Aichele, Rahel; Felbermayr, Gabriel - In: The Review of Economics and Statistics 97 (2015) 1, pp. 104-115
Has the Kyoto Protocol induced carbon leakage? We conduct the first empirical ex post evaluation of the protocol. We derive a theoretical gravity equation for the carbon dioxide content of trade, which accounts for intermediate inputs, both domestic and imported. The structure of our new panel...