of firms identified as involved in low-carbon and renewable energy by an existing ONS survey and by a web-scraping tool (TheDataCity). Our analysis highlights both the limitations and the advantages of web-scraping tools and advocates their use only when coupled with sufficient relevant sector-specific expertise. We also provide illustrative estimates of the scale of green economic activity in the UK, adjusted for our new set of definitions, showing that the true scale of such activities may be at least 70% greater than is captured in the current ONS Environmental Goods and Services Sector estimates. |
| Keywords: | green economy; environmental accounting; web scraping; environmental goods and services sector; official statistics; economic measurement |
| JEL: | C81 E01 Q01 Q56 Q58 |
| Date: | 2026–08–03 |
| URL: | https://d.repec.org/n?u=RePEc:eoe:escoed:escoe-dp-2026-11 |
| By: | Herwig Immervoll |
| Abstract: | International data on public sentiments show that a green transition cannot advance on environmental grounds alone; it must also address economic security and distribute transition costs fairly. This paper reviews national and international studies, presents new results across population groups in OECD countries, and discusses implications for designing and communicating reforms, including accompanying measures to cushion transition costs. On average across 27 OECD countries, over two thirds of respondents express climate concern, with notable upward trends in recent decades and a recent plateauing or softening. Sentiments differ across groups: women are more worried about climate change, and workers in emission-intensive industries sometimes less so. Yet patterns are more complex than stereotypes suggest; for example, older adults are often as concerned as younger ones. Crucially, explicit support for further climate action lags behind abstract climate concern. There is no evidence of systematic pushback against ambitious climate policies, but opinion data underscore the importance of demonstrating policy effectiveness and sharing adjustment burdens equitably. Financially vulnerable households and workers in high-emission sectors are more worried about negative knock-on effects of climate policies. Inclusive policy design, with transparent compensation, can address these economic vulnerabilities and associated concerns about climate action. |
| Keywords: | Climate attitudes, Climate policy, Distributional effects, Just transition, Policy acceptance, Public opinion |
| JEL: | C83 D63 D83 Q54 Q58 |
| Date: | 2026–08–31 |
| URL: | https://d.repec.org/n?u=RePEc:oec:elsaab:335-en |
| By: | Tarsia, Romano |
| Abstract: | This paper provides novel firm-level estimates of the economic damages caused by temperature shocks to European firms. I rely on a panel data analysis to show wide heterogeneities in the impact of temperature shocks, which depend on firm characteristics. This paper reveals the importance of micro-level data for quantifying climate damage estimates, as the average relationship between temperature and economic outcomes masks firms’ different susceptibilities to weather shocks. These create both winners and losers, harming less productive firms, particularly those in warmer regions, while benefiting more productive ones. Compared with the pooled marginal effect, the least-productive firms experience negative effects roughly ten times as large, while the most-productive firms experience positive effects roughly three times as large. Additionally, higher temperatures increase exit probability among the least productive firms in warmer regions. I highlight the distributional effects of climate change, and offer insights for adaptation policies. |
| Keywords: | climate change;firms;climate damages;economic performance |
| JEL: | D24 O13 O52 Q54 R11 |
| Date: | 2026–09–30 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140233 |
| By: | Yun-Long Zhang; Jia-Ning Kang; Xiaoming Kan; Lan-Cui Liu; Zhimin Huang; Song Peng; Biying Yu; Yi-Ming Wei |
| Abstract: | Decarbonizing existing coal-fired power plants can contribute to near-term climate mitigation, but identifying cost-effective retrofit strategies is complicated by interactions among mitigation technologies. Here we develop an interaction-aware optimization framework that jointly evaluates energy conservation, biomass co-firing, and carbon capture across 1, 885 coal-fired power plants in China while accounting for plant heterogeneity and shared biomass and CO2 storage resources. We find that technology interactions alter both mitigation costs and the emission reductions attributable to individual measures, thereby changing cost-optimal technology portfolios and marginal abatement cost curve at the fleet level. Approximately 1.2 Gt CO2 yr-1 can be mitigated at negative marginal cost, while reaching carbon neutrality requires a marginal abatement cost of US$56 t CO2-1. Progressively deeper mitigation shifts the cost-optimal portfolio from energy conservation toward biomass co-firing and ultimately carbon capture, with biomass combined with carbon capture enabling net-negative emissions. Explicitly accounting for interactions among mitigation technologies therefore provides a more consistent basis for evaluating coal-power decarbonization and coordinating retrofit investment, infrastructure development, and climate policy. |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2608.11404 |
| By: | Konrad Adler (University of St.Gallen & SFI); Oliver Rehbein (WU Vienna & VGSF); Matthias Reiner (WU Vienna & VGSF); Jing Zeng (University of Bonn & CEPR) |
| Abstract: | We propose measuring firms’ exposure to climate risk via the market. We build a theoretical foundation and construct empirical market-based greenness measures based on abnormal stock returns around UN climate conferences. Our measures cover around 36, 000 international firms, tenfold the existing measures. Market-based greenness is associated with lower present and future carbon emissions, and provides explanatory power distinct from existing climate risk measures. Market-based green firms are more likely to file green patents, have lower stock price volatility, and are financially more robust. At the country level, market-based greenness correlates with lower emission intensity and larger shares of renewable energy. |
| Keywords: | Climate change, greenness, green firms, climate risk |
| JEL: | G14 G32 G38 Q54 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ajk:ajkdps:421 |
| By: | Lasse S. Stötzer (IZA & JRC); Florian Zimmermann (University of Bonn & Max Planck Institute for Behavioral Economics) |
| Abstract: | This paper studies the moral roots of climate policy attitudes. We fielded a survey with a representative sample in the US to study the predictive power of moral universalism in explaining heterogeneity in specific climate policy attitudes. Our results reveal that universalism significantly relates to support for various policy measures that prevail in current policy debates in most countries, including domestic policies such as a carbon tax and a green infrastructure program, as well as international policies such as international burden-sharing. This pattern is replicated in simple bystander allocation decisions where respondents are asked to decide “who should pay” to fight climate change or to mitigate the adverse consequences of global warming. Open-text elicitations further corroborate these results and identify moral universalism as a key aspect of how people reason about climate policies. |
| Keywords: | Moral Universalism, Climate Change, Policy Attitudes, Survey |
| JEL: | D01 C91 Q54 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ajk:ajkdps:424 |
| By: | , KuoRayMao; Zhang, Qian; Truslove, Micaela (Desert Research Institute) |
| Abstract: | Payments for ecosystem services (PES) schemes have become a widely used policy instrument for states to incentivize desirable environmental behaviors to meet conservation and preservation goals. However, many studies have shown that market-based regulatory mechanisms may change human-environment relationships, generating the commodification of natural resources and environmental inequalities. Our case study of an extensive grassland PES scheme in the Inner Mongolia Autonomous Region of China demonstrates that implementation is highly contingent upon existing state structures, political ideologies, national economic imperatives, and the ability of PES designers to account for the complexity of human-environment interactions. The state's conflicting mandates to provide environmental protection and facilitate economic growth have undermined conservation and worsened environmental inequality in the region. Our chapter contributes a more nuanced understanding of how normative functions of state-led ecosystem valuation and environmental interventions in an illiberal context may lead to the overutilization of natural resources that exacerbates stratification and injustice in top-down, centralized environmental governance models. |
| Date: | 2026–07–27 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:pcz54_v2 |
| By: | Fuchs, Maximilian; Ströbel, Johannes; Terstegge, Julian |
| Abstract: | We study the effects of carbon price uncertainty on firms’ decisions to decarbonize their operations. We first use information on the pricing of options on emission allowances in the European Emissions Trading System to create the Carbon VIX, a market-based high-frequency measure of carbon price uncertainty. Carbon price uncertainty is high, varies substantially over time, and experiences persistent shocks around major climate policy events. To explore the effects of carbon price uncertainty on expected aggregate decarbonization investments, we analyze its effect on the stock returns of firms that help other businesses decarbonize. To identify these “carbon solution providers, †we extract common types of decarbonization investments from a large survey of firms, and then identify companies that offer the associated goods and services. We find that the stock returns of these carbon solution providers vary positively with carbon prices, but negatively with carbon price uncertainty. The effect of increases in carbon price uncertainty on our proxy for expected decarbonization investments is economically large and of similar magnitude as the effect of declines in carbon prices. These findings support predictions from real options theory that firms may delay investments in decarbonization when faced with uncertainty about the future costs of emissions. |
| Keywords: | Emissions; Uncertainty; Investments |
| JEL: | G1 G3 Q4 Q5 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19349 |
| By: | Emiola, Abiodun; Dalheimer, Bernhard |
| Abstract: | Although existing studies have extensively investigated the impacts of floods and fertilizer intensity on water quality, the literature largely overlooks their interaction effects. These studies have usually focused on specific river basins, urban rivers, and catchments. Also, the strong persistence of water quality degradation has not been extensively quantified. In addition, flood exposure data from EM-DAT are subject to under-reporting of minor events, leading to missing observations in our flood series. We address this using a regression-based imputation approach and then estimate a dynamic panel model for 111 countries using two-step system GMM, which accounts for endogeneity, individual-specific heterogeneity, measurement error, and omitted variables. The results reveal that floods amplify water quality degradation; this degradation shows strong persistence; however, the interaction effect remains negative, suggesting that the marginal impact of floods on water quality varies with fertilizer intensity. The marginal effects reveal that countries with low (high) fertilizer use experience an increase (decrease) in water quality degradation following flood shocks. These findings emphasize that, beyond flood exposure and fertilizer intensity, their interaction should also be considered to ensure environmental sustainability. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404510 |
| By: | Ahlvik, Lassi; van Kooten, Sebastiaan |
| Abstract: | This paper studies the costs and distributional impacts of the Natura 2000 network. We estimate how land use restrictions are capitalized into property prices in Finland by combining data on land transactions with the roll-out of the protection network. Our results indicate a sizable negative effect on forest and agricultural land and a moderate negative effect on unbuilt lots inside conservation areas. The negative effects are more pronounced in socio-economically deprived areas. In contrast, we find a positive effect on built properties both inside and in near vicinity of the protected areas. The net economic costs of Natura 2000 were moderate, but it had a clear distributional impact, reallocating rents from landowners to house and cabin owners. |
| Keywords: | Biodiversity; Environmental policy; Distributional effects; Environmental justice |
| JEL: | R14 Q57 Q58 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19400 |
| By: | Haibo Wang; Lutfu Sua; Jaime Ortiz; Jun Huang; Bahram Alidaee |
| Abstract: | Design/methodology/approach A time-varying parameter vector autoregression (TVP-VAR) model is employed to quantify dynamic connectedness and directional volatility spillovers using daily data from May 1, 2013, to May 2, 2023. The study isolates the impact of extreme events by splitting the data into pre- and post-COVID-19 samples based on the February 2020 stock market crash. Purpose This paper examines the daily financial risk spillovers associated with investing in critical minerals. It examines the dynamic interconnectedness between seven critical mineral Exchange-Traded Fund (ETF) portfolios and key economic-wide variables, including the energy market, carbon emissions, market sentiment, and global infrastructure. Findings Portfolios with high Environmental, Social, and Governance (ESG) scores significantly contribute to shock spillovers. Net directional connectedness analysis reveals that West Texas Intermediate (WTI) crude oil and carbon emission futures consistently act as "net receivers, " absorbing volatility from the system. Conversely, Cobalt and Aluminum ETFs primarily act as "net givers, " transmitting volatility. The pandemic caused significant structural shifts in these transmission roles. Practical implications The identification of specific net givers and receivers provides actionable insights for investors, facilitating better hedging strategies against time-varying structural breaks and broader economic shocks. Originality This study uniquely utilizes financial ETF data rather than physical mineral prices to capture accessible investment risks. It is among the first to link ESG scores to the directional role (giver vs. receiver) of critical mineral assets within a broader macro-financial network. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.27485 |
| By: | Inge van den Bijgaart; Åsa Löfgren |
| Abstract: | Decarbonizing basic materials industries requires coordinated investment between downstream firms adopting abatement technologies and upstream input providers. We model the resulting indirect network effects, which generate a no-investment equilibrium alongside a coordinated one. Carbon pricing and non-discriminatory subsidies cannot resolve this coordination failure without overshooting the optimum. Subsidies targeted at firms below a cost threshold implement the optimal coordinated equilibrium without distortion. We further show that excluding the lowest-cost firms, who invest voluntarily once others lead, shrinks the subsidized group, and that targeting remains effective under imperfect observability and imprecise targeting. Our results provide formal support for targeted industrial policy. |
| Keywords: | climate policy, coordination, industrial decarbonization, indirect network effects, industrial policy |
| JEL: | H23 O33 Q54 Q58 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12916 |
| By: | Jackson, Andrew; Svartzman, Romain; Barmes, David; Pereira da Silva, Luiz Awazu |
| Abstract: | Climate change and volatile fossil fuel prices increasingly drive macroeconomic and price instability. A successful green transition is a precondition for price stability in the long term but could generate inflationary pressures over shorter time horizons. A restrictive monetary response to such pressures would disproportionately affect the capital-intensive green investment needed for a transition. To maintain price stability without compromising the green transition, we propose adaptive inflation targeting, adjustments to monetary operations, and an institutional architecture for systematic monetary–fiscal coordination. |
| JEL: | F3 G3 R14 J01 N0 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140416 |
| By: | Shin, Jong Hoon; Lee, Seungki; Ji, Yongjie |
| Abstract: | This study estimates month-specific yield associations between U.S. corn yields and five air pollutants: fine particulate matter (PM2.5), ground-level ozone at 60 and 80 ppb thresholds (AOT60 and AOT80, respectively), nitrogen dioxide (NO2), sulfur dioxide (SO2), and carbon monoxide (CO). We draw on data that combine an extensive commercial variety trial dataset of 210, 207 observations from 17 U.S. states (2000-2023) with EPA Air Quality System monitor measurements. Our findings show that the aggregate effect of pollutants during the growing season is mostly negative yet minor or statistically insignificant; however, monthly decomposition uncovers systematic heterogeneity. For PM2.5, March exposure is associated with a 1.3 bu/acre yield reduction per μg/m3, while August exposure is associated with a 1.0 bu/acre increase, a seasonal pattern consistent with an aerosol scattering channel. The August AOT60 coefficient is −0.030 bu/acre per ppb·hour, with a more pronounced negative effect under AOT80. NO2 shows negative associations in March and August; SO2 and CO show none. Interestingly, the estimates provide little evidence that genetically engineered varieties mitigate yield losses from air pollutants; if anything, they suggest larger losses, except for the PM2.5 interaction. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404440 |
| By: | Marek Giergiczny (German Centre for Integrative Biodiversity Research (iDiv) Halle-Jena-Leipzig; University of Warsaw, Faculty of Economic Sciences); Jette Bredahl (University of Copenhagen, Department of Food and Resource Economics); Klaus Glenk (SRUC, Department of Rural Economy, Environment and Society); Jürgen Meyerhoff (Technische Universität Berlin, Institute for Landscape Architecture and Environmental Planning); Jens Abildtrup (Université de Lorraine, Université de Strasbourg, AgroParisTech, CNRS, INRAE, BETA); Fitalew Agimass Taye (Griffith University, Griffith Business School); Wiktor Budziński (University of Warsaw, Faculty of Economic Sciences); Mikołaj Czajkowski (University of Warsaw, Faculty of Economic Sciences); Borys Draus (Bureau for Forest Management and Geodesy); Michela Faccioli (University of Trento, School of International Studies and Department of Economics and Management); Tomasz Gajderowicz (University of Warsaw, Faculty of Economic Sciences); Michael Getzner (TU Wien, Institute of Spatial Planning); Tom X. Hackbarth (Vrije Universiteit Amsterdam); Piotr Janiec (University of Agriculture in Krakow); Thomas Lundhede (University of Copenhagen, Department of Food and Resource Economics); Marius Mayer (Munich University of Applied Sciences, Department of Tourism); Alistair McVittie (SRUC, Department of Rural Economy, Environment and Society); Rachel Oh (National University of Singapore, Department of Geography); Roland Olschewski (WSL Swiss Federal Research Institute, Economics and Social Sciences); Henrique M. Pereira (German Centre for Integrative Biodiversity Research (iDiv) Halle-Jena-Leipzig); Martin Quaas (German Centre for Integrative Biodiversity Research (iDiv) Halle-Jena-Leipzig; Leipzig University); Jarosław Socha (University of Agriculture in Krakow); Niels Strange (University of Copenhagen, Department of Food and Resource Economics); Milan Ščasný (Charles University, Environment Centre; Charles University, Institute of Economic Studies, Faculty of Social Sciences); Sviataslau Valasiuk (University of Warsaw, Faculty of Economic Sciences); Adam Wasiak (Regional Directorate of State Forests in Radom); Néstor Fernández (German Centre for Integrative Biodiversity Research (iDiv) Halle-Jena-Leipzig) |
| Abstract: | Forests across Europe are undergoing rapid transformation as biodiversity loss and climate change reshape priorities for forest management. Strategies that promote biodiverse and structurally complex forests are increasingly advocated to enhance ecological resilience, yet they are often assumed to conflict with societal preferences, potentially limiting public support for conservation and restoration. We examined whether forest characteristics associated with biodiversity conservation and climate adaptation are consistently valued by society across Europe. We combined a visual discrete choice experiment involving 11, 622 respondents from twelve European countries with a travel cost model to evaluate whether stated societal preferences were reflected in observed recreational behaviour. We then integrated harmonized preference estimates with continental forest inventory and remote-sensing data to map the spatial distribution of societal values associated with forest ecosystem condition. Across all countries, respondents consistently preferred forests characterized by taller canopies, greater tree-species richness, heterogeneous age structures, and more deadwood. These preferences closely aligned with observed visitation behaviour despite substantial differences in geography, accessibility, and recreational traditions. Spatial analyses further showed that forests with greater structural complexity consistently exhibited higher societal value. Our findings demonstrate that biodiversity-oriented forest management and societal values largely converge across Europe, suggesting that many interventions promoting ecological resilience can simultaneously strengthen public support for forest conservation and restoration, providing a stronger foundation for adaptive, multifunctional forest governance under global environmental change. |
