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Restricted carbon emissions and directed R&D support; an applied general equilibrium analysis

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  • Bye, Brita
  • Jacobsen, Karl
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    Abstract

    We analyse welfare effects of supporting general versus emission-saving technological development when carbon emissions are regulated by a carbon tax. We use a computable general equilibrium model with induced technological change (ITC). ITC is driven by two separate, economically motivated research and development (R&D) activities, one general and one emission-saving specified as carbon capture and storage (CCS). We study public revenue neutral policy alternatives targeted towards general R&D and CCS R&D. Support to general R&D is the welfare superior. However, the welfare gap between the two R&D policy alternatives is reduced with higher carbon tax levels. For sufficiently high levels of the carbon tax equal subsidy rates are preferred.

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    Bibliographic Info

    Article provided by Elsevier in its journal Energy Economics.

    Volume (Year): 33 (2011)
    Issue (Month): 3 (May)
    Pages: 543-555

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    Handle: RePEc:eee:eneeco:v:33:y:2011:i:3:p:543-555

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    Web page: http://www.elsevier.com/locate/eneco

    Related research

    Keywords: Applied general equilibrium Carbon policy Directed technological change Endogenous growth Research and Development;

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    Cited by:
    1. Anping Chen & Nicolaas Groenewold, 2013. "Regional Effects in China of an Emissions-Reduction Policy: Tax v. Subsidy," ERSA conference papers ersa13p1275, European Regional Science Association.
    2. Popp, David & Santen, Nidhi & Fisher-Vanden, Karen & Webster, Mort, 2013. "Technology variation vs. R&D uncertainty: What matters most for energy patent success?," Resource and Energy Economics, Elsevier, vol. 35(4), pages 505-533.
    3. Wei Jin, 2012. "Can Technological Innovation Help China Take on Its Climate Responsibility? A Computable General Equilibrium Analysis," CAMA Working Papers 2012-51, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    4. David Popp & Nidhi Santen & Karen Fisher-Vanden & Mort Webster, 2012. "Technology Variation vs. R&D Uncertainty: What Matters Most for Energy Patent Success?," NBER Working Papers 17792, National Bureau of Economic Research, Inc.
    5. Nemet, Gregory F., 2012. "Inter-technology knowledge spillovers for energy technologies," Energy Economics, Elsevier, vol. 34(5), pages 1259-1270.
    6. Zuzana KRISTKOVA, 2013. "Analysis of Private R&D Effects in a CGE Model with Capital Varieties: The Case of the Czech Republic," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 63(3), pages 262-287, July.

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