NDLI: A Comment on Innovation in 'The Environment and Directed Technical Change'

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A Comment on Innovation in 'The Environment and Directed Technical Change'

Content Provider	Scilit
Author	Wiskich, Anthony
Copyright Year	2019
Description	Journal: SSRN Electronic Journal The framework used to endogenise technology growth by Acemoglu, Aghion, Bursztyn, and Hemous (2012), hereafter AABH, allows the existence of unstable equilibria and does not provide a rationale for specifying which equilibrium should apply when more than one exists. This paper: (i) suggests a rationale for choosing one corner solution used in AABH that constitutes a lower bound for the subsidy or tax required to direct clean research; (ii) argues against use of the other corner solution; and (iii) provides an alternative equilibrium that constitutes an upper bound to the policy required. The alternative methods can produce substantially different results when the elasticity of substitution between clean and dirty inputs is high.
Related Links	https://cama.crawford.anu.edu.au/sites/default/files/publication/cama_crawford_anu_edu_au/2019-12/71_2019_wiskich.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3458738
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3458738
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2019-09-24
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Agricultural Economics Climate Change Directed Technical Change Innovation Policy
Content Type	Text
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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