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Optimal timing of environmental policy: Interaction between environmental taxes and innovation externalities

1st Person: Gerlagh, Reyer
Additional Persons: Kverndokk, Snorre; Rosendahl, Knut Einar
Type of Publication: Paper
Language: English
Published: Dep. of Economics, Univ. of Oslo 2006
Series: Memorandum
Keywords: Klimaschutz
Forschung
Technischer Fortschritt
Ökosteuer
Lernprozess
Second Best
Theorie
Climate protection
Research
Technological change
Learning process
Second best
Theory
Online: https://www.econstor.eu/bitstream/10419/63108/1/522106765.pdf
id
oai_econstor.eu_10419-63108
recordtype
econstor
institution
MPG
collection
ECONSTOR
title
Optimal timing of environmental policy: Interaction between environmental taxes and innovation externalities
spellingShingle
Optimal timing of environmental policy: Interaction between environmental taxes and innovation externalities
Klimaschutz
Forschung
Technischer Fortschritt
Ökosteuer
Lernprozess
Second Best
Theorie
Climate protection
Research
Technological change
Learning process
Second best
Theory
Gerlagh, Reyer
Memorandum
title_short
Optimal timing of environmental policy: Interaction between environmental taxes and innovation externalities
title_full
Optimal timing of environmental policy: Interaction between environmental taxes and innovation externalities
title_fullStr
Optimal timing of environmental policy: Interaction between environmental taxes and innovation externalities
title_full_unstemmed
Optimal timing of environmental policy: Interaction between environmental taxes and innovation externalities
title_sort
Optimal timing of environmental policy: Interaction between environmental taxes and innovation externalities
format
electronic Article
format_phy_str_mv
Paper
publisher
Dep. of Economics, Univ. of Oslo
publishDate
2006
language
English
topic
Klimaschutz
Forschung
Technischer Fortschritt
Ökosteuer
Lernprozess
Second Best
Theorie
Climate protection
Research
Technological change
Learning process
Second best
Theory
topic_facet
Climate protection
Research
Technological change
Learning process
Second best
Theory
author
Gerlagh, Reyer
author2
Kverndokk, Snorre
Rosendahl, Knut Einar
author2Str
Kverndokk, Snorre
Rosendahl, Knut Einar
description
This paper addresses the impact of endogenous technology through research and development (R&D) and learning by doing (LbD) on the timing of environmental policy. We develop two models, the first with technological change through R&D and the second with LbD. We study the interaction between environmental taxes and innovation externalities in a dynamic economy and prove policy equivalence between the second-best R&D and the LbD model. Our analysis shows that the difference found in the literature between optimal environmental policy in R&D and LbD models can partly be traced back to the set of policy instruments available, rather than being directly linked to the source of technological innovation. Arguments for early action in LbD models carry over to a second-best R&D setting. We show that environmental taxes should be high compared to the Pigouvian levels when an abatement industry is developing. We illustrate our analysis through numerical simulations on climate change policy.
url
https://www.econstor.eu/bitstream/10419/63108/1/522106765.pdf
series
Memorandum
seriesStr
Memorandum
Memorandum
series2
Memorandum
series2_facet
Memorandum
up_date
2019-12-07T03:50:15.646Z
_version_
1652231378665734146

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