Acemoglu, Daron; Aghion, Philippe; Barrage, Lint; … - National Bureau of Economic Research - 2023
reduces carbon emissions by inducing substitution away from coal. Yet, the natural gas boom discourages innovation directed at … clean energy, which delays and can even permanently prevent the energy transition to zero carbon. We formalize and … social welfare under laissez-faire, whereas, combined with carbon taxes and more generous green subsidies, it could have …