The two broad carbon-reducing policies, carbon tax and cap-and-trade, have been implemented at various national and sub-national levels. This paper examines the relationships between emissions-reducing policies and their effect on the country's economic growth (GDP) using carbon tax and CO2...

International trade is highly imbalanced both in terms of values and in terms of embodied carbon emissions. We show that the persistent current value trade imbalance patterns contribute to a higher level of global emissions compared to a world of balanced international trade. Specifically, we...

We examine how transition risk related to climate change affects the debt financing costs of carbon emitting firms. We derive a model of climate risk where firms operate with a dirty emissions-generating process that is exposed to technological change in the form of a competing clean-air...