G2TT
来源类型FEEM working papers "Note di lavoro" series
规范类型论文
Uncertain R&D, Backstop Technology and GHGs Stabilization
Valentina Bosetti; Massimo Tavoni
发表日期2007
出处Climate Change and Sustainable Development
出版年2007
语种英语
摘要This paper analyses optimal investments in innovation when dealing with a stringent climate target and with the uncertain effectiveness of R&D. The innovation needed to achieve the deep cut in emissions is modelled by a backstop carbon-free technology whose cost depends on R&D investments. To better represent the process of technological progress, we assume that R&D effectiveness is uncertain. By means of a simple analytical model, we show how accounting for the uncertainty that characterizes technological advancement yields higher investments in innovation and lower policy costs. We then confirm the results via a numerical analysis performed with a stochastic version of WITCH, an energy-economy-climate model. The results stress the importance of a correct specification of the technological change process in economy-climate models. *** Suggested citation: Valentina Bosetti, Massimo Tavoni, Uncertain R&D, backstop technology and GHGs stabilization, Energy Economics, Volume 31, Supplement 1, 2009, Pages S18-S26, ISSN 0140-9883, http://dx.doi.org/10.1016/j.eneco.2008.03.002
特色分类O32,Q54,Q55
关键词Climate Change,Information and Uncertainty,Environmental Policy,Optimal R&D Investments
URLhttps://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/uncertain-r-d-backstop-technology-and-ghgs-stabilization/
来源智库Fondazione Eni Enrico Mattei (Italy)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/117426
推荐引用方式
GB/T 7714
Valentina Bosetti,Massimo Tavoni. Uncertain R&D, Backstop Technology and GHGs Stabilization. 2007.
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