FEEM seminar on “Directed Technical Change model with Clean and Dirty Capital-Embodied Technologies”
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This FEEM seminar, presented by James Lennox (FEEM), is dedicated to a Directed technical change model which actually distinguishes between zero and emissions-intensive technologies embodied in long-lived capital. Main results show that obsolescence costs generated by technological embodiment create inertia in a transition to clean growth while optimal policies involve higher and longer-lasting clean R&D subsidies than when technologies are disembodied.
Fondazione Eni Enrico Mattei