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Working paper

Technological Change, Energy, Environment and Economic Growth in Japan

USAEE Research paper series. USAEE Research paper series. United States Association for Energy Economics, 2018. No. 18-370.
Besstremyannaya G., Dasher R., Golovan S.
A considerable amount of research has shown that carbon tax combined with research subsidy may be regarded as optimal policy for diffusing low carbon technologies. The paper exploits the macro economic approach of the endogenous growth models with technologic al change for a comparative assessment of these policy measures on the economic growth in the US and Japan in the medium and the long run. The results of our estimates reveal several important di erences across the Japanese and US energy firms: lower elasticity of innovation production function in R&D expenditure, lower probability of a radical innovation, and larger advances of dirty technologies in Japan. This may explain our quantitative ndings of stronger reliance on carbon tax in Japan relative to the US.