Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/108817
Authors: 
Daubanes, Julien
Lasserre, Pierre
Year of Publication: 
2015
Series/Report no.: 
CESifo Working Paper 5270
Abstract: 
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.
Subjects: 
optimum commodity taxation
inverse elasticity rule
non-renewable resources
Hotelling resource
supply elasticity
demand elasticity
capital income taxation
JEL: 
Q31
Q38
H21
Document Type: 
Working Paper

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