Top-down computable general equilibrium models of energy–economy interactions have a limited representation of the electricity sector, typically using constant elasticities of substitution between generation types. Detailed bottom-up electricity models generally have embedded load duration...

Access to finance is a major barrier to clean innovation. We incorporate heterogeneous and endogenous financing costs in a directed technical change model and identify optimal climate mitigation policies. The presence of a financing experience effect pushes the policymaker to strengthen policies...

An integrated assessment model with endogenous technology is described. Optimal policy involves a clean transition using both carbon tax and clean research subsidy instruments. The paper explores each instrument’s relative performance when acting alone, helping to explain different outcomes in...

A review of the literature indicates a decreasing long-run elasticity of substitution between clean and dirty inputs as the share of clean inputs rises. In the power sector, which is the largest contributor to greenhouse gas emissions, integrating intermittent clean energy supply becomes...

This paper uses a benchmark climate model with endogenous technical change to consider the effects of three extensions on optimal policy under a clean transition. First, the movement of workers between non-energy and energy sectors lowers the cost of abatement by more than an order of magnitude,...

The framework used to endogenise technology growth by Acemoglu, Aghion, Bursztyn, and Hemous (2012), hereafter AABH, allows the existence of unstable equilibria and does not provide a rationale for specifying which equilibrium should apply when more than one exists. This paper: (i) suggests a...

Methane abatement and geoengineering have a short-lived effect on temperature compared with carbon abatement. Different optimal tax paths for these actions arise in a cost-benefit framework with an unknown temperature threshold where severe and irreversible climate impacts, called a tipping...

This paper describes an integrated assessment model with an unknown temperature threshold where severe and irreversible climate impacts, called a tipping point, occurs. The possibility of tipping leads to the following linked outcomes: a prolonged period of peak temperature; a rebound in...

Using data for the 2005-2017 period, we consider the effects of resource rents on the sub-components of Freedom House's measures of Political Rights and Civil Liberties. Higher resource rents lead to a deterioration in Political Pluralism and Participation, but do not affect other...