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Transition to clean technology

In: Combating Climate Change: A CEPR Collection

Author

Listed:
  • Acemoglu, Daron
  • Akcigit, Ufuk
  • Hanley, Douglas
  • Kerr, William

Abstract

We develop an endogenous growth model in which clean and dirty technologies compete in production. Research can be directed to either technology. If dirty technologies are more advanced, the transition to clean technology can be difficult. Carbon taxes and research subsidies may encourage production and innovation in clean technologies, though the transition will typically be slow. We estimate the model using microdata from the US energy sector. We then characterize the optimal policy path that heavily relies on both subsidies and taxes. Finally, we evaluate various alternative policies. Relying only on carbon taxes or delaying intervention has significant welfare costs.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Acemoglu, Daron & Akcigit, Ufuk & Hanley, Douglas & Kerr, William, 2021. "Transition to clean technology," CEPR Press Book Chapters, in: Weder di Mauro, Beatrice (ed.), Combating Climate Change: A CEPR Collection, edition 1, volume 1, chapter 11, Centre for Economic Policy Research.
    • Handle: RePEc:cpr:ebchap:p347-11
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    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools

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