environmental and welfare effects because they change the (equilibrium) carbon taxes. In our model, energy producers emit carbon … and welfare …

linked fields. Our analysis uses 1.8 million U.S. patents and their citation properties to map the innovation network and its … strength. Past innovation network structures are calculated using citation patterns across technology classes during 1975 … predictive power on future innovation after 1995. This pattern is consistent with the idea that when there is more past upstream …

characterize dynamic tax policies that achieve sustainable growth or maximize intertemporal welfare. We show that: (i) in the case … 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 …

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A … incumbents reduces growth and welfare. For example, a subsidy to incumbent R&D equivalent to 5% of GDP reduces welfare by about 1 … welfare) are possible if the continued operation of incumbents is taxed while at the same time R&D by incumbents and new …