2026-06-28T20:22:34Zhttps://docta.ucm.es/rest/oai/request
oai:docta.ucm.es:20.500.14352/1341372026-03-20T01:08:49Zcom_20.500.14352_14col_20.500.14352_15
Docta Complutense author Espinola Arredondo, Ana author Munoz Garcia, Felix author Tomori, Françeska 2026-03-19T10:16:56Z 2026-03-19T10:16:56Z 2025-10-03 Espinola-Arredondo, Ana, Munoz-Garcia, Felix, and Tomori, Françeska. Climate events and adaptation: Effects on environmental policy and abatement, Resource and Energy Economics, Volume 84, 2025, 101537, https://doi.org/10.1016/j.reseneeco.2025.101537. 0928-7655 10.1016/j.reseneeco.2025.101537 https://hdl.handle.net/20.500.14352/134137 1873-0221 https://doi.org/10.1016/j.reseneeco.2025.101537 We examine how an extreme climate event affects the incentives of regulators to invest in adaptation measures that reduce the impact on firms’ production costs, and how this investment affects environmental policy and firms’ incentives to invest in abatement. Different government agencies implement these policies (adaptation and emission fees) and can exhibit asymmetric preferences for pollution. We find that investment in adaptation and abatement are complements, and more likely climate events decrease firms’ investment in abatement. We also find that severe climate events can induce less investment in adaptation, as they can be used as a tool to reduce expected output and pollution. In addition, we show that symmetric agencies induce a lower investment in adaptation. Finally, we separately identify the welfare gains from adaptation and environmental policy. eng Attribution-NonCommercial-NoDerivatives 4.0 International Climate events and adaptation: effects on environmental policy and abatement journal article 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URL https://docta.ucm.es/bitstreams/1466dfe5-7f94-4d4e-80fd-6a1d4a986c28/download File MD5 814bc994b2272c7e7abd0c822e7c8636 3413454 application/pdf Climate events and adaptation.pdf