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Ten years after the initial Climate Change Convention from Rio in 1992, the developed world is likely to ratify the Kyoto Protocol which has been celebrated as a milestone in climate protection. Standard economic theory, however, casts doubt that Kyoto will go beyond symbolic policy. In this...
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We study the effectiveness of emission targets under the Kyoto Protocol with respect to reducing CO<sub>2</sub> emissions. Using country-level and US state-level panel data and employing the synthetic control method, we find very little evidence for an emission reduction effect for the major emitters among...
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