Please use this identifier to cite or link to this item:
Full metadata record
DC FieldValueLanguage
dc.contributor.authorNicita, Leaen_US
dc.contributor.authorCarraro, Carloen_US
dc.contributor.authorMassetti, Emanueleen_US
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_US
dc.publisher|aFondazione Eni Enrico Mattei (FEEM) |cMilanoen_US
dc.relation.ispartofseries|aNota di lavoro // Fondazione Eni Enrico Mattei: Sustainable development |x08.2009en_US
dc.subject.keywordTechnical Changeen_US
dc.subject.keywordClimate Policyen_US
dc.subject.keywordStabilization Costen_US
dc.subject.keywordR&D Investmentsen_US
dc.titleHow does climate policy affect technical change? An analysis of the direction and pace of technical progress in a climate-economy modelen_US
dc.typeWorking Paperen_US

Files in This Item:
301.42 kB

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.