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Forskningsartikel2019Vetenskapligt granskad

To Everything There Is a Season: Carbon Pricing, Research Subsidies, and the Transition to Fossil-Free Energy

Hart, Rob


We develop a climate policy model with directed technological change (DTC) in the energy sector. The model delivers both analytical and numerical results that give a clear understanding of the respective roles of research subsidies and emissions pricing. By contrast to existing models with DTC, ours is close in structure to recent integrated assessment models, leading to dramatically different results. Although clean-research subsidies are substantial initially, they subsequently decline whereas emissions taxes increase without bound. Furthermore, emissions taxes are far more important than research subsidies: in our baseline parameterization, a regulator unable to tax can only achieve 36% of potential benefits, whereas a regulator unable to subsidize can achieve 91% of potential benefits.


directed technological change; knowledge spillovers; energy; climate change

Publicerad i

Journal of the Association of Environmental and Resource Economists
2019, Volym: 6, nummer: 2, sidor: 135-175

    Globala målen

    SDG7 Säkerställa tillgång till ekonomiskt överkomlig, tillförlitlig, hållbar och modern energi för alla
    SDG13 Vidta omedelbara åtgärder för att bekämpa klimatförändringarna och dess konsekvenser

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