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Subglobal climate agreements and trade in energy intensive commodities
(2011)MIT Center for Energy and Environmental Policy Research Working Paper 2011-003 (CEEPR WP 2011-003)Subglobal climate policies induce changes in international competitiveness and favor a relocation of carbon-emitting activities. We argue that many energy-intensive activities are also capital-intensive, so that carbon policies could affect rents rather than abatement or location. Taking copper as an example, we formulate a plant-level spatial equilibrium model of the industry, and we estimate a set of elasticities to calibrate the ...Working Paper