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dc.contributor.authorGrimaud , Andréen_US
dc.contributor.authorLafforgue , Gillesen_US
dc.contributor.authorMagné , Bertranden_US
dc.description.abstractThe paper considers a climate change growth model with three R&D sectors dedicated to energy, backstop and CCS (Carbon Capture and Storage) efficiency. First, we characterize the set of decentralized equilibria: A particular equilibrium is associated to each vector of public tools which includes a carbon tax and a subsidy to each R&D sector. Moreover, we show that it is possible to compute any equilibrium as the solution of a maximization program. Second, we solve the first-best optimum problem and we implement it by computing the vector of optimal tools. Finally, we illustrate the theoretical model using some calibrated functional specifications. In particular, we investigate the effects of various combinations of public policies (including the optimal ones) by determining the deviation of each corresponding equilibrium from the laisser-faire benchmark.en_US
dc.publisherCenter for Economic Studies and Ifo Institute (CESifo) Munichen_US
dc.relation.ispartofseriesCESifo working paper 2875en_US
dc.subject.keywordclimate changeen_US
dc.subject.keyworddirected technical changeen_US
dc.subject.keywordcarbon taxen_US
dc.subject.keywordR&D subsidiesen_US
dc.titleClimate change mitigation options and directed technical change: a decentralized equilibrium analysisen_US
dc.typeWorking Paperen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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