İşletme Fakültesi Seminer Serisi / Suphi Şen

Title: Carbon Taxes and Stranded Assets: Evidence from Washington State

Abstract: The climate challenge requires ambitious climate policy. A sudden increase in carbon prices may lead some assets to lose part of their value, others all of it, and hence become “stranded”. If the markets are not ready to absorb the shock, a financial crisis could follow. We analyze the rejection of two carbon tax initiatives in Washington state and find that these modest policy proposals caused substantial readjustments on the stock market, especially for carbon-intensive stocks. Our results reinforce concerns about “stranded assets” and the risk of financial contagion and support the inclusion of transition risks in macroprudential policymaking.

Tarih: 14 Şubat Cuma, 2020
Saat: 13:00-14:30
Yer: AB2, 345