CO2 emissions embodied in trade (EET) may play an important role in reducing regional obligations toward carbon emission reduction within the context of a nation's climate change and greenhouse gas emission policy. Based on a multi-region input-output (MRIO) analysis, this paper uses Shanghai's...

The real effective exchange rate (REER) is one of the most cited statistical constructs in open-economy macroeconomics. We show that the models used to compute these numbers are not rich enough to allow for the rising importance of global value chains. Moreover, because different sectors within...