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DTEND;TZID=Europe/London:20190211T140000
UID:https://www.lse.ac.uk/granthaminstitute/?post_type=event&p=44193
DTSTAMP;TZID=Europe/London:20240329T044327Z
LOCATION:Fawcett House (Formerly Tower 2)\, 9.04\, LSE
DESCRIPTION:Raphael Calel will be discussing his paper Adopt or Innovate: Understanding the technological responses to cap-and-trade.
Abstract
Environmental regulations have consistently been found to spur innovation in `clean' technologies\, with one significant exception. Past cap-and-trade programs have encouraged adoption of existing pollution control technologies but had little effect on innovation of new technologies. Yet one important motivation for new cap-and-trade programs for carbon emissions is that they will stimulate much needed low-carbon innovation. I investigate firms' responses to the European carbon market---the world's largest cap-and-trade program. Using a newly constructed panel of British companies I show that\, contrary to past cap-and-trade programs\, European carbon trading appears to have encouraged innovation rather than adoption. I discuss how to reconcile these contrasting findings and implications for the future of carbon markets.
URL;VALUE=URI:https://www.lse.ac.uk/granthaminstitute/events/adopt-or-innovate-understanding-the-technological-responses-to-cap-and-trade-raphael-calel/
SUMMARY:Adopt or Innovate: Understanding the technological responses to cap-and-trade | Raphael Calel
DTSTART;TZID=Europe/London:20190211T123000
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