Aichele, Rahel; Felbermayr, Gabriel - Forschungszentrum Innovation und Dienstleistung, … - 2010
leakage. Using a gravity model of carbon trade, we analyze the effect of the Kyoto Protocol on the carbon content of bilateral … trade. We construct a novel data set of CO2 emissions embodied in bilateral trade flows. Its panel structure allows dealing … affect carbon trade. On average, the Kyoto protocol led to substantial carbon leakage but its total effect on carbon trade …