Taxation, growth, and resource extraction: A general equilibrium approach
This 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.
(This abstract was borrowed from another version of this item.)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.