Generational Welfare under a Climate‐Change Policy with Induced Innovation*
构建了一个包含代际异质性和政策诱导技术变化的气候经济模型，评估将气候政策收入用于能源研发对代际福利分配的影响，发现加速创新虽能改善总体福利，但会加剧代际不平等。
Abstract We develop a climate–economy model with generational heterogeneity and with the potential for climate‐policy‐induced technological change. We use the model to assess the distributional implications of climate policies that recycle generated revenues to finance research and development in the energy sector. We show that while the investments of climate‐policy rents that are used to accelerate innovation are likely to be welfare‐improving, as long as significant market failures exist, they are also likely to exacerbate the distributional inequities created across generations by climate‐change policies.