Learning by Doing vs Learning by Researching in a Model of Climate Change Policy Analysis
Many predictions and conclusions in climate change literature have been made on the basis of theoretical analyses and quantitative models that assume exogenous technological change. One may wonder if those policy prescriptions hold in the more realistic case of endogenously evolving technologies. In previous work we modified a popular integrated assessment model to allow for an explicit role of the stock of knowledge which accumulates through R&D investment. In our formulation knowledge affects the output production technology and the emission-output ratio. In this paper we make progress in our efforts aimed to model the process of technological change. In keeping with recent theories of endogenous growth, we specify two ways in which knowledge accumulates: via a deliberate, optimally selected R&D decision or via experience, giving rise to Learning by Doing. We simulate the model under the two versions of endogenous technical change and look at the dynamics of a number of relevant variables.
|Date of creation:||Jan 2003|
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- Paolo Buonanno & Carlo Carraro & Efrem Castelnuovo & Marzio Galeotti, 2001.
"Emission Trading Restrictions with Endogenous Technological Change,"
International Environmental Agreements- Politics, Law and Economics,
Springer, vol. 1(3), pages 379-395, July.
- Buonanno, Paolo & Carraro, Carlo & Castelnuovo, Efrem & Galeotti, Marzio, 2000. "Emission Trading Restrictions with Endogenous Technological Change," CEPR Discussion Papers 2514, C.E.P.R. Discussion Papers.
- Castelnuovo, Efrem & Galeotti, Marzio & Gambarelli, Gretel & Vergalli, Sergio, 2005.
"Learning-by-Doing vs. Learning by Researching in a model of climate change policy analysis,"
Elsevier, vol. 54(2-3), pages 261-276, August.
- Marzio Galeotti & Sergio Vergalli & Efrem Castelnuovo & Gretel Gambarelli, 2003. "Learning by Doing vs Learning by Researching in a Model of Climate Change Policy Analysis," Working Papers 2003.11, Fondazione Eni Enrico Mattei.
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