Taxation, growth, and resource extraction: A general equilibrium approach
AbstractThis paper deals with taxation in a framework which is a synthesis between the neoclassical growth model, augmented by a (separable) sector of resource-extracting firms, and the Fisherian intertemporal general equilibrium model: market forces bring about the neoclassical optimal growth path under laissez faire, but taxation may result in welfare-reducing distortions. The taxes studied comprise ad valorem, capital-income, and capital-gains taxes, where the tax revenue is assumed to be redistributed in a lump-sum fashion. Particular attention is paid to the second-best problem of whether capital-income taxation should be supplemented by capitalgains taxation.
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Bibliographic InfoArticle provided by Elsevier in its journal European Economic Review.
Volume (Year): 19 (1982)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/eer
Other versions of this item:
- Sinn, Hans-Werner, 1982. "Taxation, growth, and resource extraction. A general equilibrium approach," Munich Reprints in Economics 19908, University of Munich, Department of Economics.
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