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| Bosetti, Valentina; Drouet, Laurent. |
| The key role of technological change in the decline of energy and carbon intensities of aggregate economic activities is widely recognized. This has focused attention on the issue of developing endogenous models for the evolution of technological change. With a few exceptions this is done using a deterministic framework, even though technological change is a dynamic process which is uncertain by nature. Indeed, the two main vectors through which technological change may be conceptualized, learning through R&D investments and learning-by-doing, both evolve and cumulate in a stochastic manner. How misleading are climate strategies designed without accounting for such uncertainty? The main idea underlying the present piece of research is to assess and... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 2005 |
URL: http://purl.umn.edu/12143 |
