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http://ssrn.com/abstract=1397076
 
 

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The Role of R&D and Technology Diffusion in Climate Change Mitigation: New Perspectives Using the Witch Model


Valentina Bosetti


Fondazione Eni Enrico Mattei (FEEM); Bocconi University; CMCC - Euro Mediterranean Centre for Climate Change

Carlo Carraro


Fondazione Eni Enrico Mattei (FEEM); Ca Foscari University of Venice - Department of Economics; Centre for Economic Policy Research (CEPR); CMCC - Euro Mediterranean Centre for Climate Change (Climate Policy Division); IPCC Working Group III

Romain Duval


Organization for Economic Co-Operation and Development (OECD)

Alessandra Sgobbi


Fondazione Eni Enrico Mattei (FEEM) ; Centro Euro-Mediterraneo per i Cambiamenti Climatici (CMCC)

Massimo Tavoni


Fondazione Eni Enrico Mattei (FEEM); Princeton University - Princeton Environmental Institute

April 30, 2009

FEEM Working Paper No. 14.2009
CMCC Research Paper No. 63

Abstract:     
This paper uses the WITCH model, a computable general equilibrium model with endogenous technological change, to explore the impact of various climate policies on energy technology choices and the costs of stabilising greenhouse gas concentrations. Current and future expected carbon prices appear to have powerful effects on R&D spending and clean technology diffusion. Their impact on stabilisation costs depends on the nature of R&D: R&D targeted at incremental energy efficiency improvements has only limited effects, but R&D focused on the emergence of major new low-carbon technologies could lower costs drastically if successful - especially in the non-electricity sector, where such low-carbon options are scarce today. With emissions coming from multiple sources, keeping a wide range of options available matters for stabilisation costs more than improving specific technologies. Due to international knowledge spillovers, stabilisation costs could be further reduced through a complementary, global R&D policy. However, a strong price signal is always required.

Number of Pages in PDF File: 42

Keywords: Climate policy, Energy R&D, Fund, Stabilisation costs

JEL Classification: H0, H2, H3, H4, O3, Q32, Q43, Q54

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Date posted: May 4, 2009 ; Last revised: August 28, 2012

Suggested Citation

Bosetti, Valentina and Carraro, Carlo and Duval, Romain and Sgobbi, Alessandra and Tavoni, Massimo, The Role of R&D and Technology Diffusion in Climate Change Mitigation: New Perspectives Using the Witch Model (April 30, 2009). FEEM Working Paper No. 14.2009; CMCC Research Paper No. 63. Available at SSRN: http://ssrn.com/abstract=1397076 or http://dx.doi.org/10.2139/ssrn.1397076

Contact Information

Valentina Bosetti (Contact Author)
Fondazione Eni Enrico Mattei (FEEM) ( email )
C.so Magenta 63
Milano, 20123
Italy
Bocconi University ( email )
Via Gobbi 5
Milan, 20136
Italy
CMCC - Euro Mediterranean Centre for Climate Change
Viale Gallipoli, 49
Lecce, 73100
Italy
Carlo Carraro
Fondazione Eni Enrico Mattei (FEEM) ( email )
Campo S. M. Formosa, Castello 5252
Venezia, 30122
Italy
+39 04 1271 1453 (Phone)
+39 04 1271 1461 (Fax)
Ca Foscari University of Venice - Department of Economics ( email )
Cannaregio 873
Venice, 30121
Italy
+39 04 1234 9166 (Phone)
+39 04 1234 9176 (Fax)
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
CMCC - Euro Mediterranean Centre for Climate Change (Climate Policy Division)
73100 Lecce
Italy
Intergovernmental Panel on Climate Change (IPCC)
A. van Leeuwenhoeklaan 9
P.O. Box 1
BA Bilthoven 3720
Netherlands
+31 30 274 4281 (Phone)
+31 30 274 4464 (Fax)
Romain Duval
Organization for Economic Co-Operation and Development (OECD) ( email )
2 rue Andre Pascal
Paris Cedex 16, 75775
France
Alessandra Sgobbi
Fondazione Eni Enrico Mattei (FEEM) ( email )
Corso Magenta 63
20123 Milan
Italy
Centro Euro-Mediterraneo per i Cambiamenti Climatici (CMCC) ( email )
Viale Gallipoli, 49
Lecce, 73100
Italy
Massimo Tavoni
Fondazione Eni Enrico Mattei (FEEM) ( email )
Corso Magenta 63
20123 Milan
Italy
Princeton University - Princeton Environmental Institute
22 Chambers Street
Princeton, NJ 08544
United States

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