Kohler, J;
Grubb, M;
Popp, D;
Edenhofer, O;
(2006)
The Transition to Endogenous Technical Change in Climate-Economy Models: A Technical Overview to the Innovation Modeling Comparison Project.
The Energy Journal
, SI2006
(01)
pp. 17-56.
10.5547/ISSN0195-6574-EJ-VolSI2006-NoSI1-2.
Text
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Abstract
This paper assesses endogenous technical change (ETC) in climate-economy models, using the models in the Innovation Modeling Comparison Project (IMCP) as a representative cross-section. ETC is now a feature of most leading models. Following the new endogenous growth literature and the application of learning curves to the energy sector, there are two main concepts employed: knowledge capital and learning curves. The common insight is that technical change is driven by the development of knowledge capital and its characteristics of being partly non-rival and partly non-excludable. There are various different implementations of ETC. Recursive CGE models face particular difficulties in incorporating ETC and increasing returns. The main limitations of current models are: the lack of uncertainty analysis; the limited representation of the diffusion of technology; and the homogeneous nature of agents in the models including the lack of representation of institutional structures in the innovation process.
Type: | Article |
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Title: | The Transition to Endogenous Technical Change in Climate-Economy Models: A Technical Overview to the Innovation Modeling Comparison Project |
DOI: | 10.5547/ISSN0195-6574-EJ-VolSI2006-NoSI1-2 |
Publisher version: | https://doi.org/10.5547/ISSN0195-6574-EJ-VolSI2006... |
Language: | English |
Additional information: | This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions. |
Keywords: | Endogenous technological change, Climate-economy models, Model comparison, imcp |
UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources |
URI: | https://discovery.ucl.ac.uk/id/eprint/1471200 |
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