Abstract We develop an endogenous growth model in which long-run growth is driven by three engines: private abatement R&D, expanding-variety R&D, and capital accumulation. We show that an environmental tax activates private abatement by directing researchers from the variety R&D sector to the abatement R&D sector, which helps the economy avoid the environmental disaster. Our results also show that the effect of the environmental tax on long-run growth is uncertain, depending mainly on the relative productivity between the two R&D sectors. If the abatement R&D sector is sufficiently productive, increasing the environmental tax will enhance the balanced output growth rate and social welfare.

中文翻译：

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多重增长引擎下的环境税和经济增长

摘要 我们开发了一个内生增长模型，其中长期增长由三个引擎驱动：私人减排研发、扩大品种研发和资本积累。我们表明，环境税通过将研究人员从品种研发部门引导到减排研发部门来激活私人减排，这有助于经济避免环境灾难。我们的结果还表明，环境税对长期增长的影响是不确定的，主要取决于两个研发部门之间的相对生产力。如果减排研发部门有足够的生产力，提高环境税将提高产出增长率和社会福利的平衡。