estimated elasticity close to unity. We show that this result is at least partly driven by a near zero-emission power sector …

with (i) the introduction of carbon pricing regardless of the price level, (ii) the elasticity of emissions with respect to … relative to imputed counterfactuals, with most abatement occurring in the electricity and heat sector. Exploiting variation in … observed carbon prices to explain heterogeneity in treatment effects, we decompose the average treatment effect obtained after …