Concern that unilateral greenhouse gas emission reductions could foster carbon leakage and undermine the international competitiveness of domestic industry has led to growing calls for carbon-based border-tax adjustments (BTAs). This paper uses a global general equilibrium model to assess the...

The Kyoto Protocol covers emissions of a range of greenhouse gases. Yet, most attempts to quantify the economic impact of implementing the Protocol’s emission targets for the period 2008-12 have focused exclusively on CO2 emissions. This paper extends previous OECD analysis confined to CO2...