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Cited by 166Climate Change Policy and EconomicsEnvironmental Sustainability in BusinessEnergy, Environment, Economic Growth

The DOI matches its Crossref record; 55 of the 55 references it cites were found in a registry or an index.

Adopt or Innovate: Understanding Technological Responses to Cap-and-Trade

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Calel, Raphael·2020·American Economic Journal: Economic Policy
DOI 10.1257/pol.20180135
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Abstract

One important motivation for creating cap-and-trade programs for carbon emissions is the expectation that they will stimulate much-needed low-carbon innovation. I construct a new panel of British firms to investigate this hypothesis, finding that the European carbon market has encouraged greater low-carbon patenting and R&D spending among regulated firms without necessarily driving short-term reductions in carbon intensity of output. This stands in contrast to past cap-and-trade programs, which have primarily spurred adoption of existing pollution control technologies, with little effect on innovation. I discuss how to reconcile these contrasting findings and implications for the future of carbon markets. (JEL D22, O32, O34, Q52, Q54, Q58)

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  1. Aghion Philippe, 2009, Bruegel Policy Contribution (12), 1
  2. Cochran William G, 1973, Sankhya- : The Indian Journal of Statistics, Series A, 35, 417
  3. Jaraitė Corrado Di, 2016, Energy Journal, 37, 1
  4. 10.1257/000282802760015658 · DOI · Paper page

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Metadata

Authors
Calel, R.
Affiliations
Georgetown University (US)
Corresponding author
Calel, Raphael
ORCID
Calel, Raphael
Venue
American Economic Journal: Economic Policy
Publisher
American Economic Association
Published
2020-08-01
Volume
12
Issue
3
Pages
170-201
ISSN
  • 1945-7731 (ISSN-L)
  • 1945-774X
DOI
10.1257/pol.20180135
OpenAlex
W3083461837
Cited by
166
References
55
Citations by year
2026: 14 · 2025: 41 · 2024: 36 · 2023: 28 · 2022: 17 · 2021: 17 · 2020: 7
FWCI
10.36
Type
journal article
Language
en
Open access
Locations
  • American Economic Journal Economic Policy (publishedVersion)
  • SSRN Electronic Journal (publishedVersion)
  • London School of Economics and Political Science Theses Online (London School of Economics and Political Science) (submittedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
Funders
Economic and Social Research Council (ES/K006576/1, ES/R009708/1)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Climate Change Policy and Economics
  • Social Sciences › Business, Management and Accounting › Marketing › Environmental Sustainability in Business
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Energy, Environment, Economic Growth
Keywords
emissions trading, CO2 emissions, low-carbon innovation, patenting, R&D investment, carbon intensity, EU Emissions Trading System, UK firms

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