ECIN Replication Package for "Do Markets Trump Politics? Fossil and Renewable Market Reactions to Major Political Events"

Principal Investigator(s): View help for Principal Investigator(s) Samson Mukanjari, International Institute for Industrial Environmental Economics, Lund University; Thomas Sterner, Department of Economics, University of Gothenburg

Version: View help for Version V3

Name	File Type	Size	Last Modified
Replication_Files			10/29/2023 03:51:PM

Project Citation:

Mukanjari, Samson, and Sterner, Thomas . ECIN Replication Package for “Do Markets Trump Politics? Fossil and Renewable Market Reactions to Major Political Events.” Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2023-10-29. https://doi.org/10.3886/E192722V3

Project Description

Summary: 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.

Funding Sources: Swedish International Development Cooperation Agency (Sida) ; Länsförsäkringars Forskningsfond; Mistra Carbon Exit programme

Scope of Project

JEL Classification:
      G14 Information and Market Efficiency; Event Studies; Insider Trading
      Q40 Energy: General
      Q54 Climate; Natural Disasters and Their Management; Global Warming

Manuscript Number: ECIN-Apr-2022-0178

Time Period(s): 1/1/2009 – 3/31/2021; 1/1/2003 – 8/31/2020

Data Type(s): event/transaction data

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V3 [2023-10-29]

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