This volume was prepared by Rahel Aichele while she was working at the ifo Institute. It was completed in December 2012 and accepted as a doctoral thesis by the Department of Economics at the University of Munich. It includes five self-contained chapters. The chapters investigate how, in a...

The creation of the EU's Emission Trading Scheme (EU ETS) has turned the right to emit CO2 into a positively priced intermediate good for the affected firms. Firms thus face the decision whether to source compliance with the EU ETS within their boundaries or to acquire it through the permit...

We estimate the short-run trade effects of natural disasters using monthly trade data and data on the physical intensity of earthquakes and storms. We find large negative effects for heavily indebted poor, least developed or landlocked developing countries but only small effects for other...

We develop a simple methodology to estimate monthly aggregate supply and demand conditions from bilateral international trade data for about 180 countries and 40 years. We apply our method to measure the short-run effects of natural disasters. In line with theoretical considerations, we find...

We examine how the adverse impacts of weather shocks are distributed through the trade network. Exploiting a rich, theoretically derived, fixed effects structure, we find significant negative short-run effects of high temperature on exports. A month with an average temperature above 30 êC...

We quantify the impact of large flooding events on the plant-level trade of manufacturing firms in China. Constructing a panel data set of more than 685,000 geolocated plants and provincial city and county measures of flooding events derived from precise geolocated monthly flood areas, we show...

We examine the pattern of allowance trades in the European Union Emissions Trading System (EU ETS) using highly disaggregated trading data and identify a significant and robust home market bias. Our results point to informational transactions costs that increase when trading across national...

We use Danish firm-level data to examine the causal link between carbon emissions, offshoring, and import competition. Offshoring reduces firms' emission intensity but increases their production. Import competition reduces firms' production without affecting their emission intensity. For...

This review summarizes the empirical literature on the effects of natural disasters and weather variations on international trade flows. A first result is that the body of literature is actually not as small as previously suggested. In total, I summarize 19 studies of 18 independent research...

This paper quantifies the impact of hurricanes on seaborne international trade to the United States. Using geocoded hurricane data mapped to satellite tracking data for commercial ships, we identify hurricane intersections on sea-trade routes between U.S. and foreign ports. Matching the timing...