Adopt or Innovate: Understanding technological responses to cap-and-trade

Principal Investigator(s):  View help for Principal Investigator(s) Raphael Calel, Georgetown University

Version:  View help for Version V1

Name File Type Size Last Modified
0-README.txt text/plain 10.6 KB 01/08/2020 11:34:AM
1-Construct_master_dataset_Secure_Lab_edit.do text/x-stata-syntax 56 KB 12/12/2019 05:36:PM
10-Construct_4digit_matching_dataset_Secure_Lab_edit.do text/x-stata-syntax 19.5 KB 12/12/2019 10:17:AM
11-Matching_4digit_Secure_Lab_edit.R text/x-r-syntax 41.3 KB 10/29/2019 09:53:AM
12-Construct_matched_data_set_4digit_Secure_Lab_edit.do text/x-stata-syntax 16.8 KB 10/29/2019 09:54:AM
13-Calipers_4digit_Secure_Lab_edit.R text/x-r-syntax 38.4 KB 10/29/2019 09:55:AM
14-Analysis_4digit_Secure_Lab_edit.R text/x-r-syntax 15.5 KB 12/12/2019 11:43:AM
15-Figure1.R text/x-r-syntax 11.4 KB 01/08/2020 08:28:AM
16-Figure3.R text/x-r-syntax 10 KB 12/12/2019 02:30:PM
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Project Citation: 

Calel, Raphael. Adopt or Innovate: Understanding technological responses to cap-and-trade. Nashville, TN: American Economic Association [publisher], 2022. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2020-07-23. https://doi.org/10.3886/E111981V1

Project Description

Summary:  View help for Summary One important motivation for creating cap-and-trade programs for carbon emissions is the expectation that they will stimulate much-needed low-carbon innovation. I construct a new panel of British firms to investigate this hypothesis, finding that the European carbon market has encouraged greater low-carbon patenting and R&D spending among regulated firms, without necessarily driving short-term reductions in carbon intensity of output. This stands in contrast to past cap-and-trade programs, which have primarily spurred adoption of existing pollution control technologies, with little effect on innovation. I discuss how to reconcile these contrasting findings and implications for the future of carbon markets.


Scope of Project

JEL Classification:  View help for JEL Classification
      O30 General
      Q55 Technological Innovation
      Q58 Government Policy
      Q58
Geographic Coverage:  View help for Geographic Coverage United Kingdom
Time Period(s):  View help for Time Period(s) 2000 – 2012

Methodology

Data Source:  View help for Data Source
UK Office of National Statistics
Unit(s) of Observation:  View help for Unit(s) of Observation Firms

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Published Versions

V1 [2020-07-23]

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