Vaios Triantafyllou

Climate policies in advanced economies increasingly condition market access on the carbon content of production abroad. Foreign suppliers can respond by adopting cleaner technologies, contracting, or redirecting exports to less regulated destinations. I study these responses and their implications for global emissions and welfare in the context of the EU's Carbon Border Adjustment Mechanism (CBAM). To do so, I merge firm-to-firm customs records with administrative and capital-investment data for Indian firms exporting to the EU. Subsequently, I develop a novel taxonomy of green, transitional, and vintage technologies by industry, which I use to classify a database of 60,000 investment projects with a Large Language Model. Firms with more at stake in the EU market expand their stock of green capital projects to preserve access, replacing polluting production processes, and substituting grid electricity for on-site fossil-fuel generation. Less exposed firms divert trade to other destinations. To quantify the aggregate effects, I develop a general equilibrium model of trade and technology adoption among heterogeneous suppliers. CBAM reduces global emissions in the covered industries by 1.9%, at USD 11 per tonne avoided, well below standard estimates of the social cost of carbon. Most of the reduction comes from plant-wide adoption, which also lowers emissions on goods sold outside the EU. If firms could instead clean only their EU-bound production, global emissions reductions would be a third smaller and emissions from sales outside the EU would barely fall.

In this paper, I study the impact of Germany’s coal phase-out policy on workers. Using confidential matched employer–employee microdata and a triple difference-in-differences design, I compare workers in electricity generation and coal mining to workers in other industries, across districts with differential baseline dependence on coal-fired power generation, before and after the introduction of the legislation. I find an 8.6% decline in annual labor earnings and a 5.4% reduction in annual days in employment, driven almost entirely by workers in electricity generation. Affected workers were 1.2 p.p. more likely to move into unemployment. The effects were concentrated among middle-aged and less-educated workers, those with shorter job and labor market tenures, and workers in occupations requiring lower experience levels. In an event-study framework around plant closures, I show that workers separating from their establishments experienced larger wage losses compared to those staying, and transitioned into greener but lower-paying establishments. While workers did not transition to other districts or sectors, they were partially absorbed by greener firms, primarily in those districts where green technologies were already abundant.

This paper provides novel evidence on the key drivers of job satisfaction. We ask individuals to describe, in their own words, what they like and dislike about their jobs. These open-ended questions allow us to capture what comes to mind most naturally. We analyze the resulting free-text responses using GPT-4 to identify and classify categories of job amenities. Our main study draws on a sample of 500 full-time U.S.-based employees aged 30 to 55. We find that flexible work arrangements, workplace relationships, and autonomy consistently rank among the most valued aspects of work, while poor workplace relationships, long work hours, and heavy workloads dominate the list of dislikes and rank above factors such as pay. Our approach offers a fresh lens on what job amenities workers are most satisfied and dissatisfied with.

European Muslim populations have been steadily growing in recent decades, prompting debates about how to reconcile liberal democratic principles with Islamic religious doctrine, particularly in the domain of law, where communities sometimes rely on informal religious institutions to resolve family and inheritance matters, eschewing formal judicial channels. We study the Muslim minority of Northern Greece, historically constrained by Islamic religious law for family and internal community matters, and exploit a 2018 legislative change that gave its members the option to use Greek civil courts for the first time. Collecting original data from the archives of the Civil Courts of First Instance and the archives of religious leaders (Muftis), we document a gradual shift away from the latter and toward civil courts, driven primarily by divorces and thus especially consequential for women. Combining these records with the Greek matched employer-employee microdata, population census, business registry, and household surveys, we find that minority women reduced time spent on domestic tasks and increased labor force participation through self-employment. Both take-up and labor market responses are concentrated in localities where traditional social norms were more prevalent. An ongoing survey examines the underlying mechanisms. Our results speak to debates on multicultural approaches to immigrant integration and the tension between inclusive policies and gender bias in religious law.

This paper develops a framework for measuring the marginal cost of non-price regulation by analyzing price and quantity responses to regulatory tightening. We focus on the European Union's 2021 adjustment of CO₂ emission standards for passenger vehicles, which eliminated the phase-in rule allowing only the cleanest 95% of a manufacturer's fleet to count toward compliance. We first establish a sufficient statistic for identifying changes in the shadow cost of regulation. Utilizing administrative data on vehicle registrations and transaction prices, we estimate difference-in-differences specifications that link post-reform changes in prices and quantities to pre-reform compliance gradients, while controlling for vehicle trim fixed effects and comprehensive manufacturer-time and manufacturer-country-time fixed effects. Our empirical analysis reveals that the tightening of standards resulted in significant price increases, approximately two percent for each standard deviation rise in compliance gradient, and a notable decline in sales quantities by around seven percent. These findings enable us to estimate the impact of the regulatory tightening in terms of reduced lifetime vehicle CO₂ emissions and the shadow cost of compliance, providing valuable insights into the economic implications of non-price regulations.