Directed technical change and economic growth effects of environmental policy
构建了一个熊彼特增长模型，研究环境政策如何通过影响技术变化方向来影响经济增长，发现收紧环境政策会减少经济增长，但影响高度非线性，实际政策收紧对增长影响很小。
A Schumpeterian growth model is developed to investigate how environmental policy affects economic growth, when environmental policy also affects the direction of technical change. The model is designed to match several stylized facts to ensure its empirical relevance. It is shown analytically that a tightening of the environmental policy directs research efforts toward pollution abatement technologies and away from production technologies. Hence, economic growth is reduced unambiguously. However, the effect is highly non-linear. At first, a tighter environmental policy has a small impact on economic growth. Yet, the growth effects become substantial if the environmental policy is tightened sufficiently. Nonetheless, the economic growth rate is barely affected by a realistic tightening of the environmental policy. These model predictions are consistent with empirical observations for the OECD.