the new technology may turn out to generate a new pollution problem. R&D may therefore be optimally undertaken more than … once. Using and externding recent results from multi-stage optimal control theory, we provide a full characterization of … the optimal pollution and R&D policies. The optimal R&D program is strictly sequential and has an endogenous stopping …

develops technologies which reduce the cost of pollution abatement. The innovating firm can patent this innovation and use a … either a pollution tax or a marketable permit. However, the returns to the innovator from innovation are not the same under …

We study economic growth and pollution control in a model with endogenous rate and direction of technical change …. Economic growth (growth of real GDP) results from growth in the quantity and productivity of polluting intermediates. Pollution … can be controlled by reducing the pollution intensity of a given quantity through costly research (green innovation) and …