no code implementations • 19 Oct 2023 • Michael Barnett, William Brock, Lars Peter Hansen, Ruimeng Hu, Joseph Huang
We study the implications of model uncertainty in a climate-economics framework with three types of capital: "dirty" capital that produces carbon emissions when used for production, "clean" capital that generates no emissions but is initially less productive than dirty capital, and knowledge capital that increases with R\&D investment and leads to technological innovation in green sector productivity.
