Transition to Clean Technology

• 成果类型: Article
• 署名作者: Acemoglu, Daron; Akcigit, Ufuk; Hanley, Douglas; Kerr, William
• 署名单位: Massachusetts Institute of Technology (MIT); Canadian Institute for Advanced Research (CIFAR); University of Pennsylvania; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Harvard University
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/684511
• 发表日期: 2016
• 页码: 52-104
• 关键词: directed technical change; induced innovation; co2 abatement; fossil-fuel; ECONOMICS; POLICY; game; COMPETITION; GROWTH; carbon

摘要

We develop an endogenous growth model in which clean and dirty technologies compete in production. Research can be directed to either technology. If dirty technologies are more advanced, the transition to clean technology can be difficult. Carbon taxes and research subsidies may encourage production and innovation in clean technologies, though the transition will typically be slow. We estimate the model using microdata from the US energy sector. We then characterize the optimal policy path that heavily relies on both subsidies and taxes. Finally, we evaluate various alternative policies. Relying only on carbon taxes or delaying intervention has significant welfare costs.