| Keywords: | biodiversity conservation, forest management, structural complexity, forest recreation, ecosystem services, discrete choice experiment, travel cost method |
| JEL: | Q57 Q23 Q26 Q51 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:war:wpaper:2026-25 |
| By: | Alessandrini, Fabio; Jondeau, Eric; Vallée, Lou-Salomé |
| Abstract: | This paper presents a comprehensive comparative analysis of various portfolio construction techniques in the context of decarbonization and the pursuit of net-zero objectives aligned with the 2015 Paris Agreement. Specifically, we examine different strategies that qualify as Article 9 funds under EU regulations, focusing on carbon emissions reduction objectives, such as screening and tracking error minimization techniques. Our findings indicate that all approaches would have achieved the targeted emissions reductions over the 10-year period (2012-2021) analyzed. However, the method of decarbonization significantly affects ex-post tracking errors, with the more ambitious Paris-Aligned Benchmark requiring a substantial departure from the business-as-usual benchmark. Additionally, the tracking error minimization approach involves considerable reallocation of individual securities, potentially leading to, possibly undesirable, idiosyncratic exposures. |
| Keywords: | Climate change; Net-zero investment; Portfolio carbon footprint |
| JEL: | G11 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19421 |
| By: | Dalia Ghanem; Felix Pretis; Daniel Schuurman |
| Abstract: | Understanding the degree to which we are able to adapt to climate change is central to economic assessments of future climate damages. Economists increasingly use comparisons between long differences and fixed effects estimators to measure climate adaptation. We show that such comparisons can be misleading. Neither estimator is consistent for its intended parameter, as both the long-difference (LD) and fixed effects (FE) estimands are weighted averages of the long- and short-run responses to climate and weather. As a result, the difference between the two understates the true extent of adaptation, and the standard test based on this difference --while controlling size -- tends to be substantially underpowered in the settings researchers typically encounter. An empirically-calibrated simulation shows this difference understates adaptation by about 30--80%, depending on the averaging window. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.22028 |
| By: | Wang, Wei; Cai, Yongyang |
| Abstract: | Trade policies are becoming increasingly persistent and play an important role in shaping global production, trade, and emissions patterns. Because such policies affect economic agents’ expectations about future market conditions, their impacts may extend beyond contemporaneous trade reallocation through capital accumulation and climate–economy feedback. This paper develops a forward-looking integrated assessment framework that incorporates sector-level bilateral trade to evaluate the dynamic effects of U.S. tariffs and the European Union’s Carbon Border Adjustment Mechanism (CBAM). The results show that endogenous capital accumulation substantially amplifies the effects of trade policies on welfare, emissions, and employment. U.S. tariffs primarily redistribute welfare toward the United States while having little effect on global emissions. In contrast, CBAM generates larger emissions reductions but concentrates both welfare losses and emissions-reduction burdens in developing and transition economies. We also find significant dynamic employment adjustments, with substantial differences between short-run and long-run responses across regions and sectors. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404469 |
| By: | Ina Meyer; Mark Sommer (WIFO); André Baumgart (University of Natural Resources and Life Sciences Vienna, Institute of Social Ecology); Nina Eisenmenger (University of Natural Resources and Life Sciences Vienna, Institute of Social Ecology); Doris Virág (University of Natural Resources and Life Sciences Vienna, Institute of Social Ecology); Kurt Kratena (Centre of Economic Scenario Analysis and Research); Willi Haas (University of Natural Resources and Life Sciences Vienna, Institute of Social Ecology) |
| Abstract: | Growth in resource use is a key driver of climate change and environmental degradation. In recognition of this, a few governments have set targets to reduce their countries' per capita resource use while striving to achieve the goals set out in the Paris Agreement. In this context, the concept of the circular economy (CE) has attracted mounting interest as a means of mitigating climate change, reducing resource use and waste generation, while advancing economic performance. This paper uses a mass-balanced biophysical model (CeAT) linked to a macroeconomic model (DYNK) of the Austrian economy to analyse different stock-flow scenarios, combining a decarbonization scheme with CE strategies at varying levels of ambition. The analysis examines Austria's buildings, transport, and electricity sectors, evaluating economic impacts by employment, GDP, and disposable income results. The framework incorporates two stylized indirect rebounds effects arising from CE strategies of narrowing, i.e. reduced growth in infrastructure, buildings or car fleets. These rebound effects, driven by the reallocation of financial resources, manifest through two distinct consumption pathways: service-oriented and goods-oriented expenditure patterns. Findings indicate, the strong CE scenario can achieve substantial dematerialization. At the same time, it shows potentially the highest average growth rates in disposable income when combined with a service-oriented rebound. First order CE strategies (refuse, rethink, reduce) are therefore of key importance for the triple agenda of climate mitigation, resource use reductions and economic growth. Particularly, demand-side reductions can enhance economic performance if the rebound effects are constrained by reallocating the freed-up expenditure to low-material-intensity services. |
| Keywords: | Decarbonization, Scenario analysis, Indirect rebound effect, Resource consumption, Economic impact analysis, Circular economy |
| Date: | 2026–08–13 |
| URL: | https://d.repec.org/n?u=RePEc:wfo:wpaper:y:2026:i:732 |
| By: | Sawerengera, Jane; Wang, Jingjing; Berrens, Robert |
| Abstract: | As surface water stress intensifies across the western US, sustaining agricultural production and meeting environmental and urban water demands has increasingly become one of challenges to resource management in the region. This study examines the willingness of agricultural water users to participate in a voluntary seasonal fallowing program designed to reallocate water from agricultural to environmental uses without permanently retiring productive land in the Middle Rio Grande Conservancy District in New Mexico. Using primary data from a large-scale survey, we model the sequential decision to participate and how many acres to fallow conditional on participation using the Heckman selection model. Results suggest that payment incentive and attitudes towards transferring water rights to environmental uses positively influence willingness to participate in the fallowing program. Experience in market-based land and water transactions is influential in both the decision to participate and how many acres to enroll. This suggests that payment may be more relevant in attracting program participation while the intensity of participation depends on factors that develop over time. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404488 |
| By: | Benjamin, Catherine; Delamarre, Alice; Dupuy, Christine; Gouaisbaut, Antoine; Petillon, Julien |
| Abstract: | This paper estimates the implicit value of salt marsh ecosystem services along the French Atlantic coast using a hedonic pricing framework applied to over one million residential transactions across 16 departments (2012–2021). We estimate separate Box-Cox hedonic models for each department, systematically rejecting the log-linear specification and documenting substantial cross-departmental heterogeneity in marsh capitalization effects. Salt marsh proximity exerts a predominantly negative effect on property prices in most departments, with sign reversals in coastal configurations where marshes form part of a broader amenity bundle. The PPRi flood risk indicator is positively capitalized in most departments, consistent with a regulatory salience effect rather than risk compensation. These results suggest that housing markets capitalize regulatory constraints and amenity bundles rather than ecosystem service value per se, with direct implications for coastal conservation policy and benefit-transfer exercises |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404492 |
| By: | Liu, Xuan |
| Abstract: | Large-scale water resource reallocations combat regional scarcity but often obscure localized environmental costs. Evaluating China's South-to-North Water Diversion Project using a synthetic difference-in-differences framework, we estimate that the project increased topsoil salinity by an average of 3.16% in water-receiving counties. We show that this salinization is driven by a dual mechanism: new canal seepage artificially raises local water tables, while prohibitive marginal water prices prompt farmers to reduce irrigation, disrupting the traditional downward salt leaching process. The effects of this ecological shift are highly asymmetrical. Because post-diversion salinity remains safely within the tolerance range of winter wheat but systematically breaches the physiological yield-reduction threshold of summer maize, the environmental burden falls disproportionately on the summer growing season. Consistent with this biophysical constraint, we find that farmers rationalized production by reducing their maize acreage by 19%. Incorporating these estimates into structural agronomic models, we calculate that this asymmetric soil degradation exacts a marginal shadow cost of 920 million RMB per year in the agricultural sector. |
| Keywords: | Resource/Energy Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404732 |
| By: | Binte Ali, Suraiya; Jarrett, Uchechukwu; Koppa, Nisha; Miller, Steve J. |
| Abstract: | With the large number of empirical estimates of climate change damages, particularly heat stress shocks and ad hoc recommendations of trade as an adaptation tool in combating climate change, empirical evidence of trade’s mitigative effect is relatively scarce, if at all available. In empirically investigating this role of trade, we find evidence in support of trade reactions to past shocks in heat stressors, as well as hedging against future shocks in global agricultural markets. We also find that successful hedging via trade is successful as countries can diversify their supply, thereby reducing associated price volatility, however, this comes at the expense of higher agricultural production volatility. Finally, our analysis highlights the relevance of the weather characteristics of trading partners, with successful hedging along the breadth (increased partnerships) and depth (increased value) of trade driven by countries in different and the same agroecological zones respectively. |
| Keywords: | International Relations/Trade |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404678 |
| By: | Coulibaly, Salifou K.; McNamara, Paul |
| Abstract: | This paper analyzes the nonlinear and stage-specific impacts of rainfall variability on cocoa yields in Côte d’Ivoire, the world’s leading cocoa producer. We combine a georeferenced Standardized Precipitation Index (SPI) dataset (1981–2025) with farm-level survey data collected during two contrasting climate years: a drought year (2022) and a near-optimal year (2023). Results reveal three key findings. First, the rainfall–yield relationship is highly nonlinear, exhibiting both Ushaped and inverted U-shaped patterns across seasons, suggesting that linear specifications may misestimate climate impacts. Second, climate sensitivity varies by production stage and baseline conditions: moisture availability during the growing season is the primary constraint under drought, while pre-season water recharge becomes more critical in wetter conditions. Third, climate effects are asymmetric, with yield losses from moisture deficits exceeding gains under favorable rainfall, indicating substantial downside risk for farmers operating near optimal conditions. Herbicide expenditure per hectare positively affects yields in the favorable year, underscoring the importance of weed management, while plantation age is negatively associated with productivity, consistent with declining yields in older cocoa stands. |
| Keywords: | International Development |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404652 |
| By: | Jannik Reinbold; Thomas Steger |
| Abstract: | Higher atmospheric carbon concentrations increase extreme heat on both the extensive and intensive margins. We develop a stochastic life-cycle model in which daily heat shocks raise mortality risk, agents adapt to protect themselves, and health investment slows biological aging. We calibrate it to U.S. data and study the incidence of a major damage channel — heat-induced mortality — showing how exogenous differences in wage income generate unequal welfare losses across the income distribution. Comparing life-cycle outcomes under daily heat-shock distributions associated with SSP5-8.5 to an SSP1-2.6 benchmark, the average agent loses about 0.10 years of life expectancy, and the loss is regressive: 0.31 years for the poorest income decile against 0.05 years for the richest. Welfare losses are substantial and likewise regressive: 0.90% in CEV on average, ranging from 1.23% for the poorest decile to 0.60% for the richest, and conditional on survival to age 50, from 6.48% to 1.32%. Poor agents lose mainly through reduced survival, richer agents through consumption forgone to adaptation. Absent adaptation, both losses are far larger and almost flat in income, so adaptation accounts for essentially the entire income gradient. Climate denial raises welfare losses most among high-income agents. |
| Keywords: | daily heat shocks, mortality, adaptation, biological aging, life-cycle model, welfare, Incidence, climate denial |
| JEL: | I14 Q54 D63 D15 J17 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12885 |
| By: | Chaves Morone Pinto, Bruno; Mieno, Taro |
| Abstract: | This paper examines the impact of extreme heat and water deficit on federal crop insurance indemnities for corn and soybeans, differentiating by irrigation status. Using county-level administrative data from the USDA Risk Management Agency for 2011–2023, we normalize indemnities into yield-equivalent shortfalls (bushels per acre) and estimate how Extreme Degree Days and water deficit relate to insured losses for irrigated versus non-irrigated production under Revenue Protection and Yield Protection policies. Compared with rainfed operations, irrigated operations are significantly less heat sensitive, with the residual effect of extreme heat on irrigated operations statistically indistinguishable from zero for corn. Water deficit exhibits a U-shaped relationship with insured losses: non-irrigated operations realize more losses under high levels of water deficit, while irrigated operations have more indemnities associated with very negative water deficit values (excess moisture). These results are robust to alternative temperature thresholds, compound heat-drought interactions, and alternative fixed effects specifications. Our findings suggest that irrigated operations are associated with substantially lower weather sensitivity of insured losses in the contract-defined loss region, pointing to a potential adaptation dividend for the Federal Crop Insurance Program. |
| Keywords: | Risk and Uncertainty |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404420 |
| By: | Calacino, Anthony (University of Oxford) |
| Abstract: | Do competitive local elections impact environmental protections in consolidating democracies? Existing research on protections, and public goods more generally, remains divided. Also, past research tends to overlook how local politicians rarely control environmental stringency unilaterally. This paper contributes on both fronts. First, it argues the effect of competition depends on politicians' expectations of a voter backlash. In competitive contexts, incumbents face demands for private goods from special interests, which often requires limiting environmental protections. Politicians are more likely to give into these demands when the consequences are unlikely to become salient to voters. The second point is that even when local politicians lack complete control over protections, they can turn to a strategy this paper calls ``suppressing the state'', whereby mayors interrupt other authorities' attempts to provide public goods. The theory is tested by studying forest protections in the Brazilian Amazon. I leverage the unpredictability of El Niño/Southern Oscillation (ENSO) and effects on smoke from fires as plausibly exogenous variation in visibility of degradation for causal identification. The analysis shows competition decreases deforestation when weather conditions exacerbate fires and smoke, but it increases deforestation when weather conditions render externalities of deforestation less visible. Qualitative analysis of over 100 expert interviews complements the quantitative results, supporting the idea that mayors suppress federal enforcement officials when fires from deforestation are set to be mild. The findings clarify local electoral dynamics and environmental governance with wider implications for the study of the politics of public goods. |
| Date: | 2026–07–17 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:b3w8q_v1 |
| By: | Badruddoza, Syed; Davis, James; Paudel, Krishna |
| Abstract: | This paper estimates the dynamic relationship among conservation policy, water quality, and local income using county-year data on USDA Environmental Quality Incentives Program (EQIP) spending, nitrogen concentration, and income. We develop a five-stage identification strategy that combines two-way fixed effects, pre-program double/debiased machine learning residualization, instrumental variables, a triangular 3SLS system, local projections, and a longrun decomposition of direct and income-feedback channels. Preliminary results show that EQIP water-practice spending has a negative but statistically insignificant contemporaneous effect on nitrogen concentration. Local projection estimates provide limited evidence of persistent pollution reductions. However, alternative specifications that restrict the sample to later stages of the program, particularly the post-1996 and post-2001 periods, suggest that EQIP is associated with a small but persistent increase in county income. The income-feedback channel may contribute to an initial increase in county-level pollution, and these results hold after controlling for upstream nitrogen pollution and population changes. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404464 |
| By: | Dudek, Matthew |
| Abstract: | California’s renewable portfolio standard requires a rapid de-carbonization of the state’s electricity supply by 2045. Despite renewables’ falling fixed costs, increased reliance on intermittent, primarily solar, generation creates two challenges for California’s grid operator. First, maximum solar generation does not coincide with peak demand during the day. Second, locations with the greatest generation potential are distant from the state’s demand centers. The spatial and temporal mismatch between renewable supply and demand increases the frequency of line congestion, causing localized curtailment despite the willingness to pay elsewhere. Utility-scale storage promises to mitigate the inefficiencies of intermittent generation by allowing owners to arbitrage electricity across time and space. My research investigates whether batteries operating in California’s wholesale electricity market have increased the productivity of renewables, indicated by reductions in curtailment, and whether these impacts varied with batteries’ location. I find that the marginal MWh of electricity used to charge batteries at noon in California resulted in a 0.5 MWh reduction in solar curtailment, which was largely driven by storage capacity additions near solar generators. |
| Keywords: | Resource/Energy Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404734 |
| By: | Poornima Varma; Sunghun Lim; Drishti Sharma |
| Abstract: | Do global value chains (GVCs) make firms cleaner, and under what conditions? Leveraging rich firm-level data from India in the period of 2010–2024, this study investigates the impact of GVC participation on firms’ environmental performance. To address dynamics and heterogeneous responses, we estimate dynamic panel threshold regressions with firm growth as the regime variable. We find that GVC participation raises energy and carbon intensity for low-growth firms but reduces both—and increases renewable energy use—for high-growth firms. Channel decomposition shows that forward participation delivers the clearest efficiency and decarbonization gains in the high-growth regime, while backward participation improves energy efficiency at high growth yet exhibits mixed carbon effects; in the low-growth regime, forward linkages raise intensity whereas backward linkages are comparatively less harmful or even carbon-reducing. This paper underscores the capacity-dependence of trade integration’s environmental impact and shows that policy can shift the relevant margin through finance, R&D, and compliance infrastructure. |
| Date: | 2026–08–18 |
| URL: | https://d.repec.org/n?u=RePEc:iim:iimawp:14736 |
| By: | Jhorland Ayala-García; Jaime Alfredo Bonet-Moron; Eduardo Haddad; Inácio Araújo |
