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国际经济学workshop: Strategic Commitments to Decarbonize: The Role of Large Firms, Common Ownership, and Governments
发布日期：2024-05-21 11:33 来源：
主讲人：Olivier Wang（New York University, Stern School of Business）
主持人：余昌华（北京大学国家发展研究院）
时间：2024年5月21日（周二）晚上8:30-10:00（北京时间）
地点：线上会议
Zoom会议号：926 3889 7210
密码：908060
摘要：
We study the effects, determinants, and credibility of corporate and government commitments to decarbonize when there are environmental damages from emissions and spillovers in green innovation. If innovation subsidies are constrained, it becomes beneficial for large firms, or firm coalitions held by large common investors, to commit to adopt and invest in green technologies. Commitments are profit-driven coordination devices to spur innovation by other firms, which reduces committing firms’ own transition risk. Firm commitments also improve the credibility of governments’ commitments to future environmental policies. Suggestive evidence confirms firm size and common ownership are associated with (earlier) Net Zero commitments.
主讲人介绍：
Olivier Wang joined New York University Stern School of Business as an Assistant Professor of Finance in July 2019.
Professor Wang conducts research in macroeconomics, banking, and international finance, with a particular interest in monetary policy. His recent research studies how the secular decline in interest rates, observed in the US and other advanced countries, affects the macroeconomy through interactions between commercial banks’ lending and deposit-taking activities. He has also analyzed the link between rising product market concentration and monetary policy transmission, and how the interplay between incomplete exchange rate pass-through to import and export prices and currency mismatch in private balance sheets can constrain exchange rate policy in emerging markets.
Prior to joining NYU Stern, Professor Wang was a Teaching Assistant at MIT. He received the AQR Top Finance Graduate Award in 2019.
Professor Wang received his BA in Mathematics and MA in Economics from the École Normale Supérieure, and his PhD in Economics from MIT.
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国际经济学workshop: Strategic Commitments to Decarbonize: The Role of Large Firms, Common Ownership, and Governments
发布日期：2024-05-21 11:33 来源：
主讲人：Olivier Wang（New York University, Stern School of Business）
主持人：余昌华（北京大学国家发展研究院）
时间：2024年5月21日（周二）晚上8:30-10:00（北京时间）
地点：线上会议
Zoom会议号：926 3889 7210
密码：908060
摘要：
We study the effects, determinants, and credibility of corporate and government commitments to decarbonize when there are environmental damages from emissions and spillovers in green innovation. If innovation subsidies are constrained, it becomes beneficial for large firms, or firm coalitions held by large common investors, to commit to adopt and invest in green technologies. Commitments are profit-driven coordination devices to spur innovation by other firms, which reduces committing firms’ own transition risk. Firm commitments also improve the credibility of governments’ commitments to future environmental policies. Suggestive evidence confirms firm size and common ownership are associated with (earlier) Net Zero commitments.
主讲人介绍：
Olivier Wang joined New York University Stern School of Business as an Assistant Professor of Finance in July 2019.
Professor Wang conducts research in macroeconomics, banking, and international finance, with a particular interest in monetary policy. His recent research studies how the secular decline in interest rates, observed in the US and other advanced countries, affects the macroeconomy through interactions between commercial banks’ lending and deposit-taking activities. He has also analyzed the link between rising product market concentration and monetary policy transmission, and how the interplay between incomplete exchange rate pass-through to import and export prices and currency mismatch in private balance sheets can constrain exchange rate policy in emerging markets.
Prior to joining NYU Stern, Professor Wang was a Teaching Assistant at MIT. He received the AQR Top Finance Graduate Award in 2019.
Professor Wang received his BA in Mathematics and MA in Economics from the École Normale Supérieure, and his PhD in Economics from MIT.
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