The transition to climate neutrality requires the reallocation of production factors from polluting activities to non-polluting activities. The main push for this reallocation will come from governmental decarbonisation targets that are translated into stringent climate policy tools, such as...

Climate change is one of the most important issues of the twenty-first century. With the Earth’s fate literally hanging in the balance, observers increasingly recognize the fragility of the planet’s ecosystem. Rising temperatures, hurricanes, floods, wildfires, droughts, tropical storms, and...

There is growing clamor in industrial countries for additional border taxes on imports from countries with lower carbon prices. The authors confirm the findings of other research that unilateral emissions cuts by industrial countries will have minimal carbon leakage effects. However, output and...