By Carlo Carraro, Gilbert E. Metcalf
Most folks might agree that it is smart to tax a firm that pollutes in a fashion that without delay displays the quantity of environmental and social harm it has performed. but in perform, such taxes are fraught with hassle and feature far-reaching implications. an organization dealing with a brand new tax may possibly lay off employees, for instance, exacerbating an unemployment challenge. This quantity specializes in such exterior concerns and examines intimately the trade-offs excited by designing rules to house environmental difficulties. Reflecting the extensive nature of the topic, the participants comprise major economists within the parts of public finance, business association, and alternate thought, in addition to environmental economists. Integrating either theoretical and empirical tools, they learn environmental coverage layout because it pertains to position judgements, compliance bills, administrative charges, results on study and improvement, and overseas issue routine. laying off gentle on an awfully complicated and critical subject, this assortment can be of curiosity to all these excited by designing potent environmental coverage.
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Extra resources for Behavioral and Distributional Effects of Environmental Policy (National Bureau of Economic Research Conference Report)
18) tˆL = − ⎜ L ⎟ Lˆ − ⎜ ⎟ ⎝ 1 − tL ⎠ ⎝ (1 − tL ) L ⎠ ⎝ 1 + tY ⎠ ⎥⎦ ⎢⎣ This is the change in tL necessary for government to balance the budget when changing tY . Next, we turn to the equations implied by production. As yet, we do not allow for a change in the tax on emissions. Thus any change in inputs or output comes entirely from an output eﬀect. Because of constant returns to scale in production, we have 26 Don Fullerton, Inkee Hong, and Gilbert E. Metcalf Yˆ = Zˆ = LˆY . (19) Also, the producer price is ﬁxed,13 and so cˆY = tˆY .
Metcalf. 1997. Environmental controls, scarcity rents, and pre-existing distortions. NBER Working Paper no. 6091. : National Bureau of Economic Research. ———. 1998. Environmental taxes and the double dividend hypothesis: Did you really expect something for nothing? Chicago-Kent Law Review 73 (1): 221–56. Goulder, Lawrence H. 1995. Environmental taxation and the “double dividend”: A reader’s guide. International Tax and Public Finance 2:157–83. , Ian Parry, and Dallas Burtraw. 1997. Revenue-raising vs.
We examine a range of abatement policies, including policies designed to avoid adverse consequences for the regulated industries. As discussed later, some of the adverse consequences can be avoided through industry-speciﬁc corporate tax cuts, direct transfers, and the government’s free provision (or “grandfathering”)3 of emissions permits to ﬁrms. A main purpose of our paper is to assess the eﬃciency cost of avoiding adverse impacts through such policies. 4 The general equilibrium framework 1. Indeed, the industry-distribution impacts may be more important politically than the household-distribution impacts, since the stakes for each ﬁrm from these policies are high, while the impacts of abatement policies on households, although important in the aggregate, are fairly small for each individual household.
Behavioral and Distributional Effects of Environmental Policy (National Bureau of Economic Research Conference Report) by Carlo Carraro, Gilbert E. Metcalf