GREENHOUSE-GAS EMISSION CONTROLS IN AN OPEN ECONOMY
To examine how greenhouse-gas emission controls affect a country's industrial and trade structures, this article presents an open economy model that has both Ricardian and Heckscher-Ohlin features. We specifically compare emission quotas, emission taxes, and emission standards. The patterns of production and trade critically hinge on those policy tools. It is shown that a domestic emission control may lead to carbon leakage and may not reduce the world emissions, and that emission standards may work as a "hidden" production subsidy toward an emission-intensive industry. Copyright 2006 by the Economics Department Of The University Of Pennsylvania And Osaka University Institute Of Social And Economic Research Association.
Year of publication: |
2006
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Authors: | Ishikawa, Jota ; Kiyono, Kazuharu |
Published in: |
International Economic Review. - Department of Economics. - Vol. 47.2006, 2, p. 431-450
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Publisher: |
Department of Economics |
Saved in:
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