Legislation promoting largescale solar could potentially elevate farmland prices. Using approximately 12,000 farmland transactions (2007-2021), we study the impact of the 2015 Shared Renewable Program (SRP) and relevant policies in New York state. We find that large solar-suitable parcels within 2 miles of substations sold for 15%- 18% more than comparable parcels farther away after the program's implementation. This effect is absent for parcels unsuitable for solar but desirable for housing, suggesting it is unrelated to housing pressure. We also find a stronger effect on farmland in regions with higher electricity prices (about 20%), suggesting the impact of the SRP varies with location and time. (JEL Q15, Q28)
This meta-analysis of stated preference studies involving over 49,500 respondents quantifies the economic value of co-benefits from nature-based solutions (NBSs) that address climate risks. The results indicate that the willingness to pay for co-benefits increases with GDP per capita and decreases with NBS size. Recreational and aesthetic benefits, as well as NBSs developed in urban gray areas, are more valued than conservation and maintenance of current nature sites. The novel value transfer function can assist future research and policy makers in assessing the economic co-benefits of NBSs for climate risk based on the policy site characteristics. (JEL Q54, Q57)
Does heat increase the probability of missing work for formal-sector workers? We address this question by analyzing nearly three years of daily data on 274 employees across 86 locations of a large welding firm in India. We find that a 1 degrees C rise in daily mean temperature increases the probability of missing work for workers without workplace climate control by 3.4% of the mean rate of absence. The same temperature increase decreases the probability of missing work by 2.5% relative to mean absenteeism for workers with climate control.
Societal functioning needs both formal and informal institutions. However, the existing body of literature predominantly emphasizes the influence of formal institutions on climate change, often neglecting the role of informal mechanisms. This article draws on clan networks in China to investigate the influence of informal institutions on county-level carbon emissions. Using the historical number of Confucian temples as an instrumental variable, the findings suggest that informal institutions contribute to an unexpected increase in carbon emissions. This effect is attributed to corruption and deficiencies in environmental enforcement. Gender diversity among local leadership mitigates the adverse effects associated with informal institutions. (JEL O17, Q54)
To evaluate large-scale publicly funded projects aiming at improving farmland quality, we study the income effects of China's High-Standard Farmland Construction Program. We exploit the implementation of the program and conduct a difference-indifferences analysis. We find that the program improved per capita income for rural populations, mainly through short-term projects. Crop production gains driven by complementary inputs, including machinery and fertilizer combined with efficient land allocation rather than labor allocation, are the primary mechanisms that account for the impact of this policy. (JEL O11, Q11)
