全球智库信息集成服务系统(G2TT): DP8660 The Environment and Directed Technical Change

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP8660
	DP8660 The Environment and Directed Technical Change
	Philippe Aghion; Daron Acemoğlu; David Hemous; Leonardo Bursztyn
发表日期	2011-11-01
出版年	2011
语种	英语
摘要	This paper introduces endogenous and directed technical change in a growth model with environmental constraints. A unique final good is produced by combining inputs from two sectors. One of these sectors uses "dirty" machines and thus creates environmental degradation. Research can be directed to improving the technology of machines in either sector. We characterize dynamic tax policies that achieve sustainable growth or maximize intertemporal welfare. We show that: (i) in the case where the inputs are sufficiently substitutable, sustainable long-run growth can be achieved with temporary taxation of dirty innovation and production; (ii) optimal policy involves both .carbon taxes. and research subsidies, so that excessive use of carbon taxes is avoided; (iii) delay in intervention is costly: the sooner and the stronger is the policy response, the shorter is the slow growth transition phase; (iv) the use of an exhaustible resource in dirty input production helps the switch to clean innovation under laissez-faire when the two inputs are substitutes. Under reasonable parameter values and with sufficient substitutability between inputs, it is optimal to redirect technical change towards clean technologies immediately and optimal environmental regulation need not reduce long-run growth.
主题	International Macroeconomics
关键词	Environment Exhaustible resources Directed technological change Innovation
URL	https://cepr.org/publications/dp8660
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/537497
推荐引用方式 GB/T 7714	Philippe Aghion,Daron Acemoğlu,David Hemous,et al. DP8660 The Environment and Directed Technical Change. 2011.