Taxing Fossil Fuels under Speculative Storage /

This paper investigates the mechanisms through which environmental taxes on fossil fuel usage can affect the main macroeconomic variables in the short-run. We concentrate on a particular mechanism: speculative storage. The existence of forward-looking speculators in the model improves the effectiven...

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Egile nagusia: Tumen, Semih
Beste egile batzuk: Unalmis, Deren, Unalmis, Ibrahim, Unsal, Filiz
Formatua: Aldizkaria
Hizkuntza:English
Argitaratua: Washington, D.C. : International Monetary Fund, 2014.
Saila:IMF Working Papers; Working Paper ; No. 2014/228
Sarrera elektronikoa:Full text available on IMF
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100 1 |a Tumen, Semih. 
245 1 0 |a Taxing Fossil Fuels under Speculative Storage /  |c Semih Tumen, Deren Unalmis, Ibrahim Unalmis, Filiz Unsal. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2014. 
300 |a 1 online resource (36 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper investigates the mechanisms through which environmental taxes on fossil fuel usage can affect the main macroeconomic variables in the short-run. We concentrate on a particular mechanism: speculative storage. The existence of forward-looking speculators in the model improves the effectiveness of tax policies in reducing fossil fuel usage. Improved policy effectiveness, however, is costly: it drives inflation and interest rates up, while impeding output. Based on this tradeoff, we seek an answer to the question how monetary policy should interact with environmental tax policies in our DSGE model of fossil fuel storage. 
538 |a Mode of access: Internet 
700 1 |a Unalmis, Deren. 
700 1 |a Unalmis, Ibrahim. 
700 1 |a Unsal, Filiz. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2014/228 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2014/228/001.2014.issue-228-en.xml  |z IMF e-Library