| Abstract: | Around the world, demographic transitions are reshaping consumption patterns and influencing environmental outcomes. In Colombia, demographic change is expected to alter household spending, reducing demand in sectors such as education and transportation while increasing consumption in healthcare. These shifts have implications for energy demand and CO₂ emissions. This study examines the relationship between demographic change and consumption behavior across age groups, using data from the 2016-2017 National Household Budget Survey and age-specific projections for 2020-2050. We use Seemingly Unrelated Regression models to estimate sectoral consumption shares based on population age and project the sector specific trends to 2050. A regional input-output model is then applied to assess the impact of projected changes in consumption on total CO₂ emissions. Findings suggest a national decline in emissions by 2050, though regional disparities emerge: Bogotá and the Central-East region may see increases, while other regions are projected to experience reductions.*****ABSTRACT: Around the world, demographic transitions are reshaping consumption patterns and influencing environmental outcomes. In Colombia, demographic change is expected to alter household spending, reducing demand in sectors such as education and transportation while increasing consumption in healthcare. These shifts have implications for energy demand and CO₂ emissions. This study examines the relationship between demographic change and consumption behavior across age groups, using data from the 2016-2017 National Household Budget Survey and age-specific projections for 2020-2050. We use Seemingly Unrelated Regression models to estimate sectoral consumption shares based on population age and project the sector specific trends to 2050. A regional input-output model is then applied to assess the impact of projected changes in consumption on total CO₂ emissions. Findings suggest a national decline in emissions by 2050, though regional disparities emerge: Bogotá and the Central-East region may see increases, while other regions are projected to experience reductions. |
| Keywords: | Demographic change, Consumption patterns, CO₂ emissions, Population aging, climate change, Cambio demográfico, Patrones de consumo, Emisiones de CO₂, Envejecimiento de la población, Cambio climatico |
| JEL: | Q56 J11 D12 R15 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:bdr:region:348 |
| By: | Battiston, Stefano; Monasterolo, Irene; Montone, Maurizio |
| Abstract: | Firms’ investments in green technology are crucial for investors’ alignment to the Net Zero target. However, it is still unclear whether these investments are rewarded by the market, particularly in the long run. Using a science-based technological measure of greenness, we find that adopting sustainable technologies leads to a long-run improvement in fundamentals that is only partially reflected in stock prices. Correspondingly, firms with greener technologies achieve higher returns over a multi-year period and are better positioned for the transition to a low-carbon economy. These effects are especially pronounced in financially developed countries and among firms with better climate-related disclosure. |
| JEL: | G10 G12 G14 G15 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19337 |
| By: | Liang, Xiaomeng; Yang, Chenyujing; Xue, Yongji |
| Abstract: | Balancing ecological restoration and grain production is a core challenge for land management in arid and semi-arid regions. Large-scale ecological engineering programs are often assumed to constrain agricultural output through land-use competition, yet rigorous causal evidence on their long-term effects and underlying mechanisms remains scarce. This study investigates whether and how China’s Three-North Shelter Forest Program (TNSFP) affects grain production. Guided by the social–ecological systems framework and ecosystem services theory, we hypothesize that large-scale ecological restoration can enhance agricultural output through improvements in ecosystem services rather than crowding out cropland. Using county-level panel data from China covering 2000–2022, we estimate the causal impact of TNSFP on grain production employing a two-way fixed effects model, complemented by the Callaway and Sant’Anna difference-in-differences approach (CSDID), event-study analysis, placebo tests, and multiple robustness checks. Grain production data are combined with satellite-derived vegetation indices, air quality indicators, and ecosystem quality measures to identify mechanism pathways. The results show that TNSFP significantly increases county-level grain production, with baseline estimates indicating an average rise of approximately 3.4 units and larger effects after controlling for agricultural inputs, climate, and socioeconomic conditions. CSDID estimates confirm robust positive effects, . Event-study results reveal negligible pre-treatment trends and gradually accumulating post-treatment effects. Mechanism analysis demonstrates that improved vegetation cover, enhanced air quality, and overall ecosystem quality jointly promote grain production, with ecosystem quality playing a dominant role. Significant regional and land endowment heterogeneity is observed, with stronger effects in cropland-abundant counties and limited impacts in Northwest China. These findings provide new causal evidence that ecological restoration can generate synergistic benefits for land restoration and food production, offering important implications for sustainable land management in dryland regions. |
| Date: | 2026–07–15 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:jmdz7_v1 |
| By: | Kang, Nawon; Rouhi Rad, Mani; Nayga, Rodolfo |
| Abstract: | Drought is one of the most consequential climate shocks facing agricultural produc- tion. This paper examines the cost of drought and producers' adjustment to it using panel data on more than 200, 000 crop-producing farms in the United States. Using panel xed eects models with farm and state-by-year xed eects, we nd that each additional week of severe drought reduces prot by 2.2%, while each additional week of extreme-or-worse drought reduces prot by 6.2%. The dominant mechanism is re- duced production: drought lowers crop yields, increases the incidence of zero harvested acreage, and reduces the total value of production, while farm-level price responses are limited and government payments only partially oset losses. Farms with greater base- line irrigation capacity experience smaller drought-induced losses under severe drought and smaller drought-induced increases in government payments, consistent with irri- gation mitigating drought damages primarily through production stabilization. These findings show that drought is not only a yield shock, but a broader farm income shock. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404480 |
| By: | Peter Boswijk (University of Amsterdam); Cees Diks (University of Amsterdam); Simon Trimborn (University of Amsterdam); Matteo Valle (University of Amsterdam) |
| Abstract: | The aim of this paper is to determine from market expectations how firms are affected by risks arising from environmental regulation. We use a text-based measure of environmental regulatory stringency derived from U.S. EPA legal documents and industry-level relevance scores to capture time-varying regulatory stringency exposure. We find that environmental regulatory stringency carries a positive and statistically significant return compensation, especially for firms with high cash holdings. For firms with low cash holdings, the effect is highly volatile, showing investors are uncertain about a firm's future when faced with stricter regulation. Firms’ environmental profiles further matter, as high-emission firms' returns are negatively affected when regulatory stringency increases. Because regulatory text is released infrequently, challenging real-time risk analysis, we utilise our studies insights to derive a high-frequency, market-expectation capturing Environmental Regulatory Risk Index (ERRI). We show that ERRI captures shifts in investors’ expectations of environmental regulatory stringency and how ERRI reacts during environmental policy and political developments. |
| Date: | 2026–07–15 |
| URL: | https://d.repec.org/n?u=RePEc:tin:wpaper:20260044 |
| By: | Fernández-Villaverde, Jesús; Gillingham, Kenneth; Scheidegger, Simon |
| Abstract: | There is a rapidly advancing literature on the macroeconomics of climate change. This review focuses on developments in the construction and solution of structural integrated assessment models (IAMs), highlighting the marriage of state-of-the-art natural science with general equilibrium theory. We discuss challenges in solving dynamic stochastic IAMs with sharp nonlinearities, multiple regions, and multiple sources of risk. Key innovations in deep learning and other machine learning approaches overcome many computational challenges and enhance the accuracy and relevance of policy findings. We conclude with an overview of recent applications of IAMs and key policy insights. |
| Keywords: | Climate change |
| JEL: | C61 E27 Q5 Q51 Q54 Q58 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19468 |
| By: | Faye Salimata (UCAD - Université Cheikh Anta Diop de Dakar [Sénégal]) |
| Abstract: | Household waste management presents a significant challenge for both developed and developing countries. Sustainable waste management is strongly determined by the participation and management behavior of households, primary producers. This paper aims to estimate households' willingness and ability to pay for the household waste management service and identify its determinants. The study is based on data collected as part of the project named "Vivre Avec l'Eau" ("Live With Water"), which seeks to mitigate the impact of flooding in the suburbs of Dakar while integrating waste management as a key dimension. Using the contingent valuation method, the results show an average monthly willingness to pay (WTP) of 2034 CFA francs with a standard deviation of 1314 CFA francs. WTP is strongly influenced by factors such as household income, the education level of the household head, and knowledge of waste management practices. Wealthier households or those with higher education levels are not only more willing to pay but also propose significantly higher amounts. The low quality and unreliability of the existing waste collection service reduce the willingness to pay. Furthermore, the perception of health risks associated with waste management is a key determinant in the willingness to contribute to waste collection services. Knowledge of waste management and sanitation practices increases households' willingness to pay for improved services. As for waste valorization, such as recycling and reuse, it may reduce the amount of waste to be disposed of, meaning that households may be less inclined to pay higher fees for waste services. |
| Abstract: | La gestion des déchets ménagers constitue un défi important tant pour les pays développés que pour les pays en développement. Le présent article a pour objectif d'estimer la volonté et la capacité des ménages à payer pour le service de ramassage des déchets ménagers et d'identifier ses déterminants. Utilisant la méthode d'évaluation contingente, les résultats révèlent un montant du CAP moyen de l'ordre de 2034 FCFA par mois avec un écart-type de 1314 FCFA. Ce dernier est déterminé par le revenu des ménages, le niveau d'éducation du chef de ménage et les connaissances en gestion des déchets. Entre autres facteurs, les ménages plus aisés ou disposant d'un niveau d'éducation supérieur se montrent plus enclins à payer des montants plus élevés. La faible qualité et de la non fiabilité du service de collecte existant réduisent la propension à payer. Quant à la valorisation des déchets tels que le recyclage et la réutilisation, elle peut réduire la quantité de déchets à éliminer, par conséquent, le ménage peut ne pas être disposé à payer plus cher pour les déchets. |
| Keywords: | Environment, sustainable development, waste management, household willingness to pay, Environnement, développement durable, gestion des déchets, consentement à payer des ménages |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05656472 |
| By: | Hauck, Katherine; Kishore, Siddharth |
| Abstract: | This paper studies how California’s Sustainable Groundwater Management Act (SGMA) has changed farmland use and farmland values in the Central Valley. We use a spatial regression discontinuity around the perimeter of critically overdrafted (CO) subbasins. We then add a triple-difference layer that uses surface water district membership as a second margin and the year of the Groundwater Sustainability Plan (GSP) filing deadline as the third. The crop-side outcome is the parcel-level share of cropped acres in young perennial plantings, from the Land IQ panel for 2014 and 2016 and 2018 through 2023. The land price outcome is the log real sale price per acre, from Acres Inc. transactions for 2016 through 2023. New young perennial planting in CO basins falls by about 4.4 percentage points in 2022, the first full crop year after CO basin GSPs took effect. The drop persists in 2023. CO basin land prices show no significant discount. We interpret the joint pattern as evidence that regulation reallocates land use before it reallocates land value. The intensive margin (price) absorbs most of the SGMA shock through option value and capitalization of surface water rights, while the extensive margin (planting) bears the visible part of the adjustment. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404486 |
| By: | Brian Greaney; Joseph S. Shapiro; Katherine R. H. Wagner |
| Abstract: | We study the optimality of human groundwater extraction from many of the world’s 3, 400 aquifers, where institutional or market failures may produce non-optimal extraction decisions. We use remote sensing and economic data to estimate a dynamic model of water extraction for each aquifer, recover the discount factor that rationalizes observed groundwater extraction, and compare it against Ramsey and market benchmarks. Three- to four-fifths of aquifers are extracted more rapidly than is optimal, decreasing aquifer present value by several percent, and creating trillions of dollars in present value welfare losses. Policies that guarantee users constant water quantities indefinitely, through subsidies or prior appropriation, or policy rules that fully discount future extraction, generate larger welfare costs. A sustainable extraction path that maintains current fill forever generates meaningfully lower welfare than the optimal extraction path, because most aquifer stocks are already inefficiently low. |
| Keywords: | groundwater extraction; dynamic programming; renewable resource management; tragedy of the commons; agricultural production |
| JEL: | E22 H23 H43 Q25 |
| Date: | 2026–08–10 |
| URL: | https://d.repec.org/n?u=RePEc:fip:feddwp:103651 |
| By: | Sebastian M. Peters; Jürgen Huber; Michael Kirchler |
| Abstract: | The climate crisis is one of the major challenges mankind currently faces and, through green investments, the finance industry can play a crucial role in tackling it. However, this topic still appears to be controversially discussed in finance, and only very few studies have investigated the behavior of finance professionals with respect to green investments. In this experiment, we investigate the behavior of 174 finance professionals and 192 participants of the general population, measuring drivers of decision making in green investments. We find in both participant pools that individuals who say it feels better to invest in green assets also do so. Between the two subject pools, we find no difference in investment propensity in green assets. Furthermore, we observe that financially literate participants invest significantly more green and achieve higher portfolio returns. Interesting, while 89 percent of participants say they would not be ready to forego returns for greener assets, only 10 percent select the portfolio with the highest possible return. |
| Keywords: | Green investments, finance professionals, experimental finance |
| JEL: | C90 G40 G41 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:inn:wpaper:2026-07 |
| By: | Njiraini, Georgina; Chelang’a, Philemon; Yattani, Adho; Kirui, Oliver K.; Popoola, Olufemi |
| Abstract: | Nigeria is Africa’s largest fish consumer by volume and a leading producer. Fisheries and aquaculture contribute between 3 and 4 percent of national GDP, provide around 40 percent of the animal-source protein consumed by Nigerians, and support the livelihoods of around 12 million artisanal fishers and fish farmers. Women constitute over 60 percent of the sector workforce. However, the sector is locked in a structural supply-demand crisis. Domestic fish production meets only about one-third of annual demand of between 3.2 million and 3.6 million mt. The domestic supply deficit of approximately 2.4 million mt is filled by imports that cost Nigeria over USD 1.0 billion annually. Domestic fish production has begun to respond to the growing demand for fish in Nigeria. The Federal Department of Fisheries and Aquaculture reports output rising to 1.4 million mt in 2025 from 1.1 million mt in 2024. This increase in production was attributed to improved federal-state coordination, the use of better aquaculture technology, and establishing more sustainable marine farming systems with the support of Nigeria’s development partners. Nonetheless, the structural deficit in fish supply for Nigerian markets remains large. The constraints hindering growth in Nigeria’s fisheries and aquaculture sector include: A fish-feed cost crisis—feed makes up 60 to 70 percent of aquaculture production costs, The near-absence of cold chains for storing, transporting, and marketing fish, resulting in postharvest losses of up to 40 percent, Illegal, unreported, and unregulated (IUU) fishing costs of USD 450 million per year, Fragmented fish fingerling supply systems, Financial exclusion of artisanal fishers, and An outdated governance framework centered on the Sea Fisheries Act of 1992. Moreover, climate change will acutely affect Nigeria’s fisheries and aquaculture sector. Under high-emission climate-change scenarios, its maximum marine catch potential will fall between 23 and 53 percent by 2050. This makes the scaling up of aquaculture not merely an economic growth option but a structural and nutritional necessity. However, aquaculture will also be adversely affected by a changing climate, with growth in aquaculture in Nigeria expected to decelerate from 11 percent per year between 2010 and 2015 to only 2 percent per year in the 2035 to 2050 period. The National Fisheries and Aquaculture Policy, 2025–2029, provides the operational framework for the growth of the fisheries and aquaculture sector. Its principal target is to achieve aquaculture output of 1.3 million mt by 2029 while cutting postharvest losses in half. This paper concludes that any strategic action plan for Nigeria’s fisheries and aquaculture sector must be built around closing the supply deficit through accelerated sectoral growth that is anchored in improved domestic feed and fingerling supply systems, cold chain investment at 12 priority fish landing sites, reforms of the Sea Fisheries Act to address IUU fishing losses, and a dedicated fisheries investment facility to correct the structural financial exclusion of Nigeria’s fisheries and aquaculture sector. |
| Keywords: | sustainability; sustainable aquaculture; fisheries; aquaculture; economic sectors; Nigeria; Africa; Sub-Saharan Africa; Western Africa |
| Date: | 2026–07–28 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:nsspwp:184055 |
| By: | Rabah Arezki; Frederick van der Ploeg; Rick van der Ploeg |
| Abstract: | Critical mineral maps portray known resource endowments as fixed geographic facts, yet the resource base is endogenous to both demand conditions and institutional factors. The prevailing framing of critical mineral scarcity ignores the extent to which resources are discovered only when it is profitable to do so. Using a two-region model of endogenous reserves, we show that exploration investment and discovered reserves respond to global demand shocks, world resource prices, and the institutional environment facing international resource companies, including explicit and implicit taxes on exploration and on exports, including export bans and restrictive trade measures in pursuit of value-chain upgrading. While export bans may be attractive as industrial policy, they risk being self-defeating: by discouraging exploration investment, they reduce the very resource base on which industrial ambitions depend. We document the global proliferation of export restrictions on critical minerals and discuss the policy implications for developing countries navigating the twin pressures of resource nationalism and the green transition. |
| Keywords: | critical minerals, endogenous resources, exploration investment, export ban, resource nationalism, green transition, developing countries |
| JEL: | Q31 Q32 Q38 F13 O13 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12877 |
| By: | Prest, Brian C. (Resources for the Future) |
| Abstract: | The social cost of carbon (SCC) is an estimate, in dollars, of the economic damages to society caused by an incremental ton of carbon dioxide (CO2) emissions. In 2023, EPA (US EPA 2023) produced updated, peer-reviewed SCC estimates, with a central value of $190 per metric ton of CO2 (in 2020 US dollars) for emissions occurring in 2020. EPA’s updated estimates also include estimates for other years beyond 2020 and other greenhouse gases of methane (CH4) and nitrous oxide (N2O), which are shown in Appendix Table A1. These estimates represent the most scientifically advanced, comprehensively documented, and peer reviewed set of SCC values available, and states are increasingly adopting EPA’s estimates to inform policy.As of early 2026, at least 15 US states had applied the social cost of greenhouse gases in one or more policy contexts. This report is intended for officials and analysts in states that are considering adopting the SCC as a policymaking and monitoring tool, refining how they already use it, or updating their preferred values in light of recent and ongoing scientific advances in methods and estimates. Section 2 provides background on the concept of the SCC and summarizes how US states have been using it. Section 3 provides a high-level summary of how the SCC is calculated, with particular attention to the four-module framework that underlies the SCC estimates from RFF and EPA. Finally, Section 4 summarizes considerations for jurisdictions designing their own guidance while providing detailed instructions on how states might apply it for their own policymaking purposes. |
| Date: | 2026–08–13 |
| URL: | https://d.repec.org/n?u=RePEc:rff:report:rp-26-11 |
| By: | Talukder, Anzalin; Yu, Mark; Adnan, K.M. Mehedi; Guney, Selin; Osei, Edward |
