Green Technology Adoption and the Business Cycle

Preprint, Research English OPEN
Bourgeon, Jean-Marc; Hovsepian, Margot;
  • Publisher: Munich: Center for Economic Studies and Ifo Institute (CESifo)
  • Subject: JEL : O - Economic Development, Innovation, Technological Change, and Growth/O.O3 - Innovation • Research and Development • Technological Change • Intellectual Property Rights | E30 | JEL : E - Macroeconomics and Monetary Economics/E.E3 - Prices, Business Fluctuations, and Cycles | uncertainty | sustainability | O30 | Q50 | O44 | [ SHS.ECO ] Humanities and Social Sciences/Economies and finances | JEL : O - Economic Development, Innovation, Technological Change, and Growth/O.O4 - Economic Growth and Aggregate Productivity/O.O4.O44 - Environment and Growth | growth | JEL : Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q5 - Environmental Economics
    • ddc: ddc:330

We analyze the adoption of green technology in a dynamic economy affected by random shocks where demand spillovers are the main driver of technological improvements. Firms' beliefs and consumers' anticipations drive the path of the economy. We derive the optimal policy ... View more
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