Environmental policy and directed technological change: evidence from the European carbon maket

Raphael Calel and Antoine Dechezlepr�tre
Authors registered in the RePEc Author Service: Antoine Dechezleprêtre

No 75, GRI Working Papers from Grantham Research Institute on Climate Change and the Environment

Abstract: This paper investigates the impact of the EU Emissions Trading Scheme (EU ETS) on technological change. We exploit installations-level inclusion criteria to estimate the impact of the EU ETS on firms patenting. We ?nd that the EU ETS has increased low-carbon innovation among regulated firms by as much as 10%, while not crowding out patenting for other technologies. We also ?nd evidence that the EU ETS has not impacted patenting beyond the set of regulated companies. These results imply that the EU ETS accounts for nearly a 1% increase in European lowcarbon patenting compared to a counterfactual scenario.

Date: 2012-03
New Economics Papers: this item is included in nep-ene, nep-env, nep-eur and nep-ino
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Citations: View citations in EconPapers (29)

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Related works:
Journal Article: Environmental Policy and Directed Technological Change: Evidence from the European Carbon Market (2016)
Working Paper: Environmental policy and directed technological change: evidence from the European carbon market (2016)
Working Paper: Environmental policy and directed technological change: evidence from the European carbon market (2013)
Working Paper: Environmental Policy and Directed Technological Change: Evidence from the European carbon market (2012)
Working Paper: Environmental Policy and Directed Technological Change: Evidence from the European carbon market (2012)
Working Paper: Environmental Policy and Directed Technological Change: Evidence from the European Carbon Market (2012)
Working Paper: Environmental Policy and Directed Technological Change: Evidence from the European Carbon Market (2012)
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