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| Carraro, Carlo; Massetti, Emanuele; Nicita, Lea. |
| This 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... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Technical Change; Climate Policy; Stabilization Cost; R&D Investments; Environmental Economics and Policy; C72; H23; Q25; Q28. |
| Ano: 2009 |
URL: http://purl.umn.edu/50357 |
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| Carraro, Carlo; De Cian, Enrica; Nicita, Lea. |
| Climate-economy models aiming at quantifying the costs and effects of climate change impacts and policies have become important tools for climate policy decision-making. Although there are several important dimensions along which models differ, this paper focuses on a key component of climate change economics and policy, namely technical change. This paper tackles the issues of whether technical change is biased towards the energy sectors, the importance of the elasticity of substitution between factors in determining this bias and how mitigation policy is likely to affect it. The analysis is performed using the World Induced Technical Change model, WITCH. Three different versions of the model are proposed. The starting set-up includes endogenous technical... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Technical Change; Climate Policy; Stabilization Cost; Environmental Economics and Policy; C72; H23; Q25; Q28. |
| Ano: 2010 |
URL: http://purl.umn.edu/59376 |
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