Global warming and technical change: Multiple steady-states and policy options

Bondarev A, Greiner A (2020)
China Economic Review 62: 101511.

Zeitschriftenaufsatz | Veröffentlicht | Englisch
 
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Autor*in
Bondarev, Anton; Greiner, AlfredUniBi
Abstract / Bemerkung
We develop an economic growth model that incorporates anthropogenic climate change and a publicly funded research sector that creates new technologies and simultaneously expands the productivities of existing technologies. Greenhouse gas emissions are affected by R&D activities both negatively, through the increase of output from productivity growth, and positively as new technologies are less polluting. We find that there may exist two different steady-states of the economy, depending on the amount of research spending: one with less new technologies being developed and the other with more technologies. Thus, a lock-in effect can arise that, however, can be overcome by raising R&D spending sufficiently such that the steady-state becomes unique. We derive the combinations of fiscal policy instruments for which that can be achieved and we study the implications for the economy and with respect to emissions. In particular, the double dividend hypothesis may hold under some specific conditions.
Stichworte
Greenhouse gases; Doubly-differentiated R&D; Double dividend; Fiscal; policy; Technology lock-in; Public spending
Erscheinungsjahr
2020
Zeitschriftentitel
China Economic Review
Band
62
Art.-Nr.
101511
ISSN
1043-951X
eISSN
1873-7781
Page URI
https://pub.uni-bielefeld.de/record/2946136

Zitieren

Bondarev A, Greiner A. Global warming and technical change: Multiple steady-states and policy options. China Economic Review. 2020;62: 101511.
Bondarev, A., & Greiner, A. (2020). Global warming and technical change: Multiple steady-states and policy options. China Economic Review, 62, 101511. doi:10.1016/j.chieco.2020.101511
Bondarev, A., and Greiner, A. (2020). Global warming and technical change: Multiple steady-states and policy options. China Economic Review 62:101511.
Bondarev, A., & Greiner, A., 2020. Global warming and technical change: Multiple steady-states and policy options. China Economic Review, 62: 101511.
A. Bondarev and A. Greiner, “Global warming and technical change: Multiple steady-states and policy options”, China Economic Review, vol. 62, 2020, : 101511.
Bondarev, A., Greiner, A.: Global warming and technical change: Multiple steady-states and policy options. China Economic Review. 62, : 101511 (2020).
Bondarev, Anton, and Greiner, Alfred. “Global warming and technical change: Multiple steady-states and policy options”. China Economic Review 62 (2020): 101511.

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