Do markets Trump politics? Fossil and renewable market reactions to major political events
研究了巴黎协定、特朗普当选及执政、拜登当选对能源板块股票的影响，发现巴黎协定和拜登当选利好可再生能源，特朗普当选则相反，且特朗普执政期间美国煤炭产消下降、油气消费上升。
Abstract We investigate the effects of three events with major importance for climate policy on energy sector stocks: the Paris Agreement, the Trump election and presidency, and the Biden election. By combining event studies with impulse‐indicator saturation methods, we show that the Paris Agreement and the election of Mr. Biden benefited renewable industries, while the election of Mr. Trump had negative effects. For fossil fuel industries, the effects were largely the opposite. Despite Trump's efforts to eliminate environmental regulations, his presidency did however witness a decrease in both US coal production and consumption, while natural gas and oil consumption increased.