Working Papers
Wildfire Smoke and Road Accidents: Evidence from Alberta (Job Market Paper)
Abstract: This paper examines how wildfire smoke exposure affects road safety in Alberta. Combining satellite-based smoke plume data with municipality-day accident records from 2016 to 2022, I find that accident incidents rise on low- and medium-smoke days but fall sharply on heavy-smoke days. Traffic volume data show that vehicle counts remain unchanged when smoke is light yet decline substantially under heavy smoke, indicating that people avoid driving only when conditions are visibly severe. These patterns suggest that on low-smoke days, drivers continue their usual travel but may experience reduced cognitive performance, leading to more accidents even though they do not perceive a risk. The results highlight an overlooked behavioral cost of wildfire smoke exposure and underscore the need for public awareness that smoke can impair cognition and driving safety even when it is not readily perceptible.
Leverage Adjuestment to Carbon Tax: Evidence from British Columbia's Carbon Tax Policy (with Chi Man Yip and Wei Feng )
Abstract: This study investigates how a firm’s capital structure is affected by British Columbia’s carbon tax policy, using confidential data on Canadian manufacturing firms from 2005 to 2015. We find that the carbon tax increases total leverage and short-term leverage among energy-intensive firms; however, it does not affect long-term leverage. Additionally, we find that the effect is concentrated among financially unconstrained firms, a result supported by multiple placebo tests. Overall, our findings suggest that regulators can strengthen the effectiveness of environmental policies while minimizing potential harm to firms by providing targeted support through transition financing.
Work in Progress
Wildfire Smoke and Birth Outcomes: Evidence from Mexico
Abstract: This study examines the causal impact of maternal exposure to wildfire smoke during pregnancy on infant health outcomes in Mexico. I combine the universe of municipality-week birth records with wildfire smoke data and detailed weather controls to construct trimester-specific measures of smoke exposure. I then estimate the effects of smoke exposure on birth weight, birth height, and gestation length. The findings will provide evidence on the consequences of wildfire smoke on birth outcomes and help inform protective policies for pregnant women in smoke-affected regions.