| Abstract: | This study examines how weather conditions affect sorghum yield across major sorghumproducing Texas counties from 1981 to 2020. Using a county-level panel dataset and a two-way fixed-effects model with Driscoll–Kraay standard errors, the analysis evaluates nonlinear precipitation effects, degree-day temperature exposure, and maximum vapor pressure deficit (VPD). Results show a nonlinear precipitation–yield relationship, indicating that both moisture deficits and excessive rainfall reduce productivity. Higher VPD is consistently associated with lower sorghum yields, while the estimated effect of extreme heat weakens after atmospheric dryness is included. Robustness checks support the main findings, while the soil water-holding capacity test provides limited evidence of moderation. These results highlight the importance of incorporating atmospheric moisture demand into climate-risk assessment and adaptation planning for semi-arid agricultural systems. |
| Keywords: | Production Economics |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404704 |
| By: | Shrestha, Kalyani; Amin, Modhurima |
| Abstract: | Climate affects food consumption both directly and indirectly through its effects on agricultural productivity and food prices. While the indirect pathways have received attention, the direct effects of climate on dietary intake remain poorly understood. This study examines how climate variables shape dietary intake across six major food groups: cereals, meat, seafood, dairy and eggs, fruits, and vegetables. We combine country-level food intake data from 185 countries with food prices, climate variables, and demographic controls for 2010 and 2018. To address endogeneity in food prices, we use neighboring-country food prices as instruments. The results show clear differences across food groups. Higher temperature and precipitation are positively associated with cereal and seafood intake, but negatively associated with meat, dairy, and eggs. Projections for 2050 show that food intake may increase most in low and lower-middle-income countries. These results highlight the need to include demand-side responses in climate and food policy. |
| Keywords: | Food Consumption/Nutrition/Food Safety |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404580 |
| By: | Liu, Huilin; Harou, Aurelie |
| Abstract: | Open crop residue burning creates serious environmental externalities, but the role of land tenure institutions in farmers’ burning decisions remains unclear. This paper examines how two major land reforms in rural China affected agricultural fires. Using county-level reform timing, satellite-based fire data, and a staggered difference-in-differences design, we find that the Land Contracting and Transfer Reform (LCTR) of 2003 increased agricultural fire occurrence and intensity, while the Land Titling Reform (LTR) of 2014 reduced it. We explain these opposing effects by showing that LCTR expanded production and limited the availability of labor, increasing the pressure to dispose of agricultural residue. By contrast, LTR reduced fires by changing planted area by strengthening tenure security, parcel level accountability and incentives to program long-term soil productivity. The findings show that land tenure institutions can affect pollution externalities in agriculture and that secure property rights can generate environmental benefits beyond direct regulation. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404438 |
| By: | Colin Davis (Doshisha University); Ken-ichi Hashimoto (Kobe University); Ken Tabata (Kwansei Gakuin University) |
| Abstract: | This paper studies how environmental policy designed to reduce transboundary pollution affects long-run productivity growth through shifts in the geographic location of industry. We construct a two-country endogenous growth and endogenous market structure framework in which there is a positive link between the geographic concentration of industry and the strength of knowledge spillovers from production to innovation. Emissions are generated as a byproduct of production. We show that an increase in the emissions tax of the country with a larger (smaller) share of industry lowers the concentration of industry leading to weaker (stronger) knowledge spillovers and a slower (faster) rate of productivity growth. In addition, we identify cases where a rise in the emissions tax of the country with a smaller share of industry lowers emissions while increasing productivity growth. With endogenous emissions taxes, a numerical analysis shows that stronger knowledge diffusion leads to higher tax rates, faster productivity growth, and lower global emissions. In contrast, trade liberalization leads to lower tax rates and eventually raises global emissions despite faster productivity growth. Our results highlight that the relationship between productivity growth and global emissions depends critically on the form of economic integration. |
| Keywords: | Asset bubbles; Emissions Taxes, Industry Location, Knowledge Diffusion, Trade Liberalization, Productivity Growth, Global Emissions, Endogenous Market Structure, Endogenous Policy |
| JEL: | F12 O40 Q56 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:kyo:wpaper:1129 |
| By: | Bettarelli, Luca; Furceri, Davide; Pizzuto, Pietro; Shakoor, Nadia |
| Abstract: | This paper empirically investigates the impact of economic and policy uncertainty on green innovation for a sample of 81 advanced and emerging market economies during the period 1976-2020. Our results show that increases in uncertainty lead to a long-lasting decrease in green innovation, measured by the number of new green energy patents. This effect holds for a wide set of technologies, it is larger during recessions and periods of higher financial stress, and in countries with less stringent environment protection regulations. Importantly, the effect of uncertainty on green patents is larger than on non-green patents. Results are robust to several sensitivity tests, including an instrumental variable approach and a difference-in-differences strategy. |
| Keywords: | Uncertainty; Innovation |
| JEL: | O31 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19540 |
| By: | Ferraro, Greg |
| Abstract: | Saltwater intrusion and flooding from sea level rise (SWISLR) causes substantial damage to coastal agriculture. Using real estate sale records, measures of coastal flooding, and measures of relative mean sea levels, I estimate SWISLR’s effect on agricultural land sales over 1985 to 2023 from Texas to New Jersey using a spatial differencein- differences Ricardian approach accounting for expectations of future exposure. This study is the first and most spatially comprehensive fair market value investigation of SWISLR’s effects on agriculture, at least in the US. Total damages for the approximately 70.5 million acres within the study area amount to nearly $4 billion [$0.5 billion, $7 billion, 95% CI]. This damage is concentrated—the approximate 8.9 million acres of agricultural land within 5 miles of the coast suffered about $1000 per-acre in damage—and doesn’t include complete land loss. Landowners anticipate and capitalize future worsening exposure into their land values, and the majority of this updating occurs because of hurricane rain exposure. Though, despite forecasting future SWISLR exposure, landowners are evidently not mitigating damages. This is possibly because no effective options exist. These results suggest agricultural sea level rise impacts are substantially underway and insufficiently addressed. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404446 |
| By: | Bhattarai, Keshav; Adhikari, Ambika P. (Institute for Integrated Development Studies (IIDS)) |
| Abstract: | As Nepal urbanizes, expands infrastructure, strengthens local governments, and explores deeper connectivity with India and China, climate change is increasing floods, landslides, heat, and water insecurity. Rapid internal migration, rising disaster risks, youth outmigration, and dependence on remittances are also revealing the limits of conventional urban development, especially in the mountainous region. The central challenge for Nepal is no longer just to accommodate growing towns and cities, but to build settlements that are safe, productive, environmentally resilient, and capable of sustaining long-term prosperity. This paper argues that Nepal's urban future must be guided by a new development paradigm centered on safe, smart, and resilient settlements. This is even more applicable for Nepal’s mountainous regions. This article presents an integrated framework that links risk-sensitive land use, climate-resilient infrastructure, ecological stewardship, productive local economies, digital technologies, and accountable governance to emerging opportunities in air, rail, and highway connectivity, data centers, medical tourism, higher education, and climate services. Rather than viewing urbanization as an inevitable consequence of rural-to-urban migration and economic growth, the article proposes that well-planned settlements should become Nepal's primary platform for reducing disaster risk, creating jobs, expanding exports, and strengthening national resilience in the twenty-first century. |
| Date: | 2026–07–30 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:kjhq3_v1 |
| By: | Dureja, Abhishek (Plaksha University); Jain, Tarun (Indian Institute of Management Ahmedabad) |
| Abstract: | We estimate the effect of physiological heat stress on tertiary healthcare utilization and its fiscal cost using the universe of claims from a statewide social health insurance program in Andhra Pradesh, a large tropical Indian state (2007-2015). Exploiting plausibly exogenous day-to-day variation in wet-bulb temperature within districts, we find that a day with wet-bulb temperature of at least 28 °C relative to a day in the reference bin [24 °C, 26 °C), raises the number of daily claims by 3.5%, total disbursements by 4%, and the likelihood that a district records an in-hospital death on a given day by 3.52 percentage points. Utilization is flat across cooler temperatures and rises steeply once wet-bulb temperature exceeds roughly 26 °C. Aggregated over a year, extreme-heat days add about 2.4% to program disbursements -- a lower bound on the fiscal burden. Dry-bulb temperature yields a gradient of the opposite sign, because the hottest ambient days fall in the dry pre-monsoon while physiological stress peaks in the humid monsoon. Studies relying on dry-bulb temperature in monsoonal settings may therefore recover sign-reversed estimates and understate the health costs of a warming climate. |
| Keywords: | climate change, heat stress, tertiary healthcare utilization, fiscal costs, India |
| JEL: | H4 I15 Q54 |
| Date: | 2026–08–11 |
| URL: | https://d.repec.org/n?u=RePEc:idd:wpaper:3 |
| By: | Lippsmeyer, Margaret; Cameron-Harp. Micah |
| Abstract: | Farm consolidation is often attributed to the possession of unique resources that increase productivity and reduce production risk. Water rights are an example of such a resource, increasing revenue generating potential while mitigating production risk. Using administrative groundwater records from Kansas spanning 1990–2021, we evaluate how groundwater rights influence correspondent survival and consolidation. Flexible parametric survival models indicate that correspondents holding larger and more senior groundwater rights experience lower hazards of exit. A 100 acre foot increase in groundwater allocation reduces the hazard of exit by 1.98%, while a ten-year increase in water right seniority reduces the hazard by 3.87%. Consistent with these survival patterns, groundwater ownership has become increasingly concentrated through time, with the top 10% of correspondents now controlling 38% of water rights and 55% of authorized groundwater allocation. These findings suggest groundwater rights confer a competitive advantage that contributes to consolidation dynamics. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404448 |
| By: | Picchio, Matteo; van Ours, Jan C. |
| Abstract: | High temperatures can have a negative effect on workplace safety for a variety of reasons. Discomfort and reduced concentration caused by heat can lead to workers making mistakes and injuring themselves. Discomfort can also be an incentive for workers to report an injury that they would not have reported in the absence of heat. We investigate how temperature affects injuries of professional tennis players in outdoor singles matches. We find that for men injury rates increase with ambient temperatures. For women, there is no effect of high temperatures on injuries. Among male tennis players, there is some heterogeneity in the temperature effects, which seem to be influenced by incentives. Specifically, when a male player is losing at the beginning of a crucial (second) fourth set in (best-of-three) best-of-five matches, the temperature effect is much larger than when he is winning. In best-of-five matches, which are more exhausting, this effect is age-dependent and stronger for older players. |
| Keywords: | Climate change; Temperature; Tennis; Injuries; Health |
| JEL: | J24 J61 Q51 Q54 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19428 |
| By: | O'Neill, Connor; Ala-Kokko, Kristiina; Nalley, L. Lanier; Tack, Jesse; Ma'ali, Safiah; Smith, Harrison; De Steur, Hans; Elli, Elvis |
| Abstract: | In South Africa, maize (Zea mays) plays a pivotal role in the agricultural economy and food security of the country, but climate change threatens the agricultural productivity of this crop. This study aims to estimate the change in maize yield associated with a 1°C and 2°C temperature increase in South Africa. Using a robust dataset of 38, 742 dryland maize yield observations from 1986 to 2018 at 92 trial locations across South Africa, we employ a fixed effects modeling approach to estimate the change in yield. Results suggest that a 1°C increase is associated with a 7.86% decrease in maize yield, and a 2°C increase is associated with a 17.31% decrease. The robustness of these results reinforces the necessity for focused policy and research on climate change alleviation in agriculture. |
| Keywords: | Production Economics |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404702 |
| By: | Yi Fan |
| Abstract: | Examining the economic impact of noise pollution from a lens of household is a burgeoning field in the study of environmental sustainability. Economics studies cover the source, measure, consequence of noise pollution, as well as the econometric methods used to identify the causal impact of noise pollution on socioeconomic welfare. There are broadly four major noise origins along with the industrial growth and urban development, which are airport, railway, urban traffic, and neighborhood. Four general kinds of measures or data sources are used in economics studies to capture the noise variations, namely, proximity to noise origins, real-time noise monitor records, household surveys, and administrative records on noise complaints. The socioeconomic consequences of noise pollution span from physical or mental health to happiness, violence and suicide, housing market capitalization, and inequality. In economics studies, generally three types of econometric methods are used to identify causal impact of noise pollution on the household's welfare, which are instrumental variable estimation, difference-in-difference estimation, randomized and quasi-natural experiments. The causal impact of noise pollution on household's socioeconomic welfare derived from economics studies can help guide policy efforts in allocating resources for noise elimination and conduct cost-benefit analysis. The economics research contributes to the general noise research from both conceptual and methodological perspectives: It expands the scope of research from sound-poof technology or site layout planning to human welfare, and endeavors to isolate the causal impact of noise pollution from other confounding factors. Future studies are warranted along the lines of environmental injustice of noise pollution and socioeconomic consequences in less developed countries when the data become more available. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.18676 |
| By: | Tian, Ziyue; Horan, Richard D.; Finnoff, David; Sims, Charles B. |
| Abstract: | Chronic Was, ng Disease (CWD) poses a major threat to Greater Yellowstone Area elk. CWD, which is always fatal, spreads through both direct contact and persistent environmental contamina, on via prions. Most bioeconomic studies on wildlife disease management focus on problems involving only direct transmission. Here we examine both direct and environmental transmission pathways. Analy, cally, we find environmental transmission makes disease control more difficult and costly, but not impossible. Numerically, we find environmental transmission drama, cally amplifies disease severity in the op, mal steady state, in spite of significantly greater controls being applied than if only direct transmission maJered. A second contribu, on is a new approach for numerically solving mul, -state, con, nuous-, me op, mal control models. Specifically, we use a combina, on of perturba, on methods (applied to highdimensional, stable invariant manifolds) and es, ma, on to obtain feedback control func, ons that can generate stable trajectories to the op, mal steady states from different ini, al states. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404455 |
| By: | Lindamood, Jackson; Sampson, Gabriel |
| Abstract: | Woody encroachment is a pressing land management challenge in grassland systems, impacting forage production, biodiversity, and ecosystem services. This study combines surveys of landowners and agricultural stakeholders with a hedonic price analysis of agricultural land sales and satellite-derived woody cover in Kansas to assess the economic implications of woody encroachment. Survey results indicate that high control costs, labor constraints, and difficulties prioritizing treatment areas are leading challenges to controlling woody encroachment. We find that participation in training and financial assistance programs is low, largely due to limited awareness, uncertainty about eligibility, and program complexity. Hedonic price model results show that increases in woody cover are associated with higher agricultural land values, with a one-percentage-point increase corresponding to an increase of $9–$27 per acre. These findings underscore the need for policies that lower control costs, clarify eligibility, and simplify participation. |
| Keywords: | Resource/Energy Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404744 |
| By: | Minh Ha-Duong (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - ENPC - École nationale des ponts et chaussées - IP Paris - Institut Polytechnique de Paris) |
| Abstract: | At Baku in 2024, climate negotiators fixed a new collective goal: $300 billion a year by 2035 for climate action in developing countries. Climate finance — the public and private flows developed countries mobilize to help developing countries cut emissions and adapt — is the magnitude that goal purports to measure, though no fund holds it and no counting method commands assent. Climate finance was assembled into an economic aggregate, in the lineage of GDP, through three ingredients that met between 2007 and 2014: the Copenhagen pledge supplied a political number in search of its object, the OECD's development-aid statistics supplied an accounting apparatus already standing, and economists in international organizations and development banks supplied the devices — markers, concessionality thresholds, attribution rules — that turned the two into a countable whole. A computational break-detection analysis of a multilingual corpus, blind to the calendar of the climate negotiations, corroborates this periodization. Four recurring controversies — concessional-loan valuation, Rio-marker credibility, mobilized-private-finance attribution, the aid/climate-obligation boundary — organize the field since 2015; a 2025 World Bank operation in Türkiye displays all four in one transaction. The ambiguity of these categories is not a flaw: it lets donors report mobilization and recipients audit obligation from the same number, making a distributive conflict administrable rather than resolved. |
| Abstract: | À Bakou en 2024, les négociateurs climat ont fixé un nouvel objectif collectif : 300 milliards de dollars par an d'ici 2035 pour l'action climatique dans les pays en développement. La finance climat, c'est-à-dire les flux publics et privés que les pays développés mobilisent pour aider les pays en développement à réduire leurs émissions et à s'adapter, est la grandeur que cet objectif prétend mesurer, alors qu'aucun fonds ne la détient et qu'aucune méthode de comptage ne fait consensus. La finance climat a été assemblée en agrégat économique, dans la lignée du PIB, par la rencontre de trois ingrédients entre 2007 et 2014 : l'engagement de Copenhague a fourni un nombre politique en quête de son objet, les statistiques d'aide au développement de l'OCDE ont fourni un appareil comptable déjà en place, et les économistes des organisations internationales et des banques de développement ont fourni les dispositifs (marqueurs, seuils de concessionnalité, règles d'attribution) qui ont fait des deux un tout comptable. Une analyse computationnelle de détection de ruptures sur un corpus multilingue, aveugle au calendrier des COP, corrobore cette périodisation. Quatre controverses récurrentes (valorisation des prêts concessionnels, crédibilité des marqueurs de Rio, attribution de la finance privée mobilisée, frontière entre aide et obligation climatique) organisent le champ depuis 2015 ; une opération de la Banque mondiale en Türkiye en 2025 les montre toutes les quatre dans une seule transaction. L'ambiguïté de ces catégories n'est pas un défaut : elle permet aux donateurs de déclarer une mobilisation et aux récipiendaires d'auditer une obligation à partir du même nombre, rendant un conflit distributif administrable plutôt que résolu. |
| Keywords: | climate finance, quantification, accounting categories, international organizations, organisations internationales, catégories comptables, finance climat |
| Date: | 2026–07–21 |
| URL: | https://d.repec.org/n?u=RePEc:hal:ciredw:hal-05558422 |
| By: | Deitrick, Lainey |
