This paper aims at extracting a common factor from major carbon pricing. For this purpose, we use a Dynamic Factor Model (DFM) for which the unobserved common factors and idiosyncratic noises are potentially non-stationary processes. The two-step Kalman smoother procedure is used to estimate the...

This paper explores the effect of market access on firms' export performance and their survival on foreign markets. The data used covers all Peruvian exporting firms between 2002 and 2008, a period during which Peru was active in joining the global economy. This is done using two indices, one...

Using a detailed data set at the tariff line level, we find an emulator effect of multilateralism on subsequent regional trade agreements (RTAs) involving the US. We exploit the variation in the frequency with which the US grants immediate duty free access (IDA) to its RTA partners across tariff...