Innovation and Climate Change Policy
研究了气候变化政策是否促进环保技术创新的问题，发现更严格的排放上限会减少化石燃料使用规模，从而削弱改进化石燃料效率的激励，但对直接减排碳污染的技术有明确的正面影响。
This paper examines whether climate change policies will induce innovation in environmentally friendly technologies. The model demonstrates that a tighter emissions cap will reduce the scale of fossil fuel usage and that this will diminish incentives to improve fossil fuel efficiencies. In addition, such policies may stimulate the relative demand for innovations that improve the efficiency of alternative energy but carbon scarcity may diminish innovation incentives overall. Only for technologies that directly abate carbon pollution will there be an unambiguously positive impact on innovation. These results have implications for climate change targets and the design of climate change policy.