Design of a Carbon Tax

Metcalf, Gilbert E.; Weisbach, David A.

doi:10.2139/ssrn.1324854

Cited by 123 publications

(164 citation statements)

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“…Similarly, if the government learns that the marginal harm is different than it first believed, the tax should be changed to reflect the new information. Metcalf and Weisbach (2009) consider the design of a carbon tax. They show that a carbon tax in the United States could cover 80% of total emissions by taxing less than 2,500 entities.…”

Section: Basic Definitions and Terminologymentioning

confidence: 99%

“…If the price goes above a set amount, the government will issue new permits at that price, effectively converting the system into a tax at the ceiling price. Similarly, if the price goes down below a set amount, the government will repurchase permits, ensuring that they do not go 16 Metcalf and Weisbach (2009). 17 For a discussion of this system, see Jacoby and Ellerman (2004).…”

Section: Quantitiesmentioning

confidence: 99%

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Instrument Choice is Instrument Design

Weisbach

2009

SSRN Journal

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Section: Basic Definitions and Terminologymentioning

confidence: 99%

Section: Quantitiesmentioning

confidence: 99%

Instrument Choice is Instrument Design

Weisbach

2009

SSRN Journal

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“…Metcalf and Weisbach (2009) suggest that if the tax is applied in this manner, taxing a few thousand fossil fuel firms could cover roughly 80% of US CO 2e emissions.…”

Section: Tax Base and Point Of Collectionmentioning

confidence: 99%

Environmental Taxation

Williams¹

2016

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This paper examines potential environmental tax policy reforms. It focuses primarily on a carbon tax, but also more briefly considers a range of other possible changes. These include revising or eliminating various energy and environmental tax credits and deductions (many of which might become unnecessary in the presence of a carbon tax), as well as changes to energy taxes that have substantial environmental implications (such as the federal gasoline tax). The paper draws on recent theoretical and empirical research to evaluate the effects of such reforms on tax revenue, pollution emissions, economic efficiency, and income distribution.

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“…Moreover, in theory, petroleum taxes have the potential of not only improving environmental quality but also raising revenue and reducing welfare costs offering a so-called "double dividend" (Pearce, 1991). However, in practice, the answer to how large motor fuel taxes should be is less than straightforward (Metcalf and Weisbach, 2009). …”

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The Taxation Of Motor Fuel : International Comparison

Ley¹,

Boccardo²

2010

Policy Research Working Papers

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Abstract. We apply the Parry-Small (2005) framework to asses whether the level taxation of motor fuel is broadly appropriate in a group of countries (OECD, BRICs and South Africa) accounting for more than 80 percent of world greenhouse gas (GHG) emissions. This paper deals with emissions from oil combustion in transport, which accounts for about 40 percent of co 2 emissions. In the benchmark specification, we find that six countries (accounting, in turn, for more than 40 percent of motor-fuel GHG world emissions) would be undertaxing motor fuel. We evaluate the sensitivity of the results to the values of the elasticities and externalities that we use. We find that varying the values of these parameters (within the level of uncertainty reasonably associated with them) significantly affects the results. This implies that, while informative, the results must be taken as indicative. Further analysis for a particular country must rely in a well-informed choice for the values of their country-specific parameters.

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Design of a Carbon Tax

Cited by 123 publications

References 48 publications

Instrument Choice is Instrument Design

Instrument Choice is Instrument Design

Environmental Taxation

The Taxation Of Motor Fuel : International Comparison

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