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Induced innovation in a decentralized model of climate change

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Author Info
Jérémy Laurent-Lucchetti (IEA, HEC Montréal)
Andrew Leach () (IEA, HEC Montréal)

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Abstract

We propose a model of climate change consistent with four principal stylized facts. First, the benefits and costs of climate change mitigation policies are not evenly distributed across generations. Second, capital accumulation is not determined jointly with emissions policy, but rather as a choice made by self-interested economic agents. Third, most research and development activity in the energy sector is undertaken by private firms. Fourth, significant imperfections exist in the market for technology. The model is calibrated to match global trends in GWP, energy production, and investment in research and development, and is used for the evaluation of policies including research and development subsidies and carbon taxes.

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File URL: http://www2.hec.ca/iea/cahiers/2006/iea0602_aleach.pdf
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Publisher Info
Paper provided by HEC Montréal, Institut d'économie appliquée in its series Cahiers de recherche with number 06-02.

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Length: 37 pages
Date of creation: Feb 2006
Date of revision:
Handle: RePEc:iea:carech:0602

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Postal: Institut d'économie appliquée HEC Montréal 3000, Chemin de la Côte-Sainte-Catherine Montréal, Québec H3T 2A7
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Postal: Institut d'économie appliquée HEC Montréal 3000, Chemin de la Côte-Sainte-Catherine Montréal, Québec H3T 2A7
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Related research
Keywords: Alternative energy sources; climate change; technological change; research and development; induced innovation.;

Find related papers by JEL classification:
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
J61 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Geographic Labor Mobility; Immigrant Workers
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data
C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Leach, Andrew J., 2009. "The welfare implications of climate change policy," Journal of Environmental Economics and Management, Elsevier, vol. 57(2), pages 151-165, March. [Downloadable!] (restricted)
  2. Popp, David, 2004. "ENTICE: endogenous technological change in the DICE model of global warming," Journal of Environmental Economics and Management, Elsevier, vol. 48(1), pages 742-768, July. [Downloadable!] (restricted)
  3. Pizer, William A., 1999. "The optimal choice of climate change policy in the presence of uncertainty," Resource and Energy Economics, Elsevier, vol. 21(3-4), pages 255-287, August. [Downloadable!] (restricted)
  4. Reyer Gerlagh, 2003. "Induced Technological Change under Technology Competition," Working Papers 2003.5, Fondazione Eni Enrico Mattei. [Downloadable!]
  5. Narayana R. Kocherlakota, 1996. "The Equity Premium: It's Still a Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 42-71, March. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. GRIMAUD André & LAFFORGUE Gilles & MAGNE Bertrand, 2007. "Economic growth and Climate change in a decentralized Economy: A Theoretical and Empirical Approach," Working Papers 07.04.225, LERNA, University of Toulouse. [Downloadable!]
  2. GRIMAUD, André & LAFFORGUE, Gilles & MAGNE, Bertrand, 2008. "Decentralized Equilibrium Analysis in a Growth Model with Directed Technical Change and Climate Change Mitigation," IDEI Working Papers 537, Institut d'Économie Industrielle (IDEI), Toulouse. [Downloadable!]
  3. GRIMAUD, André & LAFFORGUE, Gilles & MAGNE, Bertrand, 2007. "Innovation Markets in the Policy Appraisal of Climate Change Mitigation," IDEI Working Papers 481, Institut d'Économie Industrielle (IDEI), Toulouse. [Downloadable!]
  4. GRIMAUD André & LAFFORGUE Gilles & MAGNE Bertrand, 2007. "Innovation markets in the policy appraisal of climate change mitigation," Working Papers 07.12.233, LERNA, University of Toulouse. [Downloadable!]
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