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

Author

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

Abstract

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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Suggested Citation

  • de Melo, Jaime & Stanton, Julie & Tarr, David, 1989. "Revenue-raising taxes: General equilibrium evaluation of alternative taxation in U.S. petroleum industries," Journal of Policy Modeling, Elsevier, vol. 11(3), pages 425-449.
    • Handle: RePEc:eee:jpolmo:v:11:y:1989:i:3:p:425-449
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    Cited by:

    1. Vadim Ponkratov & Andrey Pozdnyaev & Nikolay Kuznetsov, 2018. "Evaluating the Impact of Russian Excise Duty on Oil Products on the Development of Oil Refining and Oil Industry," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 414-425.
    2. Jaime de Melo & David Tarr, 2015. "VERs under imperfect competition and foreign direct investment: A case study of the US–Japan auto VER," World Scientific Book Chapters, in: Modeling Developing Countries' Policies in General Equilibrium, chapter 22, pages 461-483, World Scientific Publishing Co. Pte. Ltd..
    3. repec:ers:journl:v:volumexxi:y:2018:i:issue4:p:414-425 is not listed on IDEAS

    More about this item

    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • F00 - International Economics - - General - - - General
    • F01 - International Economics - - General - - - Global Outlook
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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