In the presence of strategic complementarities stemming from peer effects in demand or from technological spill-overs, propagation and amplification mechanisms increase the effectiveness of climate policies. This suggests that climate goals can be met with smaller policy interventions. However, if there are multiple equilibria, radical and more ambitious climate policies are needed to shift the economy from a high-emissions to a low-emissions path...
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INFORMATION
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2022/10/18
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Document de travail de recherche sur les politiques
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WPS10212
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1
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2022/10/18
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Disclosed
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Radical Climate Policies