Do markets Trump politics? Fossil and renewable market reactions to major political events

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2023-12-08 DOI:10.1111/ecin.13195

Samson Mukanjari, Thomas Sterner

引用次数: 0

Abstract

We investigate the effects of three events with major importance for climate policy on energy sector stocks: the Paris Agreement, the Trump election and presidency, and the Biden election. By combining event studies with impulse-indicator saturation methods, we show that the Paris Agreement and the election of Mr. Biden benefited renewable industries, while the election of Mr. Trump had negative effects. For fossil fuel industries, the effects were largely the opposite. Despite Trump's efforts to eliminate environmental regulations, his presidency did however witness a decrease in both US coal production and consumption, while natural gas and oil consumption increased.

Abstract Image

查看原文本刊更多论文

市场会战胜政治吗？化石燃料和可再生能源市场对重大政治事件的反应

我们研究了对气候政策具有重大意义的三个事件对能源行业股票的影响：《巴黎协定》、特朗普当选和总统以及拜登当选。通过将事件研究与脉冲指标饱和方法相结合，我们发现《巴黎协定》和拜登先生的当选有利于可再生能源产业，而特朗普先生的当选则产生了负面影响。对于化石燃料行业，影响则基本相反。尽管特朗普努力消除环境法规，但在他的总统任期内，美国的煤炭产量和消费量都有所下降，而天然气和石油的消费量则有所增加。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.