Induced Innovation, Inventors, and the Energy Transition

Eugenie Dugoua and Todd Gerarden

No 31714, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We study how individual inventors respond to incentives to work on “clean” electricity technologies. Using natural gas price variation, we estimate output and entry elasticities of inventors and measure the medium-term impacts of a price increase mirroring the social cost of carbon. We find that the induced clean innovation response primarily comes from existing clean inventors. New inventors are less responsive on the margin than their average contribution to clean energy patenting would indicate. Our findings highlight the potential importance of policies that increase the supply of clean inventors who are focused on mitigating climate change.

JEL-codes: O31 Q40 Q55 (search for similar items in EconPapers)
Date: 2023-10
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Related works:
Working Paper: Induced innovation, inventors and the energy transition (2023)
Working Paper: Induced Innovation, Inventors, and the Energy Transition (2023)
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