Schiller A., & Slechten A. (2025), "Effect of natural resource extraction on school performance: Evidence from Texas", Energy Economics, 144, pp. 1-21. Paper DOI:doi.org/10.1016/j.eneco.2025.108308
De Silva D., Schiller A., Slechten A. & Wolk L. (2024), "Tiebout sorting and toxic releases", Environmental and Resource Economics, 87, pp. 2487–2520. Paper DOI: doi.org/10.1007/s10640-024-00893-8
Banerjee S., Homroy S. & A. Slechten (2022), "Stakeholder Preference and Strategic Corporate Social Responsibility", Journal of Corporate Finance, 77, 102286. Paper DOI: https://doi.org/10.1016/j.jcorpfin.2022.102286
Cai J., De Silva D., & Slechten A. (2021), "Effects of Oil Booms on the Local Environment", Energy Economics, 101, pp. 1-12. Paper DOI: doi.org/10.1016/j.eneco.2021.105365
De Silva D., McComb R., Schiller A., & Slechten A. (2021), "Firm Behavior and Pollution in Small Geographies", European Economic Review, 136, pp. 1-33. Paper DOI: doi.org/10.1016/j.euroecorev.2021.103742
Slechten A. (2020), "Environmental agreements under asymmetric information", Journal of the Association of Environmental and Resource Economists , 7(3), 455-481. Paper DOI: https://doi.org/10.1086/707653
Homroy S. & Slechten A. (2019),“Board Expertise, Networked Boards and Environmental Performance”, Journal of Business Ethics, 158 (1), 269-292. Paper DOI: 10.1007/s10551-017-3769-y
Cantillon E. & Slechten A. (2018), "Information aggregation in emissions markets with abatement", Annals of Economics and Statistics, 132, 53-79. Paper DOI: 10.15609/annaeconstat2009.132.0053
Slechten A. and Verardi V. (2016), "Measuring the impact of international agreements on global CO2 emissions", Land Economics, 92 (3), 534-554. Paper DOI: 10.3368/le.92.3.534
Slechten A. (2013), "Intertemporal links in cap-and-trade schemes", Journal of Environmental Economics and Management, 66, 319-336. Paper DOI: 10.1016/j.jeem.2013.01.002
Forthcoming: Market Design for the Environment, Estelle Cantillon, Aurélie Slechten. in New Directions in Market Design, Lo, Ostrovsky, and Pathak. 2025
“Who gains from market fragmentation? Evidence from the early stages of the EU Carbon market", with Estelle Cantillon (Online Appendix)
We document the impact of market fragmentation during the first phase of the EU emissions trading scheme on the terms that traders were able to get. We observe the universe of over-the-counter (OTC) and exchange transactions and the transaction prices associated with four of the 11 exchanges that were active during that period. We define a measure of price advantage based on the difference between the transaction price and the median market-wide price that day. We decompose price advantage into its exchange, counterparty and trader drivers and show that where traders traded and how connected they and their counterparties were with the rest of the market covary with the terms they were able to obtain. Such features are expected to characterize OTCt ransactions but not, typically, anonymous exchange transactions. The high level of market fragmentation during the first phase, which was a policy choice, hampered information aggregation about the overall balance between supply and demand in the market, and put small and non-energy compliance traders at a large disadvantage.
“Director Appointments, Boardroom Networks, and Firm Environmental Performance", with Dakshina De Silva and Mingyuan Chen
Using BoardEx (2000-2017), we create a dynamic network connecting firms and board directors for the United States. We use the Environmental Protection Agency's Toxic Release Inventory to measure environmental performance at the director and firm-level. We examine how a candidate's environmental performance and networks affect director appointments. This allows us to endogenize the effect of directors' environmental experience when studying the impact on firms' chemical releases. We show that firms are likely to appoint influential directors with good environmental records and similar characteristics. Further, boards with good environmental performance and with diverse environmental backgrounds improve firms' environmental performance.
"Corporate Political Leanings and Environmental Performance", with Mingyuan Chen, Dakshina De Silva and Anita Schiller
This paper explores the link between corporate political ideology and environmental practices, using data on U.S. firms' political donations and toxic chemical waste management from 2000 to 2014. A firm's political leaning is determined by the share of contributions to the Republican Party or its candidates, while environmental performance is measured via facility-level data from the Toxics Release Inventory. The key finding is that firms contributing more to the Republican Party or candidates tend to release significantly more toxic chemicals into the environment. This relationship holds even when accounting for CEO and director ideologies, firm characteristics, and local voting patterns.
"Risk Management and Price Formation in the EU Carbon Market" (with Estelle Cantillon)
"Politics of Toxic Releases" (with Dakshina De Silva and Anita Schiller)
"Tidal Wave Energy and Energy Independence: Evidence from Korea" (with Dakshina De Silva, Soon Cheul Lee, Inkoo Lee, and Anita Schiller)
"Decomposing the pollution generation process: who is to blame?" (with Barnabé Walheer)