Aichele, Rahel; Felbermayr, Gabriel - 2010
leakage. Using a gravity model of carbon trade, we analyze the effect of the Kyoto Protocol on the carbon content of bilateral … with endogenous selection of countries into the Protocol. We find strong statistical evidence for Kyoto commitments to … affect carbon trade. On average, the Kyoto protocol led to substantial carbon leakage but its total effect on carbon trade …