Induced technological change in a multi-regional, multi-sectoral, integrated assessment model (WIAGEM): Impact assessment of climate policy strategies

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Induced technological change in a multi-regional, multi-sectoral, integrated assessment model (WIAGEM): Impact assessment of climate policy strategies. / Kemfert, Claudia.
In: Ecological Economics, Vol. 54, No. 2-3, 01.08.2005, p. 293-305.

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@article{950267938600497db11381f6f81cca17,
title = "Induced technological change in a multi-regional, multi-sectoral, integrated assessment model (WIAGEM): Impact assessment of climate policy strategies",
abstract = "This paper illustrates the representation of induced technological change in the multi-regional, multi-sectoral integrated assessment model WIAGEM. The main aim of the paper is to investigate quantitatively the economic impacts of climate policy measures due to the induced technological changes that are considered. Improved technological innovations are triggered by increased R&D expenditures that advance energy efficiency. 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 changes, emission targets are primarily reached by declines in production, resulting in overall welfare reductions. With the inclusion of induced technological changes, emission mitigations can be achieved with fewer production drawbacks. Technological spillover effects also lead to improved terms-of-trade effects.",
keywords = "Economics, Induced technological change, Multi-regional applied integrated assessment model, Technological spillover",
author = "Claudia Kemfert",
year = "2005",
month = aug,
day = "1",
doi = "10.1016/j.ecolecon.2004.12.031",
language = "English",
volume = "54",
pages = "293--305",
journal = "Ecological Economics",
issn = "0921-8009",
publisher = "Elsevier B.V.",
number = "2-3",

}

RIS

TY - JOUR

T1 - Induced technological change in a multi-regional, multi-sectoral, integrated assessment model (WIAGEM)

T2 - Impact assessment of climate policy strategies

AU - Kemfert, Claudia

PY - 2005/8/1

Y1 - 2005/8/1

N2 - This paper illustrates the representation of induced technological change in the multi-regional, multi-sectoral integrated assessment model WIAGEM. The main aim of the paper is to investigate quantitatively the economic impacts of climate policy measures due to the induced technological changes that are considered. Improved technological innovations are triggered by increased R&D expenditures that advance energy efficiency. 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 changes, emission targets are primarily reached by declines in production, resulting in overall welfare reductions. With the inclusion of induced technological changes, emission mitigations can be achieved with fewer production drawbacks. Technological spillover effects also lead to improved terms-of-trade effects.

AB - This paper illustrates the representation of induced technological change in the multi-regional, multi-sectoral integrated assessment model WIAGEM. The main aim of the paper is to investigate quantitatively the economic impacts of climate policy measures due to the induced technological changes that are considered. Improved technological innovations are triggered by increased R&D expenditures that advance energy efficiency. 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 changes, emission targets are primarily reached by declines in production, resulting in overall welfare reductions. With the inclusion of induced technological changes, emission mitigations can be achieved with fewer production drawbacks. Technological spillover effects also lead to improved terms-of-trade effects.

KW - Economics

KW - Induced technological change

KW - Multi-regional applied integrated assessment model

KW - Technological spillover

UR - http://www.scopus.com/inward/record.url?scp=22444446394&partnerID=8YFLogxK

UR - https://www.mendeley.com/catalogue/5eeec4ef-209e-3d5b-9df7-cf6b5c8719fc/

U2 - 10.1016/j.ecolecon.2004.12.031

DO - 10.1016/j.ecolecon.2004.12.031

M3 - Journal articles

AN - SCOPUS:22444446394

VL - 54

SP - 293

EP - 305

JO - Ecological Economics

JF - Ecological Economics

SN - 0921-8009

IS - 2-3

ER -