Agenda

Economics Seminars are study seminars held on current research proposals or on studies carried out by eminent international researchers and teachers. They are an opportunity for discussion of new theories, developments, models and debates, focussing on various current economics topics.

Economics Seminars are generally held on Mondays at 12:15 in Meeting Room 1 (Complex A – San Giobbe Economics Campus – map).

Upcoming event:

Giovanna Michelon (University of Bristol) - Internalizing Externalities: Disclosure Regulation for Hydraulic Fracturing, Drilling Activity and Water Quality

Abstract: The rise of shale gas and tight oil development has triggered a major debate about hydraulic fracturing (HF). In an effort to mitigate risks from HF, especially with respect to water quality, many U.S. states have introduced disclosure mandates for HF wells and fracturing fluids. We use this setting to study whether targeting activities with dispersed environmental externalities with disclosure regulation reduces their environmental impact. We find significant improvements in water quality, examining salts that are considered signatures for HF impact, after the disclosure mandates are introduced. We document effects along the extensive and the intensive margin, though most of the improvement comes from the latter. Supporting this interpretation, we find that, after the disclosure mandates, operators pollute less per unit of production, use fewer toxic chemicals, and cause fewer spills and leaks of HF fluids and wastewater. We also present evidence that disclosure enables public pressure, which facilitates internalization.