Climate regulations tend to target energy intensive sectors whose products are widely used in industrial production as intermediate inputs, such as electricity, and the carbon abatement may be partially offset by intermediate input-led leakage. This paper aims to examine the impact of...

China's economic miracle over the past three decades has been featured with its open-door policy, especially the absorption of foreign capital. One downside effect of economic reform has been the ever rising interregional inequality. As FDI is highly unevenly distributed across regions, many...

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models with non-price-taking behavior are constructed and analyzed in greater detail. We discover that technical innovation carried out...