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General Equilibrium Effects of Green Technological Progress

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  • Ngo Van Long

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  • Frank Staehler

Abstract

This paper demonstrates that technological progress in production of renewable energy can influence the extraction path of fossil fuels indirectly by a change in the equilibrium interest rate. We show in a simple model that the indirect effect can be so strong that first-period or even aggregate extraction levels rise with technological progress. Cet article démontre que les progrès technologiques dans la production d'énergie renouvelable peut influencer la trajectoire de l'extraction de combustibles fossiles indirectement par un changement dans le taux d'intérêt d'équilibre. Nous montrons dans un modèle simple que l'effet indirect peut être si fort que les niveaux d'extraction augmentent avec le progrès technologique.

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Bibliographic Info

Paper provided by CIRANO in its series CIRANO Working Papers with number 2014s-16.

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Date of creation: 01 Feb 2014
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Handle: RePEc:cir:cirwor:2014s-16

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Keywords: Natural Resources; Technical progress; The Green Paradox; Ressources naturelles; Progrès technologique; Le Paradoxe Vert;

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References

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  1. Thomas Eichner & Rüdiger Pethig, 2009. "Carbon Leakage, the Green Paradox and Perfect Future Markets," CESifo Working Paper Series 2542, CESifo Group Munich.
  2. Sinn, Hans-Werner, 2008. "Public policies against global warming: A supply side approach," Munich Reprints in Economics 19638, University of Munich, Department of Economics.
  3. Quentin Grafton, R. & Kompas, Tom & Van Long, Ngo, 2012. "Substitution between biofuels and fossil fuels: Is there a green paradox?," Journal of Environmental Economics and Management, Elsevier, vol. 64(3), pages 328-341.
  4. Rick van der Ploeg & Cees Withagen, 2010. "Is There Really a Green Paradox?," OxCarre Working Papers 035, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
  5. Hoel, Michael, 1978. "Resource extraction, substitute production, and monopoly," Journal of Economic Theory, Elsevier, vol. 19(1), pages 28-37, October.
  6. Heinz Welsch & Frank Stähler, 1990. "On externalities related to the use of exhaustible resources," Journal of Economics, Springer, vol. 51(2), pages 177-195, June.
  7. Hoel, Michael, 1983. "Monopoly resource extractions under the presence of predetermined substitute production," Journal of Economic Theory, Elsevier, vol. 30(1), pages 201-212, June.
  8. Hoel, Michael, 2011. "The Green Paradox and Greenhouse Gas Reducing Investments," International Review of Environmental and Resource Economics, now publishers, vol. 5(4), pages 353-379, September.
  9. repec:dgr:uvatin:2010020 is not listed on IDEAS
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