Resource title

Impact Assessment of Emissions Stabilization Scenarios with and without Induced Technological Change

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Resource description

The main aim of this paper is to investigate quantitatively the economic impacts of emissions stabilization scenarios with and without the inclusion of induced technological change (ITC). Improved technological innovations are triggered by increased R&D expenditures that advance energy efficiencies. Model results show that induced technological changes due to increased investment in R&D reduce compliance costs. Although R&D expenditures compete with other investment expenditures, we find that increased R&D expenditures improve energy efficiency which substantially lowers abatement costs. Without the inclusion of induced technological change, emissions targets are primarily reached by declines in production, resulting in overall welfare reductions. With the inclusion of induced technological changes, emissions mitigations can result in fewer production and GDP drawbacks.

Resource author

Claudia Kemfert, Truong Phuoc Truong

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Resource publish date

Resource language

eng

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text/html

Resource resource URL

http://hdl.handle.net/10419/18381

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Adapt according to the presented license agreement and reference the original author.