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Revisiting the relationship between business conditions, climate policy uncertainty, and environmental pollution: evidence from the USA.
- Source :
-
Environmental science and pollution research international [Environ Sci Pollut Res Int] 2023 Sep; Vol. 30 (41), pp. 94334-94346. Date of Electronic Publication: 2023 Aug 02. - Publication Year :
- 2023
-
Abstract
- This paper aims to revisit the interdependency between business conditions, climate policy change, and the environmental pollution of the USA. Interestingly, our paper represents a completion to the existing literature on three levels at least. First, we propose to analyze this issue during normal periods and periods of turmoil, particularly the COVID-19 outbreak. To do so, contrary to previous studies that used economic growth, we employ the ADS index as a real-time business conditions measurement. Second, we employ a frequency approach, based on the continuous wavelet transform, allowing us to understand the nature of the relationship. Understanding whether the relationship holds in the short- or long-term is useful for policymakers in monitoring public policies to achieve CO <subscript>2</subscript> emission reduction as well as to investors interested in high value-added projects. Our analysis shows that, during the last two decades, the relationship between business conditions as well as climate uncertainty index and CO <subscript>2</subscript> emissions is observed during the long- and short-term, and driven through economic conditions. However, during the crisis periods, the effect is detected across various scales and the relationship is bi-directional. Our results have several practical implications for the US policymakers to consider when setting policies for fighting pollution emissions and environmental protection.<br /> (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)
Details
- Language :
- English
- ISSN :
- 1614-7499
- Volume :
- 30
- Issue :
- 41
- Database :
- MEDLINE
- Journal :
- Environmental science and pollution research international
- Publication Type :
- Academic Journal
- Accession number :
- 37531062
- Full Text :
- https://doi.org/10.1007/s11356-023-28869-z