| Abstract: | Understanding which constraints most limit agricultural productivity requires evidence grounded in farmer priorities. This study uses Best–Worst Scaling (BWS) to rank perceived constraints to rice productivity among smallholder farmers in Madagascar. Survey data were collected from 408 rice-producing households in the Alaotra-Mangoro region. Farmers evaluated ten commonly cited constraints through repeated best-worst choice questions. Preferences were analyzed using a Random Parameters Logit model to estimate relative importance and capture heterogeneity. The results show a highly concentrated ranking of constraints. Climate risk is the most important perceived limitation by a wide margin. Irrigation ranks second, followed by fertilization. All remaining constraints account for only a small share of total preference importance. Subsample analyses by yield level, poverty status, and irrigation source show stable rankings but some variation in the strength of preferences across groups. These findings suggest that existing policy priorities emphasizing production practices, post-harvest losses, and market access may not fully align with farmer-identified constraints. By providing a clear hierarchy of perceived productivity barriers, this study offers farmer-centered evidence to inform more sustainable rice policies in Madagascar, with particular emphasis on climate risk and water management. |
| Keywords: | Production Economics |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404694 |
| By: | Leonard, Clara; Braun, Ben; Klooster, Jens van 't; Monnet, Eric |
| Abstract: | The Hormuz shock of February 2026 confronts the European Central Bank (ECB) with a familiar dilemma: inaction can risk entrenching inflation, while tightening risks deepening the slowdown and penalising renewable energy and cleantech investment. We argue that the ECB should be cautious and, if tightening proves necessary, ensure its operations shield renewable energy and cleantech sectors. Our analysis also reveals a growing gap between the ECB's communication on fossil fuel risks and its policy framework. |
| JEL: | F3 G3 |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140409 |
| By: | Philippine Coeugnet (LISIS - Laboratoire Interdisciplinaire Sciences, Innovations, Sociétés - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Université Gustave Eiffel, GABI - Génétique Animale et Biologie Intégrative - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Julie Labatut (LISIS - Laboratoire Interdisciplinaire Sciences, Innovations, Sociétés - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Université Gustave Eiffel); Michèle Tixier-Boichard (GABI - Génétique Animale et Biologie Intégrative - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Xavier Rognon (GABI - Génétique Animale et Biologie Intégrative - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Sophie Allais (PEGASE - Physiologie, Environnement et Génétique pour l'Animal et les Systèmes d'Elevage [Rennes] - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Nicolas Bedère (PEGASE - Physiologie, Environnement et Génétique pour l'Animal et les Systèmes d'Elevage [Rennes] - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Isabelle Goldringer (GQE-Le Moulon - Génétique Quantitative et Evolution - Le Moulon (Génétique Végétale) - AgroParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); G Restoux (GABI - Génétique Animale et Biologie Intégrative - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Co-designing poultry for crop-poultry systems: Genetic and organizational needs for agroecological transition. |
| Date: | 2026–07–12 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05698384 |
| By: | Guy Richard (DEPE - Direction de l'Expertise scientifique collective, de la Prospective et des Etudes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Jean-Michel Salles (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Michel Colombier (IDDRI - Institut du Développement Durable et des Relations Internationales - Institut d'Études Politiques [IEP] - Paris) |
| Abstract: | Les dernières canicules en Europe ont pris de court les populations et les pouvoirs publics, mais pas les scientifiques qui alertent depuis des décennies sur le réchauffement climatique. Pourquoi, dès lors, n'ont-ils pas été plus écoutés ? |
| Date: | 2026–07–09 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05690523 |
| By: | Füchtenhans, Marc |
| Abstract: | In order to investigate the impact of economic, environmental and social factors on the industrial environment, it is important to integrate sustainability dimensions into the planning and design of intralogistics and production processes. In the context of a primarily technology-driven Industry 4.0 and a more sustainable and human-centered Industry 5.0, this dissertation examines the benefits and applications of quantitative approaches in data-driven decision-making processes. It shows how different approaches can increase adaptability, optimize the use of resources and improve working conditions in intralogistics and production processes. Sustainability is not viewed as an isolated goal, but as an integral dimension that influences economic, environmental, social, and operational decisions. By addressing operational planning and design, a holistic perspective is developed on how sustainable, human-centered principles and resilience can transform industrial systems beyond improvements. This cumulative dissertation comprises seven contributions to the scientific literature written between 2019 and 2025. Four of these contributions were published in peer-reviewed scientific journals and two contributions were published in peer-reviewed conference proceedings. In addition, one working paper is included that had not yet been published at the time the dissertation was completed. The contributions address in different ways the overarching themes of economic growth, environmental sustainability, social responsibility, as well as human-centricity and resilience, in the application areas of intralogistics and production. The seven contributions contained in this cumulative dissertation contribute to three thematic research streams. The first stream deals with smart lighting systems and their relevance for energy-efficient and flexible intralogistics environments. The second stream examines demand response programs, in particular incentive-based programs, to regulate electricity consumption in production scheduling. The third stream is dedicated to planning-related challenges in production scheduling in the context of demographic change, particularly regarding an aging workforce. Despite the heterogeneity of the three research streams in terms of objectives and methodological approaches, they are conceptually linked by the overarching principle of a sustainable, human-centric and resilient approach. The first research stream focuses on smart lighting systems in intralogistics and comprises the first three contributions. The first contribution introduces the concept and practical relevance of smart lighting systems, showing their potential to reduce energy consumption and improve worker well-being. The second contribution conducts a systematic literature review on smart lighting systems and identifies a research gap in industrial applications. It integrates scientific literature with expert knowledge based on expert workshops to formulate hypotheses for future research using the example of order picking in warehouses. Based on the findings of the second contribution, the third contribution develops a simulation model to evaluate the operational strategies of smart lighting systems in warehouse environments. The results, validated by expert workshops and a case study, demonstrate significant cost and energy savings as well as practical implications for the implementation of smart lighting systems. The second stream of research comprises contributions four to six and examines incentive-based programs and their integration into and impact on production scheduling. The fourth contribution presents a bi-objective job-shop scheduling model with variable machine speeds that aims to balance energy efficiency and scheduling performance under incentive-based programs. Based on this model, the fifth contribution develops a genetic algorithm to approximate Pareto-optimal solutions for large datasets and provides insights into the complex interactions between production flexibility and different incentive-based programs. The sixth contribution extends the analysis by investigating how changes in the production schedule induced by incentive-based programs affect downstream supply chain performance. A simulation-based approach reveals the impact on inventory policies and highlights the trade-offs between energy flexibility and supply reliability. The third stream of research comprises contribution seven and addresses demographic change in production planning, with a focus on an aging workforce. The seventh contribution presents a systematic literature review on age-appropriate production planning and identifies research gaps related to the assignment of older workers in sequential production processes. It develops a practical production planning model that incorporates worker age and experience into scheduling decisions. This contribution demonstrates how considering employee diversity can lead to more inclusive and sustainable production systems. |
| Date: | 2025–12–18 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:160804 |
| By: | Alfano, Marco (University of Southampton); Goerlach, Joseph-Simon (Bocconi University) |
| Abstract: | Accounting for multiple responses to weather shocks drastically changes policy implications for adaptation to increasingly variable weather. Kenyan households react to temperature anomalies by sending migrants, by transiting to less climate-sensitive occupations, and by changing livestock species. Evidence suggests these are short-term adjustments, which respond significantly to common interventions. Randomised income transfers cushion consumption losses and decrease adaptation pressure, such as migration. Better infrastructure, instead, eases occupational transitions, reducing alternative adjustments, including migration and livestock composition. A model of joint migration, occupation, and livestock choices reveals long-term effects of these short-term shocks. Transitions to non-agriculture first act as a substitute for migration and subsequently as a stepping stone for later migration. |
| Keywords: | migration, weather shocks, coping strategies, development policies |
| JEL: | J61 O15 R23 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18857 |
| By: | Jaromczyk, Jerzy; Ifft, Jennifer; Ortiz-Bobea, Ariel |
| Abstract: | A growing literature documents how extreme weather and climate change affect farmers directly. Much less is known about how these shocks propagate to the institutions that finance and service them. In this study we exploit year-to-year fluctuations in heat shocks on farming activities to quantify their effect on loan repayment. While heat shocks have large effects on agricultural output, we find the effects on repayment capacity are very small, at worst. We find no statistical evidence of a one-year heat shock affecting delinquency rates and estimate that a two-year uniform 1◦C increase only increases delinquency rates by approximately 3% of its standard deviation. We explore the underlying mechanisms that explain this small result and rule out various other possible explanations, including aggregation and attenuation biases. These results suggest the important role that robust buffering mechanisms and lender forbearance play in minimizing the transmission of climate-related physical risk to the financial sector. |
| Keywords: | Agricultural Finance, Farm Management |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404344 |
| By: | Könneke, Jule |
| Abstract: | Under President Gustavo Petro, Colombia has positioned itself internationally as a leader in climate action and in pursuing a just transition away from fossil fuels. Among other things, Petro's climate and energy policy relied on supply-side measures to limit the exploitation of fossil fuels - a unique approach among those countries in the Global South that, like Colombia, export fossil fuels. At the same time, Petro has had only limited success in implementing this agenda within his own country. With the election victory of the right-wing opposition candidate, Abelardo de la Espriella, the future of this reform course is now being renegotiated. Whether the transformation in Colombia succeeds without jeopardising short-term economic stability, security of supply, and social cohesion is relevant for many countries that export fossil fuels and have only limited fiscal space. They are therefore closely watching whether, and under what conditions, Germany and the European Union (EU) provide support for Colombia's transformation. Failure would have political implications beyond Colombia. |
| Keywords: | Global South, EU, Germany, Gustavo Petro, export of fossil fuels, energy transition, TAFF, Santa Marta conference, UN climate process, COP28, COP30, presidential election, transformation partnerships |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:swpcom:342575 |
| By: | Zhang, Chunlan; Zhao, Jinsong |
| Abstract: | Does institutional design mitigate the biodiversity loss associated with urban land expansion? This study addresses this question by evaluating China's 2018 "Increment-Stock Linkage" (ISL) policy, which mandates that greenfield land quotas be contingent upon the verified redevelopment of existing brownfield land. By integrating monthly county-level bird observation data from the China Bird Report with comprehensive land transaction records, we employ a triple-difference (DDD) empirical strategy that exploits cross-sectional variation in counties' pre-reform reliance on new land development. Our findings reveal a significant reversal in land–biodiversity elasticity: following the reform, elasticity shifts from −0.027 in control counties to +0.009 in treatment counties. We trace this reversal to two complementary channels: at the extensive margin, reduced greenfield conversion preserves edge habitats essential for landscape connectivity; at the intensive margin, the shift toward brownfield redevelopment raises land use efficiency and compels compensatory urban greening within densified cores. These biodiversity gains are most pronounces among migratory and the ISL reform operates |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404498 |
| By: | Schöffel, Alexander |
| Abstract: | This dissertation examines the relationship between firms’ carbon emission intensity and financial characteristics of corporate bonds in secondary markets. In particular, the dissertation analyses the effect of carbon intensity on yield spread risk premia relative to risk-free bonds, as well as on various measures of bond liquidity. While theory suggests a positive link between carbon emissions and firm-level risk, implying higher capital costs and reduced trading activity, the empirical evidence in the existing literature remains inconclusive. A comprehensive review of the literature and recent academic debate identifies methodological inconsistency as a key driver of these contradictory findings. The first chapter synthesizes ongoing discourse around the use of carbon data in financial research and identifies six critical methodological choices that have the potential to substantially influence research outcomes. Weighing the trade-offs associated with these alternatives, the chapter proposes a set of decision-making recommendations designed to enhance methodological consistency in future empirical work. Applying these methodological recommendations, the second chapter finds, contrary to the “carbon risk hypothesis”, that bonds issued by high-emission firms exhibit lower yield spreads compared to those from lower-emission peers. This “carbon discount” is especially pronounced among A-rated bonds and strengthens over time, while the effect diminishes and becomes statistically insignificant for BBB-rated bonds. The third chapter analyzes the relationship between firm-level carbon intensity and bond-level liquidity metrics. No persistent illiquidity premium is observed for high-emission issuers, even in bond markets increasingly shaped by sustainably investing fixed income funds. Overall, the dissertation contributes to resolving empirical inconsistencies rooted in methodological divergence and demonstrates that, when aligned with best-practice methodological standards from the literature, there is no robust evidence of negative effects of high carbon intensity on corporate bond spreads or liquidity. |
| Date: | 2026–01–29 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:160830 |
| By: | Helena Cordt; Julien Daubanes; Yiding Ma; Julien Xavier Daubanes |
| Abstract: | In the spirit of green finance taxonomies, restricting fossil-fuel producers' access to funds is hoped to help address the climate problem. We develop a project-level model of oil production, calibrate it to the universe of U.S. and Canadian oil projects producible over 2000-2024, and simulate the effects of the cost of capital. Modest increases in this cost are counterproductive, increasing oil production through industry short-termism while reducing project value. Effective costs of capital are unrealistically large, at odds with projects' internal rates of return. At the industry level, a higher cost of capital generates equilibrium adjustments that boost oil profitability. |
| Keywords: | oil divestment, green finance, short-termism, unintended policy impact, internal rates of return |
| JEL: | G1 H20 Q31 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12865 |
| By: | Juergen Renn (Max Planck Institute of Geoanthropology, Jena, Germany) |
| Abstract: | Designs for international climate cooperation face a trade-off between efficiency and robustness to institutional erosion by defection, renegotiation, and political turnover. We formalize this trade-off in a stylized coalition-formation game with two market-based enrolment channels, a membership premium and an outsider drain, stabilized against bounded perturbations with robust control. The free-rider gap is exact within the game, expressed in measurable primitives, and separated from the architecture-specific channels. The drain is decomposed into a fiscal border channel, capped by trade law at the rent it mirrors, and a compensated terms-of-trade channel, making every channel strength measurable. With sufficiently strong channels the model is bistable: a remnant club and a near-universal coalition are separated by a critical mass. For a newly proposed carbon currency, whose emission rights are reissued each period, extinguished upon use, and enforced at the border, the minimal nucleus is thirty per cent of global emissions, ignition from an EU-China nucleus requires compensating one fifth to three fifths of the outsiders' terms-of-trade loss, the established coalition withstands two to four times the perturbation admissible at ignition, and the tipping survives heterogeneity to about three times the membership premium. Two robustness coordinates place each architecture in a map with three regimes, opening a comparative dynamics of climate clubs: the carbon currency is self-igniting, the border adjustment founding-dependent, the export rebate permanent-support-dependent. Architectures without a drain improve efficiency within a coalition but cannot drive its formation. Robustness governs whether cooperation forms and endures; efficiency decides how much an established coalition delivers. |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2608.12143 |
| By: | Lee Crawfurd (Center for Global Development) |
| Abstract: | How many children in low- and middle-income countries attend school near sources of pollution? We match the locations of 2.6 million schools across 17 countries to 11, 301 documented toxic sites and find that 9.7 percent of schools in our sample lie within 5 km of a site. Weighting by enrollment, 12.7 percent of students in the 7 countries with enrollment data attend a school within this distance. These remain lower bounds: the available data capture only a fraction of actual contaminated sites. Proximity is overwhelmingly an urban phenomenon—urban schools are 4 to 28 times more likely than rural schools to be near a site, depending on the country. Within countries, schools in the wealthiest neighborhood quintile are about 14 times more likely to be near a site than schools in the poorest (34.5 percent versus 2.4 percent), reflecting the spatial concentration of industry in wealthier urban areas of LMICs. Where data on school management are available, private schools are also more likely than public schools to be near sites in all eight such countries. |
| Keywords: | pollution, schools, environmental justice, lead, low- and middle-income countries |
| JEL: | Q53 I25 O15 R14 |
| Date: | 2026–06–13 |
| URL: | https://d.repec.org/n?u=RePEc:cgd:wpaper:749 |
| By: | Soichiro SUGITA; Makiko NAKAMURO |
| Abstract: | This paper estimates the effects of class-size reduction on the quality of the classroom environment, exploiting the discontinuous variation in class size generated by Japan's statutory 40-student cap. A 10-student reduction improves composite indices of teacher-student relationships and classroom climate by 0.03–0.04 standard deviations respectively; school-reported discipline and violence also improve. Effects are stable across the pre- and post-COVID periods, concentrated in elementary grades, and largest where the prior classroom environment was weak, consistent with Lazear's disruption model. Effects on test scores are essentially zero. The benefits of smaller classes operate on the classroom environment rather than on academic achievement. |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:eti:dpaper:26060 |
| By: | Hale, Galina |
