A Bridge on Economic Issues between China and the World
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Place Prosperity vs People Prosperity: Migration and the Intergenerational Transmission of Knowledge
Carol H. Shiue, Wolfgang Keller, Apr 23, 2025The trajectory of an economy's development can often be better understood through the historical experiences of its populace. Long before the availability of comprehensive official data, Chinese family genealogies are a valuable resource for reconstructing economic evolution over time, as the following shows.
A New Method for Estimating Product-Level Emission Intensities and Implications for EU’s Carbon Border Adjustment Mechanism
Ohyun Kwon, Hao Zhao, Min Qiang Zhao, May 14, 2025We develop a new method for estimating product-level emission intensities (PLEI) by combining firm-level emissions with firm-product output data. This methodological innovation produces highly granular emission measures that are essential for both academic research and climate policy design. Applying the method to Chinese manufacturing data, we uncover stark heterogeneity: the top 10% of emission-intensive products account for 75% of emissions but only 4% of exports. We incorporate our PLEI estimates into a general equilibrium trade model to assess the EU’s Carbon Border Adjustment Mechanism (CBAM). Our simulations demonstrate that, at the same carbon price, product-level CBAM achieves substantially greater emissions reductions than sector-level CBAM, while causing markedly less trade disruption. These results underscore the importance of product-level emission intensity data in designing targeted and cost-effective climate policies.
