G2TT
来源类型Discussion paper
规范类型论文
来源IDDP8660
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
URLhttps://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.
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