Global Policy Spillovers: How Environmental Policies Propagate through Product Attributes

We would like to thank Linnea Holy and David Xu for excellent research assistance. We also thank Shanjun Li for his detailed discussion of our paper at the NBER Environment and Energy Economics Spring 2026 Program Meeting, and Soren Anderson, Severin Borenstein, Robin Burgess, Meghan Busse, Brian Cadena, Tamma Carleton, Christopher Costello, Maureen L. Cropper, Lucas Davis, Natalia Fabra, Michael Greenstone, Mark Jacobsen, Akshaya Jha, Ryan Kellogg, Nicolai V. Kuminoff, Ashley Langer, Erin Mansur, John Van Reenen, Mar Reguant, James H. Stock, Stephanie Weber and seminar participants at Carnegie Mellon University, the Coase Project conference, the Center for Monetary and Financial Studies (CEMFI), the London School of Economics, Northwestern University, Michigan State University, Stanford University, Tulane University, Tsinghua University, the University of California, Berkeley, the University of California, Davis and the University of Colorado, Boulder, and the University of Missouri for their helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

• May 12, 2026