Modeling endogenous technological change for climate policy analysis

dc.contributor.author

Gillingham, K

dc.contributor.author

Newell, RG

dc.contributor.author

Pizer, WA

dc.date.accessioned

2013-04-18T16:46:25Z

dc.date.issued

2008-11-01

dc.description.abstract

The approach used to model technological change in a climate policy model is a critical determinant of its results in terms of the time path of CO2 prices and costs required to achieve various emission reduction goals. We provide an overview of the different approaches used in the literature, with an emphasis on recent developments regarding endogenous technological change, research and development, and learning. Detailed examination sheds light on the salient features of each approach, including strengths, limitations, and policy implications. Key issues include proper accounting for the opportunity costs of climate-related knowledge generation, treatment of knowledge spillovers and appropriability, and the empirical basis for parameterizing technological relationships. No single approach appears to dominate on all these dimensions, and different approaches may be preferred depending on the purpose of the analysis, be it positive or normative. © 2008 Elsevier B.V. All rights reserved.

dc.identifier.issn

0140-9883

dc.identifier.uri

https://hdl.handle.net/10161/6628

dc.publisher

Elsevier BV

dc.relation.ispartof

Energy Economics

dc.relation.isversionof

10.1016/j.eneco.2008.03.001

dc.title

Modeling endogenous technological change for climate policy analysis

dc.type

Journal article

duke.contributor.orcid

Newell, RG|0000-0002-3205-5562

duke.contributor.orcid

Pizer, WA|0000-0003-1498-1148

pubs.begin-page

2734

pubs.end-page

2753

pubs.issue

6

pubs.organisational-group

Duke

pubs.organisational-group

Duke Science & Society

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Economics

pubs.organisational-group

Environmental Sciences and Policy

pubs.organisational-group

Initiatives

pubs.organisational-group

Institutes and Provost's Academic Units

pubs.organisational-group

Nicholas School of the Environment

pubs.organisational-group

Sanford School of Public Policy

pubs.organisational-group

Trinity College of Arts & Sciences

pubs.publication-status

Published

pubs.volume

30

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