A comment on innovation with multiple equilibria and "The environment and directed technical change"

Anthony Wiskich

Energy Economics, 2021, vol. 94, issue C

Abstract: The framework used to endogenise technology growth by Acemoglu et al. (2012) can exhibit increasing returns to research and hence multiple equilibria, including an unstable interior equilibrium. This paper discusses several selection methods of determining which equilibrium applies. Alternative methods can produce substantially different results when the elasticity of substitution between clean and dirty inputs is high. (JEL O33, O44, Q54, Q56, Q58).

Keywords: Climate change; Directed technical change; Innovation policy (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:94:y:2021:i:c:s0140988320304175

DOI: 10.1016/j.eneco.2020.105077

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