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Crises and Emissions: New Empirical Evidence from a Large Sample

Joao Jalles ()

No 2019/83, Working Papers REM from ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa

Abstract: In this paper, we empirically assess by means of the local projection method, the impact of different types of financial crises on a variety of pollutant emissions categories for a sample of 86 countries between 1980-2012. We find that financial crises in general lead to a fall in CO2 and methane emissions. When hit by a debt crisis, a country experiences a rise in emissions stemming from either energy related activities or industrial processes. During periods of slack, financial crises in general had a positive impact on both methane and nitrous oxide emissions. If a financial crisis hit an economy when it was engaging in contractionary fiscal policies, this led to a negative response of CO2 and production-based emissions.

Keywords: pollution; greenhouse gases; local projection method; impulse response functions; recessions; fiscal expansions (search for similar items in EconPapers)
JEL-codes: E32 E6 F65 G01 O44 Q54 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-ene, nep-env and nep-mac
Date: 2019-05
References: View references in EconPapers View complete reference list from CitEc
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Journal Article: Crises and emissions: New empirical evidence from a large sample (2019) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ise:remwps:wp0832019

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