There is widespread concern that an international agreement on stringent climate policies will not be reached because it would imply too high costs for fast growing economies like China. To quantify these costs we develop a general equilibrium model with fully endogenous growth. The framework...

This study reviews the empirical literature on the integration properties of energy consumption and production. The survey begins with a discussion of the implications of whether energy variables contain a unit root and proceeds to examine how results differ according to the specific unit root...