Jo, Soojin; Karnizova, Lilia - 2021 - Last updated: October 5, 2021
CO2 emissions are commonly perceived to rise and fall with aggregate output. Yet many factors, including energy …-efficiency improvements, emissions coefficient variations and shifts to cleaner energy, can break the positive emissions-output relationship … impacts on macroeconomic and environmental indicators, we interpret these shocks as changes in the energy efficiency of …