| Abstract: | There is clear scientific evidence of the shift in the probability distribution of climate-related disasters in recent decades. Is this shift reflected in the behavior of forward-looking measures of economic activity such as real exchange rates? I evaluate the role of different belief formation assumptions on the ability of the model to predict the response of real exchange rates to climate-related disasters. I consider Bayesian and backward-looking belief updates as well as static beliefs with no update or a one-time update. To do so, I construct a version of the Farhi-Gabaix (2015) framework augmented with explicit belief formation. I use two approaches to model calibration and simulate the model for 47 countries for 1964-2019 using actual data for climate-related disasters. I find that in general differences in belief formation do not have much effect on the model fit because the productivity loss component dominates the predicted response. Specifically, I find that even in recent years there is no evidence of Bayesian beliefs being a better fit for the data. |
| JEL: | F21 F23 F64 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:cpr:ceprdp:19347 |
| By: | Littlechild, S.; Baldick, R. |
| Abstract: | The Texas Competitive Renewable Energy Zones (CREZ) process remains highly relevant to current transmission planning. Its significance lies not in providing a template to be copied mechanically, but in showing how a regulator can address a transmission "chicken and egg" problem that ordinary incremental planning is poorly equipped to solve. Senate Bill 20 of 2005 required the Public Utility Commission of Texas (PUCT) to designate renewable zones and develop transmission to deliver their output "in a manner that is most beneficial and cost-effective to the customers." In 2008 the Commission approved a transmission plan capable of supporting about 18, 500 MW of wind generation, and by early 2014 nearly 3, 600 miles of new transmission had been built. The process may be understood as a hybrid institutional mechanism combining legislative mandate, regulatory planning and backstop, and negotiated implementation in provider selection and siting. The CREZ experience also illustrates the limits of anticipatory transmission planning: it relied on only partial ex ante cost -benefit discipline, imposed local burdens that were not always fully compensated, and used a competitive designation model that Texas later curtailed. Current transmission policy could recover the logic of CREZ, but improve the instruments: by using more explicit benefit tests, transparent cost allocation, better treatment of local burdens, safeguards against incumbent control, and deliberate use of negotiated-settlement techniques under a regulatory backstop. |
| Keywords: | Transmission Planning, CREZ, ERCOT, Renewable Energy Zones, Negotiated Settlements, Cost Allocation, Anticipatory Investment |
| JEL: | L94 L51 Q48 D02 |
| Date: | 2026–07–27 |
| URL: | https://d.repec.org/n?u=RePEc:cam:camdae:2662 |
| By: | Isah, Abdulrasheed Abdulkarim; Rentschler, Jun; Middelanis, Robin; Avner, Paolo; Hallegatte, Stephane |
| Abstract: | Natural hazards can profoundly disrupt economies, yet their impact on employment remains underexplored. This study quantifies job losses due to floods, earthquakes, wind, storm surges, tsunamis, and heat across 132 countries, using a full-time job equivalent loss estimation approach. The results show that fast-onset natural shocks cause 9.4 million job equivalent losses annually on average, predominantly due to earthquakes and floods, with burdens concentrated in East Asia and the Pacific and Sub-Saharan Africa. Additionally, extreme heat was associated with 79.7 million job equivalent losses annually across 114 countries between 2015 and 2024, with the burdens concentrated in South Asia and Sub-Saharan Africa. Yet, average annual job losses can be significantly lower than losses from specific extreme events, for instance, with 1-in-100-year hazard events resulting in losses that exceed average annual job losses by a factor of over 10. Overall, low-income countries experience the highest job loss rate per capita. Within countries, the poorest population group bears a disproportionate share of job equivalent losses. Results highlight the urgent need for targeted adaptation and resilience measures that safeguard workers, jobs, and productivity to support economic development. |
| Date: | 2026–05–29 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11400 |
| By: | Santhosh, Harikrishnan; Mullen, Jeffrey |
| Abstract: | Water pricing is among the most widely advocated tools among economists for managing aquifer depletion, yet its effectiveness hinges on a single parameter: the own-price elasticity of irrigation water demand. If farmers are unresponsive to price signals (that is, if demand is inelastic), pricing policies will fail to achieve conservation goals while imposing substantial costs on agricultural producers. Producing accurate elasticity estimates is therefore a prerequisite for effective water governance in stressed aquifer systems. Past studies have found a broad spectrum of irrigation demand elasticities ranging from highly inelastic to elastic. This paper addresses a critical but underexplored source of estimation error: data quality. The majority of studies estimating irrigation demand rely on the USDA's Irrigation Water Management Survey (IWMS), which consists of cross-sectional surveys subject to omitted variable bias and measurement error. We compare elasticity estimates derived from this survey data against those from metered water use records drawn from Kansas's Water Information Management and Analysis System (WIMAS), which captures measured pumping data. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404399 |
| By: | Shrestha, Jebina; Chen, Le; Smith, Aaron; Trejo-Pech, Carlos |
| Abstract: | This study examines the impact of soil erosion on farm bankruptcy in the United States (US) Midwest. Using a novel county-level panel dataset that combines Chapter 12 bankruptcy filings from the U.S. Courts with soil erosion measures from the USDA Natural Resources Conservation Service National Resources Inventory for the period 1992 to 2017, we investigate whether higher soil erosion increases farm bankruptcy rates. We use linear panel fixed effects models and a number of robustness checks to achieve the study objective. We find that counties with higher soil erosion tend to have higher Chapter 12 bankruptcy filing rates. The results suggest that persistent soil degradation may weaken the income-generating capacity of farmland and reduce farms’ ability to meet debt obligations. These findings provide new evidence that the economic consequences of soil erosion extend beyond productivity and environmental losses to severe farm financial outcomes, with implications for soil conservation policy, agricultural credit markets, and farm financial stability. |
| Keywords: | Agricultural Finance, Farm Management |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404336 |
| By: | Konstantinos Chatziandreou; Sven Karbach |
| Abstract: | Pay-as-produced power purchase agreements (PPAs) expose buyers and sellers to the joint risk of power prices and renewable production. This paper develops a theoretical framework for hedging this exposure using a semi-static strategy: liquid futures hedge traded price risk dynamically, while a fixed portfolio of renewable-linked claims targets residual volume and covariance risk. The pricing and hedging decomposition is model-free, whereas the empirical implementation for German wind and solar generation uses a calibrated stochastic model. Conditional on a valuation measure, the fair strike is a production-weighted expected spot price. We show that it decomposes exactly into the baseload forward level, a deterministic production-profile correction, and a stochastic price-volume covariance correction, where the covariance term measures the pricing effect of renewable cannibalisation. The static hedge is selected through a finite-dimensional variance projection onto claims linked to renewable volume, delivery-period average prices, and price-volume covariance. We estimate a L\'evy-driven bivariate MCARMA state-space model with state-dependent price spikes using hourly German data for 2023-2024 and apply it to monthly PPAs over the January-December 2025 delivery horizon. The results distinguish deterministic profile risk from stochastic covariance risk and show how sparse static overlays reduce residual exposures that fixed-volume futures cannot hedge. The selected portfolios also indicate which claim types are most effective for hedging residual renewable shape risk. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.27814 |
| By: | Mohammed Ouargani (ENCG - École Nationale de Commerce et de Gestion d'Agadir - Université Ibn Zohr = Ibn Zohr University [Agadir]); Bouchra Radi (ENCG - École Nationale de Commerce et de Gestion d'Agadir - Université Ibn Zohr = Ibn Zohr University [Agadir]) |
| Abstract: | This study examines the impact of ownership structure on ESG performance among firms listed on the Casablanca Stock Exchange over the period 2019–2024. Using a balanced panel of 40 Moroccan listed companies and Refinitiv ESG scores, the research analyzes the effects of institutional ownership, family ownership, state ownership, and ownership concentration on firms' sustainability performance. The study employs panel data regression models, including pooled OLS, Random Effects, and Fixed Effects estimations. The findings reveal that institutional ownership positively influences ESG performance, while family ownership shows a negative relationship with ESG engagement. In contrast, state ownership and ownership concentration do not exhibit significant effects after controlling for firm-specific heterogeneity. The study contributes to the literature on corporate governance and sustainable finance by providing evidence from an emerging African market characterized by concentrated ownership structures and evolving ESG practices. Keywords: ESG performance; ownership structure; corporate governance; Morocco. |
| Keywords: | African Scientific Journal, Morocco, corporate governance, ownership structure |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05635076 |
| By: | Héloïse Berkowitz (LEST - Laboratoire d'Economie et de Sociologie du Travail - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique, AMU - Aix Marseille Université); José Augusto Lacerda Fernandes (UFPA - Federal University of Para - Universidade Federal do Pará - UFPA [Belém, Brazil]) |
| Abstract: | Les enjeux écologiques majeurs auxquels nous faisons face – dérèglement climatique, perte de biodiversité, érosion des sols, acidification des océans – résultent d'un paradigme néolibéral dans lequel les organisations dominantes (états, multinationales, etc.) sont conçues comme des systèmes d'exploitation et de destruction des vivants (Berkowitz, 2023a). Vivants, humains ou non humains, comme non vivants, constituent des ressources instrumentalisées pour la croissance et la performance financière. Dès lors, le néolibéralisme constitue un projet idéologique et politique s'accompagnant d'une privatisation des ressources publiques, une marchandisation des activités et des liens sociaux, une dérégulation globale et fait peser de graves risques sur les démocraties (Varman & Vijay, 2022a). Imaginer des alternatives de gestion et d'organisation recréant des solidarités (Eynaud & Carvalho de França Filho, 2023), y compris entre vivants humains et non-humains, et permettant de nouvelles formes démocratiques apparait dès lors comme essentiel pour résister à l'ordre social destructeur du néolibéralisme (Varman & Vijay, 2022a). S'inspirant des travaux de Foucault et de Lefebvre, Varman et Vijay (2022b), dans leur étude de Leftword, montrent que l'hétérotopie – des contre-sites où l'ordre social dominant est remis en question, constitue une dimension essentielle des espaces d'organisation alternative. |
| Keywords: | multiréférentialité, hétérotopie, démocratie, gouvernance, transition écologique, Méta-organisation, Méta-organisation transition écologique gouvernance démocratie hétérotopie multiréférentialité |
| Date: | 2026–03–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05688176 |
| By: | Kramer, Berber; Cecchi, Francesco; Levine, Madison |
| Abstract: | As climate variability intensifies, smallholder households—especially women within those households—face growing exposure to weather-related shocks, increasing their vulnerability to uncompensated losses and consumption shortfalls. Index insurance has emerged as a scalable risk management tool, yet basis risk, i.e., the gap between farm-level losses and index-triggered payouts, undermines trust, limits insurance demand, and constrains impacts on well-being especially among women. To understand the gendered impacts of reducing basis risk, we ask whether uncompensated shocks resulting from basis risk might affect women more than men, by analyzing gender differences in coping with shocks. Female farmers have lower education levels, less land, lower food consumption scores, and less agency in decisions over household coping responses than male farmers. Shocks—especially damage to standing crops and illnesses within the household—are associated with a greater reduction in food consumption scores among women than among men. These descriptive patterns suggest that basis risk has more severe implications for women than men, offering an explanation for why lowering basis risk improves insurance demand and perceptions particularly among women farmers. |
| Keywords: | Labor and Human Capital |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404785 |
| By: | Hiroyuki Yamada (Keio University) |
| Abstract: | Thermal inversions have become the standard instrument for estimating the causal effect of air pollution, underpinning at least 81 published studies of health, labor, firm, and crime outcomes. Seventy-seven percent of those studies concern China, and none concerns Sub-Saharan Africa. This paper examines whether the design can be transported to the regions where pollution research is expanding fastest. We link 120, 820 children in 26 Sub-Saharan African countries and 128, 919 in India, Bangladesh, and Nepal to 0.01° satellite PM2.5 and to ERA5 temperature profiles measured at local dawn, and we estimate a single two-stage least squares specification six times, changing only the definition of the inversion instrument. Five of the six definitions come from published practice, and the sixth is an elevation-robust variant of our own. In the African sample, we find that all six first stages are strong and correctly signed (F=57-356). However, the second stages split by instrument family. Pressure-level definitions give positive but insignificant effects on child respiratory illness, whereas surface-layer definitions, the modal implementation in the literature, give significant negative ones. Over-identification tests reject the cross-family pairings of the count and continuous instruments (p |
| Keywords: | thermal inversion, instrumental variables, air pollution, child health, external validity, Sub-Saharan Africa, South Asia |
| JEL: | Q53 I15 O13 C26 |
| Date: | 2026–08–18 |
| URL: | https://d.repec.org/n?u=RePEc:keo:dpaper:dp2026-018 |
| By: | Kim, Hannah |
| Abstract: | Perennial agriculture poses a distinct adaptation problem because planting decisions are long-lived, costly to reverse, and often adjusted only at replanting. This paper studies whether Ethiopian smallholders shift land away from coffee when weather exposure worsens coffee’s risk-return profile relative to khat, an alternative perennial crop. I develop a portfolio-choice framework in which farmers allocate replanting land between coffee and khat based on expected profitability and profit risk. Using Ethiopia LSMS-ISA household panel data matched to ERA5 weather data, I first estimate reduced-form effects of weather exposure during the February–April budding and growing window on subsequent coffee allocation. I then estimate crop-specific weather-profit functions and use them to construct weather-induced measures of expected profitability and predicted profit risk. Extreme heat reduces the coffee share of coffee-khat land, with the clearest effects among households that cultivated coffee in the previous round. Coffee profits are more sensitive to extreme heat than khat profits, and higher weather-induced coffee profit risk is associated with lower next-round coffee allocation. The current estimates provide weaker evidence that expected profitability independently predicts adjustment. These findings suggest that, in perennial systems, weather risk affects adaptation not only through current profits but also through the crop choices farmers make when replanting becomes possible. |
| Keywords: | International Development |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404663 |
| By: | Yves Crozet (LAET - Laboratoire Aménagement Économie Transports - UL2 - Université Lumière - Lyon 2 - ENTPE - École Nationale des Travaux Publics de l'État - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Les effets externes constituent pour les économistes un échec du marché. Pour y remédier ils s'inspirent paradoxalement du modèle d'intelligibilité qu'est le marché pour proposer différentes formes d'internalisation des effets externes et plus particulièrement des coûts externes. Le secteur des transports, sur lequel est centrée cette note, est particulièrement concerné par la question des coûts externes à travers les problèmes liés aux accidents, au bruit, à la pollution et aux émissions de gaz à effet de serre. |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05604088 |
| By: | Suwan (Cheng) Long; Kamiar Mohaddes; Imtiaz Ul Haq |
| Abstract: | Sustainability-linked bonds (SLBs) embed sustainability commitments directly into debt contracts, but the credibility of these commitments depends on how penalties, reporting obligations, and verification requirements are written and enforced. We construct bond-level measures of contractual enforceability and target precision from SLB frameworks, prospectuses, and performance-target documentation for 915 SLBs, and link them to secondary-market Z-spreads and to matched conventional bonds from the same issuer or corporate parent. Three findings emerge. First, the basic contractual architecture has become nearly universal: 92% of SLBs contain penalty-activation, reporting, and external-assurance provisions. Second, the full-document enforceability score is negatively associated with absolute SLB spreads after controlling for month and currency, although the association is sensitive to issuer controls. The contractual enforceability index is imprecisely related to absolute spreads, while SLB spreads net of matched same-issuer or same-parent conventional-bond spreads are 3.7 to 10.0 basis points lower per standard deviation of this index. These matched estimates are marginally precise and weaken under stricter matching. Third, spread reactions around individual disclosure and non-disclosure events are limited and heterogeneous. The evidence is consistent with credit markets valuing contractual credibility, but it does not establish a causal effect on financing costs. |
| Keywords: | sustainability-linked bonds, credit spreads, contract design, enforcement, credibility, sustainable finance |
| JEL: | G12 G32 G38 Q51 Q56 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:een:camaaa:2026-70 |
| By: | El Karkour Elk Mohammed (Recherche en Instrumentation et Gestion des Organisations - Université Mohammed I- Oujda,) |
| Abstract: | This article examines Morocco's Social and Solidarity Economy (SSE) through Edgar Morin's complex thinking. Using the principles of dialogics, recursivity, and hologrammatics, it shows how cooperatives, associations, and mutuals balance market and solidarity, create learning loops, and mirror national challenges gender inclusion, ecological transition, and social protection. Findings indicate tangible achievements yet incomplete consolidation: financial dependence, fragmented governance, and weak impact assessment. We propose priority directions a clear legal framework, territorial anchoring, ecological integration, and multidimensional evaluation tools to strengthen territorial resilience and position SSE as a lever for inclusive and sustainable development. |
| Abstract: | Cet article analyse l'économie sociale et solidaire (ESS) au Maroc à l'aune de la pensée complexe d'Edgar Morin. En mobilisant les principes de dialogique, récursivité et hologrammatique, il montre comment coopératives, associations et mutuelles articulent marché et solidarité, génèrent des boucles d'apprentissage et reflètent des enjeux nationaux (inclusion, transition écologique, protection sociale). Les résultats soulignent des acquis réels mais une consolidation inachevée : dépendance financière, gouvernance fragmentée et évaluation lacunaire. Des orientations prioritaires sont proposées : cadre légal, ancrage territorial, intégration écologique et dispositifs d'évaluation multidimensionnels, afin de renforcer la résilience territoriale. |
| Keywords: | pensée complexe, résilience territoriale, coopératives féminines, gouvernance territoriale Social and solidarity economy, complex thinking, territorial resilience, women's cooperatives, territorial governance, intégration écologique et dispositifs d Économie sociale et solidaire, intégration écologique et dispositifs d Économie sociale et solidaire pensée complexe résilience territoriale coopératives féminines gouvernance territoriale Social and solidarity economy complex thinking territorial resilience women's cooperatives territorial governance, ancrage territorial, gouvernance fragmentée et évaluation lacunaire. Des orientations prioritaires sont proposées : cadre légal |
| Date: | 2025–11–14 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05647086 |
| By: | Andrea Bastianin (University of Milan, Italy and Fondazione Eni Enrico Mattei (FEEM)); Elisabetta Mirto (Study Center Gerzensee); Yan Qin (ClearBlue Markets); Luca Rossini (University of Milan, Italy and Fondazione Eni Enrico Mattei (FEEM)) |
| Abstract: | We tackle the issue of producing point, sign, and density forecasts for the monthly real price of carbon within the European carbon market, EU ETS. We show that a Bayesian Vector Autoregressive (BVAR) model, augmented with factors based on macroeconomic and financial variables, yields accuracy gains over a set of benchmark forecasts in both point and density forecasts. We also provide a qualitative comparison of model-based forecasts with survey expectations and forecasts released by data providers. Moreover, we consider verified emissions and demonstrate that adding stochastic volatility can further improve the forecasting performance of a single-factor BVAR model. Lastly, we rely on forecasts to build market monitoring tools that track demand and price pressure in the EU ETS. |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:szg:worpap:2603 |
