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</o:shapelayout></xml><![endif]--></head><body lang=DE link=blue vlink=purple><div class=WordSection1><p class=MsoPlainText><span lang=EN-US>Dear All,<o:p></o:p></span></p><p class=MsoPlainText><span lang=EN-US><o:p> </o:p></span></p><p class=MsoPlainText><span lang=EN-US>we are happy to announce the following Research Seminar in Economics to take place on Tuesday, January 4th at 18:00 - 19:30 in room E03, ground floor, Mohlstraße 36.<o:p></o:p></span></p><p class=MsoPlainText><span lang=EN-US><o:p> </o:p></span></p><p class=Default><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:windowtext;mso-fareast-language:EN-US'>Presenter: Sandra Poncet – Paris School of Economics<o:p></o:p></span></p><p class=MsoPlainText><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>Title: " Environmental policy and exports: Evidence from China" <o:p></o:p></span></p><p class=Default><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:windowtext;mso-fareast-language:EN-US'>(joint work with Laura Hering)<o:p></o:p></span></p><p class=MsoPlainText><span lang=EN-US><o:p> </o:p></span></p><p class=MsoPlainText><span lang=EN-US>Abstract:<o:p></o:p></span></p><p class=Default><span lang=EN-US style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:windowtext;mso-fareast-language:EN-US'><o:p> </o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>This paper assesses the effectiveness of environmental regulations in China.<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>Our identification is based on the environmental policy of the Two Control Zones<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>(TCZ), which was implemented by the Chinese government in 1998. The aim<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>of this policy was to reduce sulfur dioxide (SO2) emissions in targeted cities<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>with particularly severe air pollution. We use export data from 265 Chinese<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>cities among which 158 were targeted by this policy, and exploit variations over<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>time, sector and firm type to establish the causal effect of this policy on exports.<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>Our results are robust to using an instrumental variable approach. Tougher en-<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>vironmental regulations lead to the reallocation of export activities away from<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>energy-intensive sectors. In line with a suspicion of differences in policy enforce-<o:p></o:p></span></p><p class=MsoNormal style='text-autospace:none'><span lang=EN-US>ment according to the political pecking order of firms, the TCZ policy is found<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US>to have a greater impact the lower the firm's political status.<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US>Regards,<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US>Prof. Dr. Johannes Pfeifer<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p><p class=MsoNormal><span lang=EN-US style='mso-fareast-language:DE'>--<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='mso-fareast-language:DE'>Johannes Pfeifer<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='mso-fareast-language:DE'>Department of Economics<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='mso-fareast-language:DE'>University of Tuebingen<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='mso-fareast-language:DE'>Mohlstrasse 36<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='mso-fareast-language:DE'>72074 Tuebingen<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='mso-fareast-language:DE'>Germany<o:p></o:p></span></p><p class=MsoNormal><span lang=EN-US style='mso-fareast-language:DE'>Phone: +49 7071 29</span><span style='mso-fareast-language:DE'>74137<o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>