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dc.contributor.authorNicita, Leaen
dc.contributor.authorCarraro, Carloen
dc.contributor.authorMassetti, Emanueleen
dc.date.accessioned2011-01-28-
dc.date.accessioned2011-12-15T11:32:27Z-
dc.date.available2011-12-15T11:32:27Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/53284-
dc.description.abstractThis paper analyses whether and how a climate policy designed to stabilize greenhouse gases in the atmosphere is likely to change the direction and pace of technical progress. The analysis is performed using an upgraded version of WITCH, a dynamic integrated regional model of the world economy. In this version, a non-energy R&D Sector, which enhances the productivity of the capital-labor aggregate, has been added to the energy R&D sector included in the original WITCH model. We find that, as a consequence of climate policy, R&D is re-directed towards energy knowledge. Nonetheless, total R&D investments decrease, due to a more than proportional contraction of non-energy R&D. Indeed, when non-energy and energy inputs are weakly substitutable, the overall contraction of the economic activity associated with a climate policy induces a decline in total R&D investments. However, enhanced investments in energy R&D and in the energy sector are found not to crowd-out investments in non-energy R&D.en
dc.language.isoengen
dc.publisher|aFondazione Eni Enrico Mattei (FEEM) |cMilanoen
dc.relation.ispartofseries|aNota di Lavoro |x08.2009en
dc.subject.jelC72en
dc.subject.jelH23en
dc.subject.jelQ25en
dc.subject.jelQ28en
dc.subject.ddc330en
dc.subject.keywordTechnical Changeen
dc.subject.keywordClimate Policyen
dc.subject.keywordStabilization Costen
dc.subject.keywordR&D Investmentsen
dc.titleHow does climate policy affect technical change? An analysis of the direction and pace of technical progress in a climate-economy model-
dc.typeWorking Paperen
dc.identifier.ppn644836857en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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