As part of the Kyoto Protocol, many countries have committed themselves tosubstantially reduce the emission of greenhouse gases within a politically imposed timeconstraint. Investment subsidies can be an important instrument to stimulate the adoption ofenergy-saving technologies to achieve...

We develop an overlapping-generations economy to analyze the effects of financier patience on the investment horizon choice of a distribution of heterogeneous entrepreneurs. The purpose of our enquiry is to show that while the lack of financier patience might affect the supply of investable...