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A note on the generality of the Porter Hypothesis

by Robert D. Mohr

Abstract: The Porter Hypothesis asserts that environmental regulations can spur innovation and benefit regulated firms. Prior economic models derive this outcome only in the presence of additional distortions, suggesting it is unlikely and difficult to induce, though desirable. Using the same graphical framework that economists first employed to critique Porter's hypothesis, this note shows that when distributional consequences of policy are considered, Porter-consistent outcomes are plausible and could be generated through targeted regulation. However, such outcomes provide no benefit beyond reducing environmental externalities. The benefits to firms indicate that regulators have failed to exploit the revenue recycling potential of environmental policy.

页码：1002-1008

DOI： 10.1111/coep.70043

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Carbon market pilot policies and corporate green governance performance: Evidence from China

by Yangyang Li, Xiangzhi Zhao

Abstract: This study employs a multi-period difference-in-differences model to analyze 2009–2022 corporate data, assessing the impact of China's carbon market pilot policy on corporate green governance performance, including environmental disclosure, green innovation, and stakeholder engagement. The policy enhances green governance through two channels by easing corporate financing constraints and stimulating green technology innovation, with results robust to propensity score matching difference-in-differences and spatial placebo tests. Notably, effects are stronger for non-state-owned enterprises, central-region firms, and firms led by environmentally proactive executives. We propose tiered carbon pricing and targeted green financing to address regional and ownership-based disparities, guiding strengthening of market-based green governance in emerging economies.

页码：951-973

DOI： 10.1111/coep.70036

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The specifics of non-routine task changes: A granular approach

by Carol A. Scotese

Abstract: This paper estimates granular specific non-routine tasks and examines employment reallocation across those tasks in the United States. Employment shifts into decision-making, technology, and information-related tasks account for 90% of high-wage employment growth. The granularity reveals non-routine abstract tasks are intensive in all skill environments and that non-college men experienced deskilling arising from displacement from routine work and from non-routine abstract tasks. This is potentially linked to the decline in supervisory employment. The pattern of task reallocation differs across genders. Both non-college and college educated women expanded into a wider array of non-routine abstract tasks relative to their male counterparts.

页码：981-1001

DOI： 10.1111/coep.70041

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Changes in inter-provincial risk sharing during the COVID-19 pandemic in China

by Makram El-Shagi, Kiril Tochkov

Abstract: The stringent measures imposed by the Chinese government to deal with COVID restricted labor mobility across the country, impairing the major mechanism for consumption smoothing in China. This paper explores the composition of risk sharing between Chinese provinces before and during the pandemic. Our results indicate that the share of income shocks smoothed by the factor market exhibits a drastic drop, illustrating the adverse effects of lockdowns and other barriers to labor mobility. By contrast, risk sharing via fiscal mechanisms becomes much more prominent but around 37% of income shocks during the pandemic remain unsmoothed.

页码：974-980

DOI： 10.1111/coep.70039

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All politics is local: Corporate political power and the award of federal contracts

by Reza Houston, Stephen P. Ferris, José Antonio Pérez-Amuedo

Abstract: Political power in political economy lacks standardized metrics. This study introduces a measurement method combining individual legislators' power with firms' political contributions. This corporate political power measure explains federal contracting success. Results show local politicians representing firms' operational areas provide greater contracting benefits than powerful national politicians. Federal representatives support local firms to boost constituent employment and re-election prospects. Additionally, firms strategically reallocate contributions toward more electable politicians when experiencing political power decline, demonstrating adaptive behavior in maintaining influence.

页码：906-950

DOI： 10.1111/coep.70032

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