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Climate Agreements and Technology Policy

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Author Info
Golombek, Rolf () (The Ragnar Frisch Centre for Economic Research)
Hoel, Michael () (Dept. of Economics, University of Oslo)

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Abstract

We study climate policy when there are technology spillovers within and across countries, and the technology externalities within each country are corrected through a domestic subsidy of R&D investments. We compare the properties of international climate agreements when the inter-country externalities from R&D are not regulated through the climate agreement. With an international agreement controlling abatements directly through emission quotas, the equilibrium R&D subsidy is lower that the socially optimal subsidy.The equilibrium subsidy is even lower if the climate agreement does not specify emission levels directly, but instead imposes a common carbon tax.Social costs are higher under a tax agreement than under a quota agreement.Moreover, for a reasonable assumption on the abatement cost function, R&D investments and abatement levels are lower under a tax agreement than under a quota agreement. Total emissions may be higher or lower in a second-best optimal quota agreement than in the first-best optimum.

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Publisher Info
Paper provided by Oslo University, Department of Economics in its series Memorandum with number 11/2004.

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Length: 38 pages
Date of creation: 26 Oct 2004
Date of revision:
Handle: RePEc:hhs:osloec:2004_011

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Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway
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Fax: 22 85 50 35
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Web page: http://www.oekonomi.uio.no/indexe.html
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Related research
Keywords: Climate policy; international environmental agreements; R&D Policy; technology spillovers;

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Find related papers by JEL classification:
H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
O30 - Economic Development, Technological Change, and Growth - - Technological Change - - - General
Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Goulder, Lawrence H. & Mathai, Koshy, 2000. "Optimal CO2 Abatement in the Presence of Induced Technological Change," Journal of Environmental Economics and Management, Elsevier, vol. 39(1), pages 1-38, January. [Downloadable!] (restricted)
  2. Xepapadeas, A., 1995. "Induced technical change and international agreements under greenhouse warming," Resource and Energy Economics, Elsevier, vol. 17(1), pages 1-23, May. [Downloadable!] (restricted)
  3. Rasmussen, Tobias N., 2001. "CO2 abatement policy with learning-by-doing in renewable energy," Resource and Energy Economics, Elsevier, vol. 23(4), pages 297-325, October. [Downloadable!] (restricted)
  4. Michael Hoel, 1993. "Harmonization of carbon taxes in international climate agreements," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 3(3), pages 221-231, June. [Downloadable!] (restricted)
  5. Carlo Carraro & Barbara Buchner, 2006. "Economic and Environmental Effectiveness of a Technology-based Climate Protocol," Working Papers 2006_12Classification-JEL, University of Venice "Ca' Foscari", Department of Economics. [Downloadable!]
    Other versions:
  6. Hoel, Michael, 1992. "Carbon taxes : An international tax or harmonized domestic taxes?," European Economic Review, Elsevier, vol. 36(2-3), pages 400-406, April. [Downloadable!] (restricted)
  7. Carlo Carraro & Carmen Marchiori, 2003. "Endogenous Strategic Issue Linkage in International Negotiations," Working Papers 2003.40, Fondazione Eni Enrico Mattei. [Downloadable!]
  8. Cohen, Wesley M & Levinthal, Daniel A, 1989. "Innovation and Learning: The Two Faces of R&D," Economic Journal, Royal Economic Society, vol. 99(397), pages 569-96, September. [Downloadable!] (restricted)
  9. Slim Ben Youssef, 2003. "Transboundary Pollution, R&D Spillovers and International Trade," Working Papers 2003.39, Fondazione Eni Enrico Mattei. [Downloadable!]
    Other versions:
  10. Buonanno, Paolo & Carraro, Carlo & Galeotti, Marzio, 2003. "Endogenous induced technical change and the costs of Kyoto," Resource and Energy Economics, Elsevier, vol. 25(1), pages 11-34, February. [Downloadable!] (restricted)
  11. Rolf Golombek & Michael Hoel, 2003. "Climate Policy under Technology Spillovers," Working Papers 2003.38, Fondazione Eni Enrico Mattei. [Downloadable!]
    Other versions:
  12. Knut Einar Rosendahl, 2002. "Cost-effective environmental policy: Implications of induced technological change," Discussion Papers 314, Research Department of Statistics Norway. [Downloadable!]
  13. Loschel, Andreas, 2002. "Technological change in economic models of environmental policy: a survey," Ecological Economics, Elsevier, vol. 43(2-3), pages 105-126, December. [Downloadable!] (restricted)
    Other versions:
  14. Adam Jaffe & Richard Newell & Robert Stavins, 2002. "Environmental Policy and Technological Change," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 22(1), pages 41-70, June. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Alistair Ulph & David Ulph, 2007. "Climate change—environmental and technology policies in a strategic context," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 159-180, May. [Downloadable!] (restricted)
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