Nicita, Lea; Carraro, Carlo; Massetti, Emanuele - 2009
that, as a consequence of climate policy, R&D is re-directed towards energy knowledge. Nonetheless, total R&D investments … substitutable, the overall contraction of the economic activity associated with a climate policy induces a decline in total R&D … investments. However, enhanced investments in energy R&D and in the energy sector are found not to crowd-out investments in non …