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Carbon Kuznets Curves: Long-Run Structural Dynamics and Policy Events

35 Pages Posted: 30 Nov 2009  

Massimiliano Mazzanti

University of Ferrara & CERIS CNR, Italy; CESAER INRA, UMR, France

Antonio Musolesi

University of Ferrara & CERIS CNR, Italy; CESAER INRA, UMR, France

Date Written: November 24, 2009

Abstract

We study the structural differences among climate change leading ‘factors’ - Northern EU members -, and lagging actors - southern EU countries and the ‘Umbrella group’ - with regard to long run carbon-income relationships. Homogeneous and heterogeneous panel models show that the groups of countries less in favour of stringent climate policy have yet to experience a Kuznets curve, though they show relative delinking. Northern EU instead robustly shows bell shapes. Exogenous policy events such as the 1992 climate change convention appear to be relevant in shaping the EKC of Northern EU. In addition, other events such as the second oil price shock appear to have also impacted in shaping the long run emission/GDP dynamics.

Keywords: Carbon Kuznets Curve, Panel Cointegration, Heterogeneous Panels, Cross-Section Correlation, Kyoto Framework, Bayesian Models, Policy Events, Long Run Dynamics

JEL Classification: C23, Q53

Suggested Citation

Mazzanti, Massimiliano and Musolesi, Antonio, Carbon Kuznets Curves: Long-Run Structural Dynamics and Policy Events (November 24, 2009). FEEM Working Paper No. 87.2009. Available at SSRN: https://ssrn.com/abstract=1512564 or http://dx.doi.org/10.2139/ssrn.1512564

Massimiliano Mazzanti (Contact Author)

University of Ferrara & CERIS CNR, Italy ( email )

via Voltapaletto, 11
Ferrara, 44100
Italy

CESAER INRA, UMR, France ( email )

via Bassini 15
Milan
Italy

Antonio Musolesi

University of Ferrara & CERIS CNR, Italy; CESAER INRA, UMR, France ( email )

Via Bassini, 15
20133 Milano
Italy

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