Transition to Clean Technology
构建内生增长模型分析清洁与肮脏技术的竞争，利用美国能源部门微观数据估计模型，评估碳税和补贴等政策对转型的影响，发现仅依赖碳税或延迟干预会带来显著福利损失。
We develop an endogenous growth model in which clean and dirty technologies compete in production. Research can be directed to either technology. If dirty technologies are more advanced, the transition to clean technology can be difficult. Carbon taxes and research subsidies may encourage production and innovation in clean technologies, though the transition will typically be slow. We estimate the model using microdata from the US energy sector. We then characterize the optimal policy path that heavily relies on both subsidies and taxes. Finally, we evaluate various alternative policies. Relying only on carbon taxes or delaying intervention has significant welfare costs.