| By: | Liao, Yanjun (Penny) (Resources for the Future); Druckenmiller, Hannah (Resources for the Future); Walls, Margaret A. (Resources for the Future) |
| Abstract: | This paper traces weather extremes through the Federal Crop Insurance Program (FCIP), the single largest form of federal support for US agricultural production, and into rural labor markets, estimating first how weather shocks drive FCIP enrollment and then how enrollment shapes the employment consequences of those same shocks. We combine policy-level FCIP enrollment records from 1991 to 2019 with establishment-level data on the near-universe of US businesses. We have two central findings. First, farmers respond to adverse weather and yield shocks by increasing insurance participation: a 10 percent yield decline increases insured acreage by approximately 4.9 percent for corn and 3.4 percent for soybeans. Projecting this response forward under RCP 4.5, climate-driven enrollment growth alone is estimated to raise program costs by 4–9 percent for corn and soybeans by midcentury, a magnitude comparable to fiscal analyses that attribute cost increases primarily to higher liabilities. Second, FCIP enrollment substantially mitigates the adverse effects of extreme heat on rural labor markets and generates positive spillovers to nontradable sectors, such as retail, hospitality, and health care. Our attribution exercise suggests that, during 2015–2019, the FCIP preserves about 95, 000 rural jobs annually at an average program cost of roughly $53, 000 per job. These findings highlight the program’s role in supporting rural economic resilience and should be considered alongside fiscal sustainability concerns in ongoing policy discussions. |
| Date: | 2026–08–10 |
| URL: | https://d.repec.org/n?u=RePEc:rff:dpaper:dp-26-13 |
| By: | Brown, Zachary S.; Chen, Le; Cho, Chanheung; Rejesus, Roderick |
| Abstract: | Soil health investments such as cover crop adoption are widely promoted to improve long-run productivity and reduce fertilizer dependence, yet adoption remains limited due to delayed and uncertain returns.This paper develops a structural dynamic model of soil capital accumulation, nitrogen fertilizer use, and cover crop technology choice under biophysical and market uncertainty. Using data from a 35-year cotton field experiment, we estimate a yield function in which output depends on fertilizer, accumulated soil capital, and their interaction. We structurally recover soil capital and embed the estimates in a stochastic dynamic programming model with regime-switching price dynamics. The results reveal strong dynamic substitution: as soil capital increases, the marginal productivity of fertilizer declines sharply. Optimal policies exhibit threshold-type adoption patterns, with cover crops becoming profitable only beyond critic also il capital levels. Policy simulations show that targeted incentives can accelerate transitions toward soil-health-based production while improving both profitability and environmental outcomes. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404397 |
| By: | Rischan Mafrur; Fadli Ikhsan Pratama; Khadijah |
| Abstract: | Indonesia has established a regulated carbon market supported by national registry infrastructure and the IDXCarbon exchange. Carbon units can be issued, recorded, traded, and retired within this framework. IDXCarbon currently uses a private blockchain for its trading infrastructure. This creates an opportunity to examine how Indonesian carbon credits could also be represented and traded through public blockchain infrastructure. This study proposes an architecture for tokenizing Indonesian carbon credits as real-world assets (RWAs), with particular focus on Sertifikat Pengurangan Emisi Gas Rumah Kaca (SPE-GRK). The proposed architecture retains the Sistem Registri Unit Karbon (SRUK) as the authoritative source of carbon-unit status. It introduces a public-blockchain layer for token representation and programmable transactions. The architecture is designed to support lifecycle management, token-based asset representation, public observability of token activity, interoperability, wallet-based transactions, and programmable settlement. The architecture consists of four layers: the authoritative carbon layer, the registry interoperability and tokenization layer, the public-blockchain RWA layer, and the market and application layer. Access to the tokenized carbon assets remains regulated. Token issuance and transfers are linked to participant eligibility and registry status. Retirement also remains dependent on the authoritative carbon registry. The proposed architecture provides a framework for introducing public-blockchain RWA infrastructure into Indonesia's existing carbon market while maintaining SRUK authority and existing market-integrity controls. |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2608.15597 |
| By: | Jingyi Xu; Minghui Cheng; Anchen Sun |
| Abstract: | Buildings account for roughly 34% of global final energy use and 37% of energy- and process-related CO$_2$ emissions. Stranding regulation now being enacted (New York City Local Law 97, the EU Energy Performance of Buildings Directive recast) presupposes that a building portfolio's carbon intensity can be measured per square metre and compared against a science-based pathway. Whether corporate disclosure is actually fit for that comparison has not, to our knowledge, been measured at scale. We introduce BeDA (the Built-environment Decarbonisation-disclosure Auditor), a multimodal large-language-model instrument, and apply it to a global firm panel (2, 246 firms, 2003-2023). Its standards-compliance score is reliable across models and model families and convergent with three independent external criteria. Most disclosure is unfit: only about one built-environment firm-report in five discloses operational carbon intensity per $m^2$ (21.5% in a region-stratified sample of 200 firm-reports, Wilson 95% CI [16.4%, 27.7%], inter-extractor $\kappa$=0.95; 45.5% across 519 real-estate firm-reports, $\kappa$=0.97). The rate is roughly twice as high in Europe as in the United States (64-74% versus 37% for listed real estate). Among the 215 real-estate firm-reports for which an intensity can be constructed, 39% already exceed the Carbon Risk Real Estate Monitor (CRREM) 1.5 {\deg}C pathway's intensity limit. Credibility does not predict stranding readiness once portfolio size is controlled; this is a screening tool, not a forecast. The main obstacle to enforceable building-stranding regulation is therefore a measurable, jurisdiction-specific reporting gap, one that a targeted disclosure mandate can close and that BeDA can monitor. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.22006 |
| By: | Elliot Quiriconi (DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique, INERIS - Institut National de l'Environnement Industriel et des Risques); Anouck Adrot (Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres); Chabane Mazri (INERIS - Institut National de l'Environnement Industriel et des Risques) |
| Abstract: | NaTech events or risks, defined as technological accidents triggered by natural hazards, have become increasingly important in contemporary risk management. The growing frequency of disasters and intensification of natural hazards generate an urgent need for comprehensive understanding of this complex type of risk. The current literature on NaTech risks is fragmented across multiple fields and disciplines due to the transdisciplinary nature of these risks, as evidenced by the proliferation of existing literature reviews. This first version paper presents an exploratory and original systematic review of the literature that identifies and categorizes the research gaps documented in existing NaTech reviews. Using a two-dimension coding method, we identify, categorize, map and then analyze the research gaps in these reviews. The first dimension draws on the research gap typology developed by Müller-Bloch and Kranz (2014) (deductive coding). The second dimension (inductive coding) proceeds by extracting themes from the gaps. Research progress documented in these reviews is also coded using the same epistemic categories, enabling a parallel analysis of both gaps and advances. The intersection of these coding dimensions produces a bidimensional matrix (epistemic nature of the gap; thematic content). This enables us to study the evolution of these gaps through parallel documentation of both identified gaps and research progress, determining which gaps have been addressed, which persist, and which are emerging. Based on these results, we identify unidentified gaps: as a lack of ontological and epistemological questioning, a need to shift from site-centric to systemic conceptualizations, and a gap about warning and alert processes in multi-risk contexts. These gaps, complementing those already identified, may form a new research agenda for future cross-disciplinary research. |
| Keywords: | Natural hazards, Industrial hazards, Review, Research gap, NaTech |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05711012 |
| By: | Long, Suwan (Cheng) (IESEG School of Management, Univ. Lille); Mohaddes, Kamiar (University of Cambridge); Ul Haq, Imtiaz (International Finance Corporation (IFC), The World Bank Group, Washington, D.C.) |
| Abstract: | Sustainability-linked bonds (SLBs) embed sustainability commitments directly into debt contracts, but the credibility of these commitments depends on how penalties, reporting obligations, and verification requirements are written and enforced. We construct bond-level measures of contractual enforceability and target precision from SLB frameworks, prospectuses, and performance-target documentation for 915 SLBs, and link them to secondary-market Z-spreads and to matched conventional bonds from the same issuer or corporate parent. Three findings emerge. First, the basic contractual architecture has become nearly universal: 92% of SLBs contain penalty-activation, reporting, and external-assurance provisions. Second, the full document enforceability score is negatively associated with absolute SLB spreads after controlling for month and currency, although the association is sensitive to issuer controls. The contractual enforceability index is imprecisely related to absolute spreads, while SLB spreads net of matched same-issuer or same-parent conventional-bond spreads are 3.7 to 10.0 basis points lower per standard deviation of this index. These matched estimates are marginally precise and weaken under stricter matching. Third, spread reactions around individual disclosure and non-disclosure events are limited and heterogeneous. The evidence is consistent with credit markets valuing contractual credibility, but it does not establish a causal effect on financing costs. |
| Keywords: | Sustainability-linked bonds, credit spreads, contract design, enforcement, credibility, sustainable finance |
| JEL: | G12 G32 G38 Q51 Q56 |
| Date: | 2026–08 |
| URL: | https://d.repec.org/n?u=RePEc:amz:wpaper:2026-20 |
| By: | Dongwei Zhao; Stefanos Delikaraogloub; Vladimir Dvorkin Alberto J. Lamadrid L.; Audun Botterud |
| Abstract: | Coordination of day-ahead and real-time electricity markets is imperative for cost-effective electricity supply and also to provide efficient incentives for the energy transition. Although stochastic market designs feature the least-cost coordination, they are incompatible with current deterministic markets. This paper proposes a new approach for compatible coordination in two-settlement markets based on benchmark bidding curves for variable renewable energy. These curves are optimized based on a bilevel optimization problem, anticipating per-scenario responses of deterministic market-clearing problems and ultimately minimizing the expected cost across day-ahead and real-time markets. Although the general bilevel model is challenging to solve, we theoretically prove that a single-segment bidding curve with a zero bidding price is sufficient to achieve system optimality if the marginal cost of variable renewable energy is zero, thus addressing the computational challenge. In practice, variable renewable energy producers can be allowed to bid multi-segment curves with non-zero prices. We test the bilevel framework for both single- and multiple-segment bidding curves under the assumption of fixed bidding prices. We leverage duality theory and McCormick envelopes to derive the linear programming approximation of the bilevel problem, which scales to practical systems such as a 1576-bus NYISO system. We benchmark the proposed coordination and find absolute dominance over the baseline solution, which assumes that renewables agnostically bid their expected forecasts. We also demonstrate that our proposed scheme provides a good approximation of the least-cost, yet unattainable in practice, stochastic market outcome. |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2501.18732 |
| By: | Fu, Liang; Li, Gucheng |
| Abstract: | Growing attention has been paid to how agricultural technology adoption affects crop production. However, little is known about the effects of smart agricultural technology on agricultural production performance. This study uses survey data from 1, 146 rice farmers to examine the effects of smart agricultural technology (SAT) adoption on rice yield, technical efficiency, net returns and production costs. To reduce selection bias caused by farmers’ selfselection into SAT adoption, this study applies a doubly robust inverse probability weighted regression adjustment estimator. The results show that SAT adoption significantly increases rice yield, technical efficiency and net returns by 10.63%, 10.26% and 27.69%, respectively. It also reduces production costs by 3.83%. Further analysis shows that SAT adoption significantly reduces fertilizer, pesticide, labor and other inputs. These results are broadly consistent with estimates from propensity score matching and endogenous switching regression models. The findings suggest that promoting SAT adoption among smallholder rice farmers can help increase yield and net returns, improve efficiency, reduce input use and support agricultural green transformation. |
| Keywords: | Productivity Analysis, Research and Development/Tech Change/Emerging Technologies |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404714 |
| By: | Nakelse, Tebila; Dennis, Elliott; Perrin, Richard; Fulginiti, Lilyan |
| Abstract: | This paper develops a multilateral sustainability index designed to compare heterogeneous production units across multiple sustainability dimensions. The index is grounded in ratio-scale measurement theory, frontier benchmarking, and multilateral index-number methods. We distinguish carefully between production-theoretic distance functions and normalized sustainability measures, and show how the latter can be aggregated consistently using geometric means. We clarify that two natural constructions of the index—one based on input- and contextadjusted ratios, and one based on direct comparison at a common reference technology— answer different questions and coincide only when inputs and contexts are homogeneous across units. The resulting index is scale-invariant, transitive, and interpretable as a measure of relative sustainability performance. We extend the static framework to strong sustainability aggregators imposing minimum thresholds on critical dimensions and to dynamic settings tracking sustainability trajectories over time. Numerical examples illustrate the axiomatic properties and aggregation mechanics of the approach; a full empirical implementation with estimated frontiers is left to future work. |
| Keywords: | Production Economics |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404706 |
| By: | Yeh, D. Adeline; Fan, Xiaoli; Walsh, Elizabeth |
| Abstract: | Honeybee pollination services are essential to U.S. specialty crop production, yet maintaining colony health has become increasingly challenging due to Varroa mite infestations and rising miticide resistance. We develop a long-term bioeconomic model that characterizes a commercial beekeeper’s optimal management strategy while endogenizing the evolution of miticide resistance. Preliminary results indicate that miticide resistance reduces a beekeeper’s lifetime economic value by roughly 19%, and it generates additional social welfare losses that could be mitigated through coordinated policy intervention. This framework advances the economics of pollination markets and pest management by quantifying the private and social costs of resistance. The findings inform ongoing discussions about optimal beekeeper management, the welfare implications of resistance dynamics, and the potential economic benefits of adopting Varroa-resistant honeybee stocks. |
| Keywords: | Resource/Energy Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404745 |
| By: | Lars Meyer-Waarden (TSM - Toulouse School of Management Research - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - CNRS - Centre National de la Recherche Scientifique - TSM - Toulouse School of Management - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse); Julien Cloarec (UJML - Université Jean Moulin - Lyon 3 - Université de Lyon); Manon Ferreira (TSM - Toulouse School of Management Research - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - CNRS - Centre National de la Recherche Scientifique - TSM - Toulouse School of Management - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse) |
| Abstract: | The rise of AI-driven technologies, particularly generative AI (GenAI) like ChatGPT, is transforming customer service in hospitality and tourism sectors. These systems enhance user experiences by offering real-time, personalized support and 24/7 assistance. Yet, as sustainability becomes a key factor in travel decisions, consumers increasingly face information overload due to the abundance of eco-friendly options. This study examines how GenAI can alleviate this cognitive strain in sustainability-focused tourism contexts. Across two experiments (i.e., one on trip planning and another on on-site shopping), the findings show that more advanced GenAI tools significantly reduce information overload, improving decision-making and thus enhancing user perceptions of trust which in turn trust increases both well-being and behavioral intentions to use GenAI tools. On the other hand, the reduction of perceived decision risk increases behavioral intentions to use GenAI tools. In particular, by simplifying access to and comparison of eco-certified travel and shopping options, GenAI encourages more environmentally responsible consumer behavior. |
| Keywords: | Generative AI, Sustainable tourism, Information overload, Well-being, Trust Risk |
| Date: | 2026–12 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05703102 |
| By: | Njiraini, Georgina; Chelang'a, Philemon; Yattani, Adho; Popoola, Olufemi; Kirui, Oliver K. |
| Abstract: | Nigeria has the largest livestock population in West Africa and the fourth-largest cattle herd in Africa, yet the sector remains, in the words of long-standing diagnoses, a “sleeping giant” (Jega 2025). The livestock sector contributes approximately USD 32 billion, or 5 percent of national GDP, and around 17 percent of agricultural GDP. The livelihoods of 30 million people are directly supported by livestock, including those of over 15 million pastoralists. Roughly 40 percent of the protein consumed by Nigerians is sourced from animals. Nigeria has the largest livestock population in West Africa and the fourth-largest cattle herd in Africa, yet the sector remains, in the words of long-standing diagnoses, a “sleeping giant” (Jega 2025). The livestock sector contributes approximately USD 32 billion, or 5 percent of national GDP, and around 17 percent of agricultural GDP. The livelihoods of 30 million people are directly supported by livestock, including those of over 15 million pastoralists. Roughly 40 percent of the protein consumed by Nigerians is sourced from animals. The binding constraints to accelerated growth in Nigeria’s livestock sector are feed systems failure, an endemic and underreported animal disease burden, structural herder–farmer conflict, low genetic potential, the near-absence of processing and cold chain infrastructure, and intensifying climate risk. These interact as reinforcing cycles rather than isolated problems. In this paper that has been prepared to inform the development of a strategic action plan for Nigeria’s livestock sector, we examine the prospects for removing these barriers in order to put the sector on a pathway of sustained growth. Fortunately, the policy architecture for livestock sector development in Nigeria is now the strongest in the sector’s history. The Federal Ministry of Livestock Development, created in July 2024, anchors the Nigeria Livestock Growth Acceleration Strategy for 2025 to 2035, the first-ever Nigeria Livestock Master Plan, and the Livestock Productivity and Resilience Support investment program. Major financing is being mobilized, including a USD 2.5 billion commitment to invest in livestock processing from JBS S.A., a Brazilian meat processing company, the creation of the Africa Pastoral Markets Development platform with a USD 3 billion private-investment target, and the Special Agro-Industrial Processing Zones project. Early progress under these initiatives is visible—by mid-2026, the Ministry had vaccinated 6.2 million livestock in a nationwide anthrax campaign, profiled over 600, 000 livestock farmers using electronic tools, validated a National Dairy Policy Implementation Framework, and approved a veterinary reform roadmap to run through 2036. The principal conclusion we draw from this study is that Nigeria’s livestock sector development challenges are primarily linked to ineffectual implementation rather than poor policy design. The Nigeria Livestock Growth Acceleration Strategy should therefore prioritize implementation architecture—binding federal–state compacts on livestock development actions, foundational data systems that include a completed baseline on Nigeria’s livestock resources and a National Livestock Identification and Traceability System, feed systems development, animal health recapitalization, and putting in place the mechanisms that will convert committed private capital into operational investments in Nigeria’s livestock sector. |
