We study the welfare-theoretic consequences of diverging social and private time-preference rates and time-to-build for the transition to a low-carbon energy industry. We show that time-to-build, a prevalent characteristic of capital accumulation in the energy sector, amplifies the distortion...

We analyze an overlapping generations economy with financial frictions and accumulation of both physical and intangible capital. The key difference between them is that intangible capital cannot be used as collateral for borrowing. As intangibles become more important in production, financial...

I present a theoretical model where the economy endogenously adopts the technological ideas of a slowly evolving technological frontier, and show that the presence of a "technological gap" between unadopted ideas and current productivity can lead to multiple equilibria and therefore the...

Since the last two decades, the rise of environmental concerns has led the sector of chemistry to develop new practices and new products. In particular, new products and processes, based on biomass as renewable resources, have been developed. This is what we term the ?Doubly Green Chemistry?...

Whole system models for the GB electricity system suggest that distributed electricity storage has the potential to significantly reduce the system integration cost for future system scenarios. From a policy perspective, this poses the question why this value should not be realised within...