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The employment impact of environmental policies is an important question for policy makers. We examine the effect of increasing the stringency of environmental policy across a broad set of policies on firms’ labor demand, in a novel identification approach using Worldscope data from 31 countries on firm-level CO2 emissions. Drawing on evidence from as many as 5300 firms over 15 years and the OECD environmental policy stringency (EPS) index, it finds that high emission-intensity firms reduce labor demand upon impact as EPS is tightened, whereas low emission-intensity firms increase labor demand, indicating a reallocation of employment. Moreover, tightening EPS during economic contractions appears to have a positive effect on employment, other things equal. Quantifications exercises show modest positive net changes in employment for market-based policies, and modest negative net changes for non-market policies (mainly emission quantity regulations) and for the combined aggregate EPS. Within market-based policies, the percent decline in employment in high-emission firms (correspondingly the increase in low-emission firms) for a unit change in a policy index is smallest (largest) for trading schemes (“green” certificates, and “white” certificates)—although stringency is not comparable across indices. Finally, the employment effects of EPS are not persistent.

Macroeconomics --- Economics: General --- International Economics --- Labor --- Environmental Policy --- Environmental Conservation and Protection --- Natural Resources --- Foreign Exchange --- Informal Economy --- Underground Econom --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Environmental Economics: Government Policy --- Climate --- Natural Disasters and Their Management --- Global Warming --- Labor Demand --- Nonrenewable Resources and Conservation: General --- Economic & financial crises & disasters --- Economics of specific sectors --- Labour --- income economics --- Environmental policy & protocols --- Climate change --- Environmental management --- Financial crises --- Economic sectors --- Environmental policy --- Environment --- Greenhouse gas emissions --- Labor demand --- Non-renewable resources --- Currency crises --- Informal sector --- Economics --- Economic theory --- Greenhouse gases --- Labor market --- Natural resources --- China, People's Republic of

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This paper inquires into how individual attitudes to climate issues and support for climate policies have evolved in the context of the pandemic. Using data from a unique survey of 14,500 individuals across 16 major economies, this study shows that the experience of the COVID-19 pandemic increased concern for climate change and public support for green recovery policies. This suggests that the global health crisis has opened up more space for policy makers in key large economies to implement bolder climate policies. The study also finds that support for climate policies decreases when a person has experienced income and/or job loss during the pandemic. Protecting incomes and livelihoods in the near-term is thus important also from a climate policy perspective.

VEKP --- 520 Milieubeleid --- 670 Gezondheid --- 654 Publieke opinie --- Macroeconomics --- Economics: General --- Environmental Economics --- Diseases: Contagious --- Environmental Policy --- Climate --- Natural Disasters and Their Management --- Global Warming --- Health Behavior --- Environmental Economics: Government Policy --- Health: General --- Environmental Economics: General --- Economic & financial crises & disasters --- Economics of specific sectors --- Climate change --- Infectious & contagious diseases --- Environmental policy & protocols --- Health economics --- Environmental economics --- Environment --- COVID-19 --- Health --- Climate policy --- Currency crises --- Informal sector --- Economics --- Climatic changes --- Communicable diseases --- Environmental policy --- Environmental sciences --- United States

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This paper inquires into how individual attitudes to climate issues and support for climate policies have evolved in the context of the pandemic. Using data from a unique survey of 14,500 individuals across 16 major economies, this study shows that the experience of the COVID-19 pandemic increased concern for climate change and public support for green recovery policies. This suggests that the global health crisis has opened up more space for policy makers in key large economies to implement bolder climate policies. The study also finds that support for climate policies decreases when a person has experienced income and/or job loss during the pandemic. Protecting incomes and livelihoods in the near-term is thus important also from a climate policy perspective.

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At the macro level, productivity is driven by technology and the efficiency of resource allocation, as outcomes of firms’ decision making. The relatively high level of resource misallocation in India’s formal manufacturing sector is well documented. We build on this research to further investigate the drivers of misallocation, exploiting micro-level variation across Indian states. We find that states with less rigid labor markets have lesser misallocation. We also examine the interaction of labor market rigidities with informality which is a key feature of India’s labor markets. Our results suggest that reducing labor market rigidities in states with high informality has a net positive effect on aggregate productivity.

Labor --- Macroeconomics --- Production and Operations Management --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Institutions and Growth --- Measurement of Economic Growth --- Aggregate Productivity --- Cross-Country Output Convergence --- Economic Growth and Aggregate Productivity: General --- Labor Economics Policies --- Labor Economics: General --- Macroeconomics: Production --- Labor Contracts --- Labour --- income economics --- Total factor productivity --- Labor market reforms --- Productivity --- Employment protection --- Industrial productivity --- Manpower policy --- Labor economics --- India

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Carbon pricing is considered the most efficient policy to reduce greenhouse gas emissions but it has also been conjectured that other policies need to be implemented first to remove certain economic and political barriers to stringent climate policy. Here, we examine empirical evidence on the the sequence of policy adoption and climate policy portfolios of G20 economies and other major emitters that eventually implemented a national carbon price. We find that all countries adopted carbon pricing late in their instrument sequence after the adoption of (almost) all other instrument types. Furthermore, we find that countries that adopted carbon pricing in a given year had significantly larger climate policy portfolios than those that did not. In the last part of the paper, we examine heterogeneity among countries that eventually adopted a carbon price. We find large variation in the size of policy portfolios of adopters of carbon pricing, with more recent adopters appearing to have introduced carbon pricing with smaller portfolios. Furthermore, countries that adopted carbon pricing with larger policy portfolios tended to implement a higher carbon price. Overall, our results thus suggest that policy sequencing played an important role in climate policy, specifically the adoption of carbon pricing, over the last 20 years.

520 Milieubeleid --- 439 Fiscaal recht --- VEKP --- Macroeconomics --- Economics: General --- Environmental Economics --- Environmental Policy --- Environmental Conservation and Protection --- Taxation --- Natural Resources --- Taxation and Subsidies: Externalities --- Redistributive Effects --- Environmental Taxes and Subsidies --- Energy: Government Policy --- Climate --- Natural Disasters and Their Management --- Global Warming --- Environmental Economics: Government Policy --- Nonrenewable Resources and Conservation: General --- Economic & financial crises & disasters --- Economics of specific sectors --- Environmental economics --- Environmental policy & protocols --- Climate change --- Public finance & taxation --- Environmental management --- Environment --- Taxes --- Currency crises --- Informal sector --- Economics --- Emissions trading --- Environmental policy --- Greenhouse gases --- Environmental impact charges --- Natural resources