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After the Fukushima incident in 2011, many countries decided to revise their nuclear power programmes. Phasing out nuclear power would be costly, but the article by FEEM researchers Samuel Carrara, Enrica De Cian and Massimo Tavoni shows that these costs would be largely offset by the implicit subsidy to R&D in renewables, which suffer from innovation externalities.

Review of Environment, Energy and Economics – Re3