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Cigarette Taxation and the Social Consequences of Smoking

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W. Kip Viscusi

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Abstract

This paper assesses the appropriate cigarette tax needed to address potential market failures. There is no evidence of inadequate risk decisions by smokers regarding their own welfare. Detailed calculations of the financial externalities of smoking indicate that the financial savings from premature mortality in terms of lower nursing home costs and retirement pensions exceed the higher medical care and life insurance costs generated. The costs of environmental tobacco smoke are highly uncertain, but of potentially substantial magnitude. Even with recognition of these costs, current cigarette taxes exceed the magnitude of the estimated net externalities.

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Publisher Info
Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 4891.

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Date of creation: Oct 1994
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Handle: RePEc:nbr:nberwo:4891

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  1. Sybren Cnossen, 2006. "Tobacco Taxation in the European Union," CPB Discussion Papers 67, CPB Netherlands Bureau for Economic Policy Analysis. [Downloadable!]
  2. Jonathan Gruber, 2001. "Tobacco at the Crossroads: The Past and Future of Smoking Regulation in the United States," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 193-212, Spring. [Downloadable!] (restricted)
  3. D. Cutler & R.G. Frank & C. King III & M.B. Rosenthal & E.R. Vigdor & A.M. Epstein & R.S. Hartman & J.P. Newhouse, 2000. "How Good a Deal Was the Tobacco Settlement?: Assessing Payments to Massachusetts," NBER Working Papers 7747, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  4. Ian Parry, 2003. "On the Costs of Excise Taxes and Income Taxes in the UK," Asia-Pacific Financial Markets, Springer, vol. 10(3), pages 281-304, May. [Downloadable!] (restricted)
    Other versions:
  5. Jeremy Bulow & Paul Klemperer, 1999. "The Tobacco Deal," HEW 9904002, EconWPA. [Downloadable!]
    Other versions:
  6. Michael Grossman, 2004. "Individual Behaviors and Substance Use: The Role of Price," NBER Working Papers 10948, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  7. David Madden, 2002. "Setting the Appropriate Tax on Cigarettes in Ireland," Working Papers 200225, School Of Economics, University College Dublin. [Downloadable!]
  8. Crutchfield, Steve & Kuchler, Fred & Variyam, Jayachandran N., 2001. "Valuing The Health Benefits Of Nutrition Labeling: A Case Study For Meat And Poultry Products," 2001 Annual meeting, August 5-8, Chicago, IL 20559, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  9. Gabriel Picone & Frank Sloan, 2001. "How Costly Are Smokers to Other People? Longitudinal Evidence on the Near Elderly," Forum for Health Economics & Policy, Berkeley Electronic Press, vol. 4. [Downloadable!]
  10. W. Kip Viscusi & Joni Hersch, 2009. "Tobacco Regulation through Litigation: The Master Settlement Agreement," NBER Working Papers 15422, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  11. Greg Coleman & Michael Grossman & Ted Joyce, 2002. "The Effect of Cigarette Excise Taxes on Smoking Before, During and After Pregnancy," NBER Working Papers 9245, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  12. Stephen Farr & Carol Horton Tremblay & Victor Tremblay, 2001. "The Welfare Effect of Advertising Restrictions in the U.S. Cigarette Industry," Review of Industrial Organization, Springer, vol. 18(2), pages 147-160, March. [Downloadable!] (restricted)
  13. Donald S. Kenkel & Robert R. Reed III & Ping Wang, 2002. "Rational Addiction, Peer Externalities and Long Run Effects of Public Policy," NBER Working Papers 9249, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  14. Parry, Ian, 2000. "Comparing the Marginal Excess Burden of Labor, Gasoline, Cigarette and Alcohol Taxes: An Application to the United Kingdom," Discussion Papers dp-00-33-rev, Resources For the Future. [Downloadable!]
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