| Keywords: | livestock; economic sectors; agro-industrial sector; sustainability; food systems; policies; Nigeria; Africa; Sub-Saharan Africa; Western Africa |
| Date: | 2026–07–28 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:nsspwp:184054 |
| By: | Emmanuelle Boch (VALLOREM - Val de Loire Recherche en Management - UO - Université d'Orléans - UT - Université de Tours - NEOLAiA - NEOLAiA European University = Université Européenne NEOLAÏA, IAE Tours Val de Loire - Institut d'Administration des Entreprises (IAE) - Tours Val de Loire, UT - Université de Tours - NEOLAiA - NEOLAiA European University = Université Européenne NEOLAÏA); Julie Loiseau (VALLOREM - Val de Loire Recherche en Management - UO - Université d'Orléans - UT - Université de Tours - NEOLAiA - NEOLAiA European University = Université Européenne NEOLAÏA); Laure Sugier (VALLOREM - Val de Loire Recherche en Management - UO - Université d'Orléans - UT - Université de Tours - NEOLAiA - NEOLAiA European University = Université Européenne NEOLAÏA, IUT Indre, Université d'Orléans) |
| Abstract: | Given the saturation of the waste textile recycling sector and the critical importance of the quality of textile donations—which determines the viability of circular economy actors—understanding donor practices is essential. Existing literature has not specifically focused on this issue of the (bad) quality of textile donations. This exploratory research addresses this issue and provides insight through an ethnographic approach conducted within two collecting organisations, adopting the donors' perspective. Analysis of the empirical material reveals confusion between donation and waste disposal, driven both by how collecting organisations are perceived and by characteristics specific to the donated goods. Its theoretical contribution lies in the conceptualization of "abandonment" as a hybrid act between giving and discarding, thereby investigating the porous nature of some post-use behaviors. The study also provides operational recommendations mainly aimed at stakeholders working in the reuse sector. |
| Abstract: | Compte-tenu de la saturation de la filière de traitement des textiles usagés et de l'importance de la qualité des dons de textiles qui conditionne la survie des acteurs de l'économie circulaire, la compréhension des pratiques des donateurs est essentielle. La littérature existante ne s'est pas concentrée précisément sur cette question de la (mauvaise) qualité des dons textiles. Cette recherche exploratoire se saisit de cette problématique et y apporte des éclairages grâce à une approche ethnographique réalisée au sein de deux organismes de collecte, en adoptant le point de vue des donateurs. L'analyse du matériau empirique montre une confusion entre le don et la mise au rebut, alimentée à la fois par la manière dont sont perçus les organismes de collecte et par des caractéristiques propres aux biens cédés. Son apport théorique se situe dans la conceptualisation de l'aban-don, comme geste hybride entre donner et jeter, investiguant ainsi la porosité de certains comportements post-usages. Le travail fournit par ailleurs des recommandations opérationnelles principalement à destination des acteurs de la filière de réemploi. |
| Keywords: | collection organisations, Donation, Textiles, Confusion, Waste, organismes de collecte, textiles, Déchets, Don |
| Date: | 2026–11–19 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05703135 |
| By: | Daniela Kletzan-Slamanig (WIFO); Angela Köppl; Stefan Schleicher (WIFO) |
| Abstract: | Decarbonising the building sector is critical to achieving climate neutrality in Europe, yet progress remains constrained by low renovation rates, continued reliance on fossil-based heating, fragmented governance, and persistent social and financial barriers. This paper examines which policy instruments and governance approaches are considered effective for building decarbonisation in the European Union and how these are perceived by stakeholders in Austria. It combines a structured literature review of recent research on EU and Austrian building decarbonisation with qualitative evidence from semi-structured interviews and a focus group involving stakeholders from public administration, housing, construction, civil society, and academia. The findings show that building decarbonisation depends on coherent policy mixes rather than isolated interventions. Effective approaches require the alignment of regulatory standards, financial support, advisory structures, infrastructure planning, and social protection mechanisms in order to accelerate deep renovation and heating system transformation. Across the literature and stakeholder evidence, the main barriers include high upfront costs, split incentives in rental housing, legal constraints in tenancy and condominium law, administrative fragmentation, and regulatory instability. In Austria, these barriers are compounded by a federal governance structure that generates variation across provinces and weakens policy coherence. The paper argues that building decarbonisation in Austria is primarily a governance and implementation challenge. Accelerating the transition therefore requires a stronger focus on the existing building stock, a reform of housing-related legal frameworks, improved coordination across governance levels, more predictable policy signals, strengthened implementation sup-port, and explicit attention to affordability and social justice. |
| Keywords: | Building decarbonisation, Heat transition, Policy instruments, Multi-level governance, Housing policy, Austria |
| Date: | 2026–08–13 |
| URL: | https://d.repec.org/n?u=RePEc:wfo:wpaper:y:2026:i:733 |
| By: | Lukas Franken; Iegor Riepin; Tom Brown |
| Abstract: | Recent price shocks have prompted calls to curb Europe's dependence on fossil gas imports, but the cost of this goal, and the consumer protection it affords, remain uncertain. Here we address this gap by imposing constraints on fossil gas supply in a European energy system model that co-optimises abatement across all gas uses at high spatio-temporal resolution. Cutting import reliance proves economically compelling: through savings in power generation and low-temperature heat in industry and buildings, Europe can halve its natural gas consumption for 16bnEUR/a, aligning demand with the continent's production capacity of 200 bcm. This extra system cost is comparable to what consumers spend today on a 2 EUR/MWh rise in gas import prices. However, this sovereignty alone does not shield consumers from global gas price volatility: we find that, even at a small share of the mix, gas remains dominant in shaping the marginal electricity price, leaving consumers exposed without additional policy measures. |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2607.21048 |
| By: | Darwish, Maram; Bahurmiz, Osan; Kurdi, Sikandra; Ecker, Olivier |
| Abstract: | A field-based choice study of 129 artisanal fishers in two coastal locations in Hadramawt, Yemen, supports the following key findings: Ice use for chilling fish is very low, despite willingness to adopt its use. Only 2 percent of fishers reported always using ice, yet 53 percent of fishers indicated willingness to adopt ice use and 36 percent were willing to forgo a cash payment in exchange for a bag of ice. This gap is consistent with low adoption being driven primarily by economic constraints rather than lack of awareness. Fishers’ valuation of ice is well below its market prices. The average valuation is approximately 2, 200 YER per bag of ice, less than half the prevailing market price of 5, 0006, 000 YER. Only about 3 percent of fishers would choose to purchase ice at current prices. Willingness to adopt ice is highly price-sensitive. The share of fishers willing to adopt ice rises sharply as prices decline. A reduction to around 2, 500 YER per bag—approximately half the current market price—could increase adoption to an estimated 40–50 percent of fishers. Expected gains from ice use vary by species. Price premiums are modest for the most commonly targeted fish species, limiting the economic incentive for most fishers to use ice. Access to iceboxes is associated with higher willingness to adopt ice use. Fishers who own an icebox are about 20 percentage points more likely to indicate willingness to adopt ice use and are willing to forgo approximately 1, 390 YER more to obtain ice. This highlights the importance of complementary assets, such as iceboxes, in shaping adoption decisions. |
| Keywords: | fisheries; valuation; cold storage; prices; ice; Yemen; Middle East |
| Date: | 2026–06–04 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:menapn:183197 |
| By: | Li, Youmin; Court, Christa; Qiao, Xiaohui |
| Abstract: | Drought threatens the stability of the United States’ for age system, yet the magnitude and spatial heterogeneity of its impacts on alfalfa remain poorly quantified. We construct a state-year panel for 2005–2025 that links geospatially matched SPEI-03 measures over alfalfa land with state-level data on yield, irrigation, and export value. Spatial diagnostics show weak joint spatial structure between drought and export value, and both variables are individually spatially correlated. Combining with panel fixed-effects models and generalized additive models, we find that drought significantly reduce alfalfa yield, with the strongest vulnerabilities concentrated in irrigation-dependent western states. By contrast, drought variation has a weaker reduced-form association with export value once persistent geography, prices, and state heterogeneity are taken into account. These findings suggest that drought affects alfalfa trade primarily through production capacity, while export performance is partially buffered by logistics, market access, and water-management institutions. The results underscore the need for region-specific adaptation strategies, including irrigation-efficiency and acreage-adjustment policies in the West and feed-risk management tools in the Midwest. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404512 |
| By: | Li, Xiaolei; Hu, Wuyang; Yu, Chenghui; Zhao, Minjuan |
| Abstract: | We propose a new bundled choice model to analyze premature food discarding and food waste arising from the misinterpretation of expiration date labels. Unlike conventional discard behavior models, our model allows consumers to discard either a single product or a bundle of products within one decision occasion. Using online survey data from Chinese consumers, we find substantial misinterpretation of the current food date labeling system. Such misinterpretation induces premature discarding behavior and consequently generates food waste. Modifying the wording of food date labels can substantially mitigate this problem. Among the alternative labels examined, replacing the current “Quality assured” label with “Not use if after” produces the strongest reduction in premature discarding and food waste. The “Best if used by” and “Use by” labels also improve outcomes to varying degrees. To evaluate food waste under bundled choice model, results indicate that consumers exhibit preferences for bundled discard behavior. Consequently, the conventional single choice model specification underestimates both the level of food waste induced by label misinterpretation and the effectiveness of alternative date labels in mitigating food waste. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404378 |
| By: | Takeshima, Hiroyuki; Minten, Bart; Masias, Ian; Aung, Zin Wai; Ei Win, Hnin |
| Abstract: | The significant economic implications of the value of farmland in developing countries is increasingly recognized, particularly in those countries where land scarcity is a growing problem. However, knowledge gaps remain about how farmland values can be affected by factors such as conflict and social instability. A knowledge gap also remains regarding how spatial transmission and feedback effects of land values among geographically proximate parcels may affect the relationship between conflict and farmland values. This impact has generally been overlooked in the literature, despite the well-established importance of clustering in agricultural economies. This paper addresses these gaps by utilizing unique, nationally representative panel data on farm households and spatial data on conflict intensity in Myanmar, with a focus on the period of significant conflict intensification following the 2021 political crisis, particularly in 2022 and 2023, when the country’s conflict level largely shifted to a high-intensity state. We apply spatial econometric models and their extensions to a panel data framework, as well as models that allow for endogenous spatial weights, which enable conflicts to not only affect farmland values but also shape how changes in farmland values transmit across locations. Our results indicate that more local conflict during the prior 12 months, measured by the number of months with at least one fatal violent event within the township of respondents, significantly reduced the farmland values of the largest rice plot of these respondents. Specifically, in the monsoon and non-monsoon harvesting seasons of 2022 and 2023, an additional one month of fatal violence was associated with approximately 3 percent and 5 percent decline in land values, respectively, implying a potentially sizable decline for townships that experience more persistent conflicts over several months. Moreover, the effects of violent events are magnified by spatial spillover effects on land values across village tracts. These adverse effects are robust and consistent across a range of methodologies and hold across diverse agroecological conditions. |
| Keywords: | farmland; conflicts; spatial analysis; seasons; monsoon climate; cereals; rice; Myanmar; Asia; South-eastern Asia |
| Date: | 2026–06–04 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:ifprid:183196 |
| By: | Krumbe, Falk; Feuerbacher, Arndt |
| Abstract: | Promoting organic agriculture is a key policy of the Farm to Fork Strategy as well as the national agricultural strategy of Germany. In this study we provide a detailed analysis of the organic and conventional markets in Germany. Using a unique dataset we analyze the role of organic agriculture not only in production, but also in consumption, trade and its relation to other industries. A policy experiment is conducted using a CGE model to analyze the effects of a VAT reform for organic products. We model the removal of all VAT on organic products. We show that such a reform would lead to a substantial increase in organic production and consumption. The increased demand for organic produce is primarily met by domestic production. In terms of household groups, medium income households benefit the most in absolute terms, while upper medium and high income households benefit the most in per capita terms. The reform is nevertheless not substantial enough to reach the ambitious goals of the European Union of turning 25% of agricultural land organic by 2030. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404375 |
| By: | Pierre-Henry Leveau (GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement) |
| Abstract: | Dans le cadre du 56th Annual International Conference de la Travel and Tourism Research Association (TTRA), qui s'est tenu à Greenville (Caroline du Sud, États-Unis) du 24 au 26 juin 2026, j'ai présenté un poster scientifique intitulé : « Le premier zoo virtuel d'Europe peut‑il éveiller les consciences sur le bien-être animal ?» Cette communication, publiée dans The Conversation (2025), s'inscrit dans les recherches menées sur les transformations du tourisme à l'ère des technologies immersives, de l'intelligence artificielle et des nouveaux comportements de consommation. Elle interroge la manière dont les environnements immersifs peuvent contribuer à renouveler les expériences touristiques tout en favorisant une sensibilisation aux enjeux éthiques et environnementaux. À travers l'étude du zoo virtuel de Bruxelles, ce travail explore le concept de « l'Expérience de Consommation 5.0 » (Leveau, ISTE / Wiley, 2025) en analysant la capacité de la réalité virtuelle à proposer une expérience incarnée, émotionnelle et éducative, sans recourir à la captivité animale. Cette recherche examine dans quelle mesure cette forme d'immersion numérique est susceptible de transformer les perceptions et les attitudes des visiteurs à l'égard du bien-être animal et de promouvoir des pratiques touristiques et marketing plus responsables. Le poster met en évidence le potentiel du zoo virtuel comme une réflexion permettant d'étudier les interactions entre technologies immersives, engagement éthique, apprentissage expérientiel et tourisme responsable. Cette réflexion s'inscrit pleinement dans les enjeux contemporains liés à la transition numérique et écologique des destinations touristiques. |
| Keywords: | Comportement du Consommateur ; Expérience immersive ; Marketing 5.0 ; Tourisme Responsable ; Transformation Numérique |
| Date: | 2026–05–19 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05684441 |
| By: | Maël Ollivier (Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement, SMART - Structures et Marché Agricoles, Ressources et Territoires - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement) |
| Abstract: | Cette présentation porte sur les déterminants économiques du développement de filières biosourcées à partir de coproduits, dans une perspective de bioéconomie circulaire territoriale (BECT). À ce stade, le travail s'articule autour de deux sections complémentaires. La première porte sur l'analyse de la demande : une enquête de choix discret, appliquée à un savon biosourcé, permet d'identifier les attributs valorisés par les consommateurs : le caractère biosourcé ou naturel, la circularité et l'ancrage territorial des ingrédients utilisés pour fabriquer le savon, ainsi que leur consentement à payer pour un potentiel label BECT. La seconde porte sur l'analyse de l'offre, à travers l'étude de la coordination entre les acteurs de la chaîne de valeur (producteurs, transformateurs, distributeurs) et des instruments de gouvernance publique susceptibles de soutenir la structuration de ces filières. Ce travail vise, à terme, à éclairer les conditions économiques et organisationnelles nécessaires à l'émergence de filières biosourcées territorialisées pérennes. |
| Keywords: | Enquête de choix discret, Territoire, Gouvernance, Filières biosourcées, Bioéconomie circulaire |
| Date: | 2026–05–28 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05703357 |
| By: | chandarwal, Abhay kumar |
| Abstract: | India's Ethanol Blended Petrol (EBP) Programme has advanced from a marginal 1.14–1.53 per cent blending rate in 2013–14 to the statutory 20 per cent (E20) target by Ethanol Supply Year (ESY) 2025–26, five years ahead of the original 2030 deadline set under the National Policy on Biofuels, 2018. This rapid scale-up has been accompanied by an equally rapid structural shift in feedstock composition: official data show the share of grain-based ethanol (maize, rice, and damaged food grain) rising from roughly 9 per cent of total procurement in ESY 2020–21 to nearly 60 per cent by early ESY 2024–25, with industry-association estimates placing maize's individual share alone at approximately 50 per cent by ESY 2024–25, up from 6.2 per cent two years earlier. This paper examines the resulting energy-security-versus-food-inflation trade-off using officially reported and peer-reviewed data. It synthesises the National Policy on Biofuels (2018, amended 2022), the NITI Aayog Roadmap for Ethanol Blending in India 2020–25, Ministry of Petroleum and Natural Gas (MoPNG) blending statistics, USDA Foreign Agricultural Service (FAS) maize market data, Reserve Bank of India (RBI) and Ministry of Finance inflation reporting, and a 2026 peer-reviewed partial-equilibrium modelling study (published in PLOS One by researchers at the Indian Institute of Management Ahmedabad, the Potsdam Institute for Climate Impact Research, and the FABLE Consortium). The analysis finds credible evidence of crop-substitution pressure — a 14.7 per cent year-on-year decline in maize production coinciding with record consumption, an 84 per cent collapse in maize exports, and open-market maize prices exceeding the government's minimum support price by approximately 11 per cent in April 2024 — alongside documented cumulative energy-security gains of over ₹1.36–1.59 lakh crore in foreign exchange savings. However, the paper finds that a direct, India-specific econometric (VAR/Granger) estimate of ethanol-to-food-price transmission does not yet exist in the peer-reviewed literature; this study is accordingly framed as a literature- and data-grounded empirical synthesis rather than primary econometric estimation, and it explicitly flags this gap as a priority for future research. Policy recommendations centre on feedstock diversification toward 2G/cellulosic ethanol, protection of grain buffer stocks, and integration of food-price monitoring into the biofuel roadmap. |
| Date: | 2026–07–31 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:svekc_v1 |
| By: | Qing, Chen; Dall'Erba, Sandy |
| Abstract: | Domestic grain trade connects geographically uneven production regions, processing centers, and demand markets through regional trade linkages. This paper examines whether U.S. county-level cereal grain trade is spatially interdependent and whether local trade intensity is associated with climate-related moisture conditions in nearby counties. Using a downscaled county-to-county trade network and spatial econometric models, the analysis shows that county-level imports and exports are geographically clustered rather than randomly distributed. Spatial dependence is more pronounced for exports than for imports, suggesting that export intensity is more closely tied to regional production clusters and neighboring trade activity. Growing-season SPEI, measured relative to historical norms, is also associated with trade intensity beyond local county boundaries. In particular, neighboring counties’ SPEI is negatively associated with local import and export intensity. Overall, the results suggest that domestic grain trade functions as a regional spatial system rather than a set of independent local markets, highlighting the importance of regional linkages in county-level grain trade. |
| Keywords: | Community/Rural/Urban Development |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea26:404760 |