Working Paper

13 February 2021

Climate Regulation and Emissions Abatement: Theory and Evidence from Firms’ Disclosures

We construct measures of firms' beliefs about climate regulation, plans for future abatement, and current emissions mitigation from responses to the Carbon Disclosure Project. These measures vary in a pronounced, distinctive...

Tarun Ramadorai | Federica Zeni
08 December 2020

Exporting Pollution: Where Do Multinational Firms Emit CO2?

Despite widespread awareness of the detrimental impact of CO2 pollution on the world climate, countries vary widely in how they design and enforce environmental laws. Using novel microdata about multinational firms’ CO2 emissions...

Itzhak Ben-David | Yeejin Jang | Stefanie Kleimeier | Michael Viehs
07 November 2019

Extended Shareholder Liability for Systemically Important Financial Institutions

Regulators generally have tried to address the problems posed by the excessive risk-taking of Systemically Important Financial Institutions (SIFIs) by placing restrictions on the activities in which SIFIs engage. However, the...

Alessandro Romano | Luca Enriques | Jonathan Macey