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dc.contributor.authorSandal, Leif Kristoffer
dc.contributor.authorSteinshamn, Stein Ivar
dc.contributor.authorGrafton, R. Quentin
dc.date.accessioned2006-07-14T10:28:02Z
dc.date.available2006-07-14T10:28:02Z
dc.date.issued2000-11
dc.identifier.issn1500-4066
dc.identifier.urihttp://hdl.handle.net/11250/164051
dc.description.abstractUsing a model of nonlinear decay of the stock pollutant, and starting from the same initial conditions, the paper shows that a tax that only corrects for stock externalities can, at the steady state, be higher than a tax that corrects for both stock and flow externalities. The results indicate that the possibility exists that the optimal corrective tax (correcting for both externalities) may result in a steady state with fewer emissions and lower tax payments than a tax that only corrects for stock externality. Thus, a failure to consider flow externalities may have important implications fior the time path and steady states of production, emissions and taxes, and not just in terms of transitory consumption.en
dc.format.extent1980195 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoengen
dc.publisherNorwegian School of Economics and Business Administration. Department of Finance and Management Scienceen
dc.relation.ispartofseriesDiscussion paperen
dc.relation.ispartofseries2000:21en
dc.subjectcorrective taxesen
dc.subjectstock and flow externalitiesen
dc.subjectnonlinear decayen
dc.titleMore is less : the tax effects of ignoring flow externalitiesen
dc.typeWorking paperen


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