McDonald, Stuart; Poyago-Theotoky, Joanna - Fondazione ENI Enrico Mattei (FEEM) - 2014
) in the presence of R&D spillovers. We show that the size and effectiveness of the optimal emissions tax depends on the … type of the R&D spillover: input or output spillover. In the case of R&D input spillovers (where only knowledge spillovers … are accounted for), the optimal emissions tax required to stimulate R&D is always higher than when there is an R&D output …