Between estimates of the emissions-income elasticity
Recent papers by Wagner and Vollebergh et al. point out some fundamental econometric problems with traditional methods of estimating the environmental Kuznets curve (EKC) and propose alternative approaches that avoid these issues. Wagner notes that traditional methods do not take into account the presence of powers of unit root variables and cross-sectional dependence in the data while Vollebergh et al. point out that the time effects are not uniquely identified in the EKC model. The between...[Show more]
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