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Revenue-raising taxes: General equilibrium evaluation of alternative taxation in U.S. petroleum industries

  • de Melo, Jaime
  • Stanton, Julie
  • Tarr, David

This paper assesses recent proposals to increase taxes and tariffs in the energy sector to reduce the U.S. federal deficit. The paper estimates the welfare, fiscal and employment effects of the most common proposals. The estimates are derived from a twelve-sector general equilibrium model of the U.S. economy calibrated to 1984. A proposed 25 percent import tariff on crude oil would raise $7.3 billion in government revenue, while a 15 percent excise tax on petroleum products would raise $35 billion. Each dollar of government revenue would come at a loss of 25 cents in welfare in the first case, but at only a one cent loss in welfare in the second…

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File URL: http://www.sciencedirect.com/science/article/pii/0161-8938(89)90012-4
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Article provided by Elsevier in its journal Journal of Policy Modeling.

Volume (Year): 11 (1989)
Issue (Month): 3 ()
Pages: 425-449

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Handle: RePEc:eee:jpolmo:v:11:y:1989:i:3:p:425-449
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505735

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  1. Harris, Richard G. & Mackinnon, James G., 1979. "Computing optimal tax equilibria," Journal of Public Economics, Elsevier, vol. 11(2), pages 197-212, March.
  2. Jaime de Melo & David Tarr, 2015. "Welfare Costs Of U.S. Quotas In Textiles, Steel And Autos," World Scientific Book Chapters, in: Modeling Developing Countries' Policies in General Equilibrium, chapter 21, pages 451-459 World Scientific Publishing Co. Pte. Ltd..
  3. Dixit, Avinash, 1985. "Tax policy in open economies," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 1, chapter 6, pages 313-374 Elsevier.
  4. Alan S. Manne, 1976. "ETA: A Model for Energy Technology Assessment," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 379-406, Autumn.
  5. Vern Caddy, 1976. "Empirical Estimation of the Elasticity of Substitution : A Review," Centre of Policy Studies/IMPACT Centre Working Papers op-09, Victoria University, Centre of Policy Studies/IMPACT Centre.
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