The Environment and Directed Technical Change

• 成果类型: Article
• 署名作者: Acemoglu, Daron; Aghion, Philippe; Bursztyn, Leonardo; Hemous, David
• 署名单位: Massachusetts Institute of Technology (MIT); Canadian Institute for Advanced Research (CIFAR); Harvard University; University of California System; University of California Los Angeles
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.102.1.131
• 发表日期: 2012
• 页码: 131-166
• 关键词: endogenous technological-change; induced innovation; co2 abatement; ECONOMICS; prices; POLICY; COSTS

摘要

This paper introduces endogenous and directed technical change in a growth model with environmental constraints. The final good is produced from dirty and clean inputs. We show that: (i) when inputs are sufficiently substitutable, sustainable growth can be achieved with temporary taxes/subsidies that redirect innovation toward clean inputs; (ii) optimal policy involves both carbon taxes and research subsidies, avoiding excessive use of carbon taxes; (iii) delay in intervention is costly, as it later necessitates a longer transition phase with slow growth; and (iv) use of an exhaustible resource in dirty input production helps the switch to clean innovation under laissez-faire.