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reduces carbon emissions by inducing substitution away from coal. Yet, the natural gas boom discourages innovation directed at …
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dirty innovation and production; (ii) optimal policy involves both “carbon taxes” and research subsidies, so that excessive … the switch to clean innovation under laissez-faire when the two inputs are substitutes. Under reasonable parameter values …
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dirty innovation and production; (ii) optimal policy involves both “carbon taxes” and research subsidies, so that excessive … the switch to clean innovation under laissez-faire when the two inputs are substitutes. Under reasonable parameter values …
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