Optimum Commodity Taxation with a Non-Renewable Resource

Arbeitspapier

Under standard assumptions, optimum commodity taxation (OCT) should target non-renewable resources (NRRs) in priority. NRRs should be taxed at a higher rate than otherwise-identical conventional commodities. NRR substitutes and complements should receive a particular tax treatment. When reserves are endogenous, OCT for NRRs distorts both developed reserves, which are reduced, and their depletion, which is slowed down. Reserves are a form of capital and royalties tax its income: our results contradict Chamley's conclusion that capital should not be taxed in the long run. In a NRR-importing economy, Ramsey taxes are further increased because they allow the capture of foreign rents.

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• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CESifo Working Paper ; No. 5270

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Nonrenewable Resources and Conservation: Demand and Supply; Prices ; Nonrenewable Resources and Conservation: Government Policy ; Taxation and Subsidies: Efficiency; Optimal Taxation
• Thema: optimum commodity taxation ; inverse elasticity rule ; non-renewable resources ; Hotelling resource ; supply elasticity ; demand elasticity ; capital income taxation

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Daubanes, Julien ; Lasserre, Pierre
• Ereignis: Veröffentlichung
• (wer): Center for Economic Studies and ifo Institute (CESifo)
• (wo): Munich
• (wann): 2015

Weitere Informationen

• Handle: http://hdl.handle.net/10419/108817