The response of CO<mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" altimg="si5.svg"><mml:msub><mml:mrow /><mml:mn>2</mml:mn></mml:msub></mml:math> emissions to the business cycle: New evidence for the U.S.

This paper investigates the response of CO2 emissions to the business cycle for the U.S. on a monthly basis between 1973 and 2015. Using a rolling-regression approach, we find that the emissions elasticity with respect to GDP is not constant over time, irrespective which filtering method, such as the Hodrick-Prescott, the Baxter-King, the Christiano-Fitzgerald or the Butterworth filter has been employed. In order to check whether or not...