In this paper, we discuss the design of carbon dioxide (CO2) taxes at the domestic and international level and the choice of taxes versus a cap-and-trade system. A strong case can be made for taxes on uncertainty, fiscal, and distributional grounds, though this critically hinges on policy specifics and how revenues are used. The efficient near-term tax is at least $5–$20 per ton of CO2 and the ...

On August 8, 2005, the Energy Policy Act of 2005 (EPAct 2005) increased the Section 48 investment tax credit (ITC) for commercial photovoltaic (PV) systems from 10% to 30% of the project’s “tax credit basis” (i.e., the dollar amount to which the ITC applies), and also created in Section 25D of the Internal Revenue Code a new 30% ITC (capped at $2,000) for residential solar systems. Both changes...

In this paper, a dynamic game model of duopoly firms between the traditional electric power enterprises and new energy enterprises was established for analyzing the behaviors of electric power enterprises under different government carbon taxes policies and the corresponding Nash equilibrium. This goal of the model was set to maximize the total social welfare while considering the economic, soc...

This articles studies the optimal tax mix (taxes on income and commodities) under asymmetric information in a two-type model, when individuals make relative consumption comparisons. The model includes both positional and nonpositional goods, taking into account the fact that relative concerns matter for some but not for all commodities. We nd that in general the whole tax system is a ected by t...

Acting as a cleaning and great efficiency fuel, natural gas has gained more and more notice. Reflect on the low percentage of natural gas usage in China, how to motivate natural gas production and usage from macroeconomic view worth discussing. Although carbon tax can be efficiently used to promote carbon emission reduction, the implementation of levying carbon tax might negatively impact natur...

Osmel Manzano May 2000. Tax Effects upon Oil Field Development in Venezuela. Important reforms have been made to the oil sector tax code in Venezuela. Given its diversity of oil resources, there was a concern that some resources were not being exploited because of the structure of the tax code. This paper uses traditional theoretical models to review these reforms. Then, a panel of 821 Venezuel...

This paper analyzes the effects of government debt and income taxes on consumption and saving in a world of infinitely lived households having uncertain and heterogeneous incomes. The special structure of the model allows exact aggregation across households despite incomplete markets. The effects of government debt are shown to be substantial, roughly comparable to those resulting from finite h...

Local governments in the United States typically rely on several main sources of own-source revenues, including individual income taxes, general sales taxes, specific excise taxes, fees and charges, and local property taxes. Of these sources, the dominant is by far the property tax. According to the United States Census Bureau (http://www.census.gov/govs/estimate), local property taxes accounte...