How Large Are the Welfare Gains from Technological Innovation Induced by Environmental Policies?

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dc.creatorParry, Ian W.H.
dc.creatorPizer, William A.
dc.creatorFischer, Carolyn
dc.date2017-04-01T17:36:39Z
dc.date.accessioned2026-07-09T02:59:18Z
dc.descriptionThis paper examines whether the welfare gains from technological innovation that reduces future abatement costs are larger or smaller than the "Pigouvian" welfare gains from optimal pollution control. The relative welfare gains from innovation depend on three key factors - the initially optimal level of abatement, the speed at which innovation reduces future abatement costs, and the discount rate. We calculate the welfare gains from innovation under a variety of different scenarios. Mostly they are less than the Pigouvian welfare gains. To be greater, innovation must reduce abatement costs substantially and quickly and the initially optimal abatement level must be fairly modest.
dc.identifierdoi:10.22004/ag.econ.10621
dc.identifierhttps://ageconsearch.umn.edu/record/10621/files/dp020057.pdf
dc.identifierhttp://ageconsearch.umn.edu/record/10621
dc.identifier.urihttp://hdl.handle.net/123456789/524293
dc.languageeng
dc.publisher
dc.sourcehttp://ageconsearch.umn.edu/record/10621
dc.titleHow Large Are the Welfare Gains from Technological Innovation Induced by Environmental Policies?
dc.typeText

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