We analyze the economic effects of the differentiated targets for carbon abatement in six European Union member states. Our recursively-dynamic model includes a detailed representation of trade and energy consumption and incorporates optimistic projections for future energy markets provided by...

Policy interventions in large open economies do not only affect the allocation of domestic resources but change international market prices. The change in international prices implies an indirect secondary burden or benefit for all trading countries. This secondary terms of trade effect may have...

We decompose the economic implications of the Kyoto Protocol at the cross-country level, splitting the total economic impact for each region into contributions from its own emission abatement policy and those from other regions. Our analysis which is based on a large-scale computable general...