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Impact assessment of emissions stabilization scenarios with and without induced technological change

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  • Kemfert, Claudia
  • Truong, Truong

Abstract

The main aim of this paper is to investigate quantitatively the economic impacts of emissions stabilization scenarios with and without the inclusion of induced technological change (ITC). Improved technological innovations are triggered by increased R&D expenditures that advance energy efficiencies. Model results show that induced technological changes due to increased investment in R&D reduce compliance costs. Although R&D expenditures compete with other investment expenditures, we find that increased R&D expenditures improve energy efficiency which substantially lowers abatement costs. Without the inclusion of induced technological change, emissions targets are primarily reached by declines in production, resulting in overall welfare reductions. With the inclusion of induced technological changes, emissions mitigations can result in fewer production and GDP drawbacks.

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Bibliographic Info

Article provided by Elsevier in its journal Energy Policy.

Volume (Year): 35 (2007)
Issue (Month): 11 (November)
Pages: 5337-5345

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Handle: RePEc:eee:enepol:v:35:y:2007:i:11:p:5337-5345

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  7. Claudia Kemfert, 2004. "Induced Technological Change in a Multi-regional, Multi-sectoral Integrated Assessment Model (WIAGEM): Impact Assessment of Climate Policy Strategies," Discussion Papers of DIW Berlin 435, DIW Berlin, German Institute for Economic Research.
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Cited by:
  1. Okay, Nesrin & Akman, Ugur, 2009. "Analysis of ESCO Activities Using Country Indicators," MPRA Paper 17012, University Library of Munich, Germany.
  2. Peterson, Everett B. & Schleich, Joachim & Duscha, Vicki, 2011. "Environmental and economic effects of the Copenhagen pledges and more ambitious emission reduction targets," Energy Policy, Elsevier, vol. 39(6), pages 3697-3708, June.

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