Journal article
To build or not to build? capital stocks and climate policy∗
- Abstract:
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We investigate (i) the impact of emission reduction policy on investment in polluting infrastructure, such as coal-fired power stations and (ii) optimal subsidies for “clean” alternatives with “learning” spillovers. We build a general theoretical model, and embed it in a fully calibrated integrated assessment model. Because emission reduction policy reduces investments in polluting assets, short-term emission reductions are enhanced—our “irreversibility effect”. Thus, “stranded assets” in thi...
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- Publication status:
- Published
- Peer review status:
- Peer reviewed
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- Files:
-
-
(Accepted manuscript, pdf, 783.5KB)
-
- Publisher copy:
- 10.1016/j.jeem.2019.05.001
Authors
Bibliographic Details
- Publisher:
- Elsevier Publisher's website
- Journal:
- Journal of Environmental Economics and Management Journal website
- Volume:
- 100
- Issue:
- March 2020
- Article number:
- 102235
- Publication date:
- 2019-05-13
- Acceptance date:
- 2019-05-03
- DOI:
- ISSN:
-
0095-0696
Item Description
- Language:
- English
- Keywords:
- Pubs id:
-
pubs:997852
- UUID:
-
uuid:c6e55ca9-bbc5-4728-b961-ad418a389268
- Local pid:
- pubs:997852
- Source identifiers:
-
997852
- Deposit date:
- 2019-05-13
Terms of use
- Copyright holder:
- Elsevier
- Copyright date:
- 2019
- Rights statement:
- © 2019 Elsevier Inc. All rights reserved.
- Notes:
- This is the accepted manuscript version of the article. The final version is available from Elsevier at: https://doi.org/10.1016/j.jeem.2019.05.001
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