The Optimal Climate Policy Portfolio when Knowledge Spills across Sectors

No 2988, CESifo Working Paper Series from CESifo

Abstract: This paper studies the implications for climate policy of the interactions between environmental and knowledge externalities. Using a numerical analysis performed with the hybrid integrated assessment model WITCH, extended to include mutual spillovers between the energy and the non-energy sector, we show that the combination between environmental and knowledge externalities provides a strong rationale for implementing a portfolio of policies for both emissions reduction and the internalisation of knowledge externalities. Moreover, we show that implementing technology policy as a substitute for stabilisation policy is likely to increase global emissions.

Keywords: technical change; climate change; development; innovation; spillovers (search for similar items in EconPapers)
JEL-codes: C72 H23 O31 O41 Q25 Q28 Q54 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (5)

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Working Paper: The Optimal Climate Policy Portfolio when Knowledge Spills Across Sectors (2010)
Working Paper: The Optimal Climate Policy Portfolio when Knowledge Spills Across Sectors (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_2988

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