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The Taxation of Exhaustible Resources

Author

Listed:
  • Villamor Gamponia
  • Robert Mendelsohn

Abstract

The efficiency and equity effects of unit, yield, property, and windfall profits taxes upon nonrenewable resources are compared. The yield tax is the most efficient, and unit and property taxes are the least efficient of current taxes. If the base price of the windfall profits tax is set close to extraction cost, the windfall profits tax can be even more efficient than the yield tax. All the tax burdens fall primarily upon owners. In fact, with the property and windfall profits taxes, consumers can even be made better off.

Suggested Citation

  • Villamor Gamponia & Robert Mendelsohn, 1985. "The Taxation of Exhaustible Resources," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(1), pages 165-181.
    • Handle: RePEc:oup:qjecon:v:100:y:1985:i:1:p:165-181.
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    File URL: http://hdl.handle.net/10.2307/1885740
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    Citations

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    Cited by:

    1. Im, Jeong-Bin, 2002. "Optimal taxation of exhaustible resource under monopoly," Energy Economics, Elsevier, vol. 24(3), pages 183-197, May.
    2. Hansen, James & Gross, Isaac, 2018. "Commodity price volatility with endogenous natural resources," European Economic Review, Elsevier, vol. 101(C), pages 157-180.
    3. Zhong, Meirui & Liu, Qing & Zeng, Anqi & Huang, Jianbai, 2018. "An effects analysis of China's metal mineral resource tax reform: A heterogeneous dynamic multi-regional CGE appraisal," Resources Policy, Elsevier, vol. 58(C), pages 303-313.
    4. Julien Daubanes, 2008. "Fossil fuels supplied by oligopolies: On optimal taxation and rent capture," Economics Bulletin, AccessEcon, vol. 17(13), pages 1-11.
    5. Daubanes, J., 2007. "On the Optimal Taxation of an Exhaustible Resource Under Monopolistic Extraction," Other publications TiSEM a710e412-e84f-4b33-a0af-a, Tilburg University, School of Economics and Management.
    6. Rowse, John, 1997. "On ad valorem taxation of nonrenewable resource production," Resource and Energy Economics, Elsevier, vol. 19(3), pages 221-239, August.
    7. Daubanes, Julien, 2011. "Optimal taxation of a monopolistic extractor: Are subsidies necessary?," Energy Economics, Elsevier, vol. 33(3), pages 399-403, May.
    8. Hung, N.M. & Quyen, N.V., 2009. "Specific or ad valorem tax for an exhaustible resource?," Economics Letters, Elsevier, vol. 102(2), pages 132-134, February.
    9. Balthrop, Andrew T. & Schnier, Kurt E., 2016. "A regression discontinuity approach to measuring the effectiveness of oil and natural gas regulation to address the common-pool externality," Resource and Energy Economics, Elsevier, vol. 44(C), pages 118-138.
    10. Ulibarri, Carlos A., 1996. "Non-conventional fuel tax credits and the extraction R&D model," Resources Policy, Elsevier, vol. 22(3), pages 207-215, September.
    11. Sweeney, James L., 1993. "Economic theory of depletable resources: An introduction," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 17, pages 759-854, Elsevier.
    12. repec:ebl:ecbull:v:17:y:2008:i:13:p:1-11 is not listed on IDEAS
    13. Jeffrey MacKie-Mason, 1988. "Nonlinear Taxation of Risky Assets and Investment, With Application to Mining," NBER Working Papers 2631, National Bureau of Economic Research, Inc.
    14. repec:tiu:tiucen:200734 is not listed on IDEAS
    15. Marc S. Robinson, 1985. "The Welfare Cost of Resource Taxation," UCLA Economics Working Papers 376, UCLA Department of Economics.

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