경제연구소 经济研究所
KIER Working Paper
Optimal Dynamic Taxation with Vehicle Fuel Efficiency: Pigou meets Ramsey
- 21.02.22 / Bongseok Choi and Soyoung Lee
- KIER-2021-04.pdf
This paper theoretically characterizes durable nature of vehicles and then quantifies secondbest optimal gasoline taxes of vehicles in a dynamic general equilibrium. To capture the durable nature of vehicles in the model, we incorporate the putty-clay nature of the way transportation capital (vehicles) and gasoline are combined to “produce” vehicle mile of
핵심용어 : Fuel efficiency; Ramsey Taxation; Pigouvian Taxation
JEL 주제분류 : H21, H23, Q43, E22, Q48
| 제목 | KIER-2021-04 Optimal Dynamic Taxation with Vehicle Fuel Efficiency: Pigou meets Ramsey | 저자 | Bongseok Choi and Soyoung Lee |
|---|---|---|---|
| 첨부파일 | KIER-2021-04.pdf (63,706.8 KB) | ||
게시물 내용요약
This paper theoretically characterizes durable nature of vehicles and then quantifies secondbest optimal gasoline taxes of vehicles in a dynamic general equilibrium. To capture the durable nature of vehicles in the model, we incorporate the putty-clay nature of the way transportation capital (vehicles) and gasoline are combined to “produce” vehicle mile of
travel. Once the durable nature of vehicles is determined, people can only decide how often to utilize the vehicles and how much to drive. A social planner induces households internalize
external costs of vehicle utilization (air pollution and traffic congestion) by imposing Pigouvian taxes, and then chooses quantities to maximize social welfare. Under the puttyclay
structure, as the gasoline price rises by one percent, a representative household drives less and uses the immediate savings from reduction of gasoline consumption to 3.5% more of
fuel efficiency of new vehicles.
핵심용어 : Fuel efficiency; Ramsey Taxation; Pigouvian Taxation
JEL 주제분류 : H21, H23, Q43, E22, Q48
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