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• W2074484039 abstract "We study the welfare-theoretic consequences of diverging social and private time-preference rates and time-to-build for the transition to a low-carbon energy industry. We show that time-to-build, a prevalent characteristic of capital accumulation in the energy sector, amplifies the distortion induced by the split discount rates. Thus, these two characteristics create in a mutually reinforcing way less favorable circumstances for the introduction of new clean energy technologies as compared to the social optimum, even if welfare losses from emissions are internalized. We discuss resulting policy implications with particular emphasis on the energy sector." @default.
• W2074484039 created "2016-06-24" @default.
• W2074484039 creator A5023043745 @default.
• W2074484039 creator A5068441375 @default.
• W2074484039 date "2010-11-18" @default.
• W2074484039 modified "2023-09-26" @default.
• W2074484039 title "Distorted Time Preferences and Time-to-Build in the Transition to a Low-Carbon Energy Industry" @default.
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• W2074484039 hasPublicationYear "2010" @default.
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