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Optimal Excise Taxes in Exhaustible Resource Exploitation and The Intertemporal Externality in the Dynamic Common Property Renewable Resources Problem

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  • Hartwick, John M.

Abstract

Optimal Excise Taxes in Exhaustible Resource Exploitation Public authorities are charged with raising Z dollars, in present value, from a competitive industry exploiting an exhaustible resource. We derive Ramsey-type excise tax rules for such a problem. The L.C. Gray case of a single mine is then investigated and also the case of an industry experiencing declining quality of minerals.

Suggested Citation

  • Hartwick, John M., 1980. "Optimal Excise Taxes in Exhaustible Resource Exploitation and The Intertemporal Externality in the Dynamic Common Property Renewable Resources Problem," Queen's Institute for Economic Research Discussion Papers 275161, Queen's University - Department of Economics.
    • Handle: RePEc:ags:queddp:275161
    DOI: 10.22004/ag.econ.275161
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    1. Smith, Vernon L, 1975. "The Primitive Hunter Culture, Pleistocene Extinction, and the Rise of Agriculture," Journal of Political Economy, University of Chicago Press, vol. 83(4), pages 727-755, August.
    2. Weitzman, Martin L., 1974. "Free access vs private ownership as alternative systems for managing common property," Journal of Economic Theory, Elsevier, vol. 8(2), pages 225-234, June.
    3. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 9, pages 178-203, Palgrave Macmillan.
    4. John Hartwick, 1979. "Free Access and the Dynamics of the Fishery," Working Paper 332, Economics Department, Queen's University.
    5. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62(2), pages 124-124.
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