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This study exploits the installation-level inclusion criteria of the European Union Emissions Trading System (EU ETS) to investigate the policy's causal effect on outbound foreign direct investment (FDI) decisions of German multinational firms. Difference-in-differences with bias-corrected...
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strategies of technological change and offshoring. We perform an industry-level analysis on 38 manufacturing and service sectors …, productivity growth and capital-labour conflict, with profits driven by product innovation and offshoring, and wages rising faster …
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