Measuring and assessing the effects of climate policy uncertainty / Clara, Berestycki ... [et al]
Contributor(s): Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Series: OECD Economics Department Working Papers ; no.1724Publisher: Paris : OECD Publishing, 2022Description: 1 Online-Ressource (64 p.) ; 21 x 28cmSubject(s): DOI: DOI: 10.1787/34483d83-enOnline resources: Summary: This study proposes a new indicator of Climate Policy Uncertainty based on newspaper coverage frequency. The indicator currently includes 12 OECD Member Countries and covers the period 1990-2018. The index spikes near major political events and during major discussions around potentially significant climate policy changes. Using a global firm-level dataset, the empirical analysis shows that Climate Policy Uncertainty is associated with economically and statistically significant decreases in investment, particularly in pollution-intensive sectors that are most exposed to climate policies, and among capital-intensive companies. In addition to annual series, the study also provides the indicator at higher frequencies of monthly and quarterly levels, and develops sub-indices that capture the direction of climate policy uncertainty associated with a strengthening or a weakening of climate policies for a sub-set of countries.PPN: PPN: 1817675036Package identifier: Produktsigel: ZDB-13-SOC-ebook | ZDB-13-SOCNo physical items for this record