dc.contributor.author | Heggedal, Tom-Reiel | |
dc.contributor.author | Jacobsen, Karl | |
dc.date.accessioned | 2011-11-07T09:57:44Z | |
dc.date.available | 2011-11-07T09:57:44Z | |
dc.date.issued | 2008 | |
dc.identifier.issn | 1892-753x | |
dc.identifier.uri | http://hdl.handle.net/11250/180633 | |
dc.description.abstract | Abstract:
This paper studies the timing of subsidies for environmental research and development (R&D) and how innovation policy is influenced by the costs of emissions. We use a dynamic computable general equilibrium (CGE) model with both general R&D and specific environmental R&D. We find two results that are important when subsidizing environmental R&D in order to target inefficiencies in the research markets. Firstly, the welfare gain from subsidies is larger when the costs of emissions are higher. This is because a high carbon tax increases the social (efficient) investment in environmental R&D, in excess of the private investment in R&D. Secondly, the welfare gain is greater when there is a falling time profile of the rate of subsidies for environmental R&D, rather than a constant or increasing profile. The reason is that the innovation externalities are larger in early periods.
Keywords: Applied general equilibrium, endogenous growth, research and development, carbon emissions. | no_NO |
dc.description.sponsorship | Financial support from the Norwegian Research Council programs SAMSTEMT and RENERGI. | no_NO |
dc.language.iso | eng | no_NO |
dc.publisher | Statistics Norway, Research Department | no_NO |
dc.relation.ispartofseries | Discussion Papers;No. 536 | |
dc.subject | Carbon emissions | no_NO |
dc.subject | Endogenous growth | no_NO |
dc.subject | Computable general equilibrium (CGE-model) | no_NO |
dc.subject | JEL classification: E62 | no_NO |
dc.subject | JEL classification: H31 | no_NO |
dc.subject | JEL classification: O38 | no_NO |
dc.subject | JEL classification: Q55 | no_NO |
dc.subject | Emissions to air | |
dc.title | Timing of innovation policies when carbon emissions are restricted : an applied general equilibrium analysis | no_NO |
dc.type | Working paper | no_NO |
dc.subject.nsi | VDP::Social science: 200::Economics: 210::Economics: 212 | no_NO |
dc.source.pagenumber | 32 s. | no_NO |