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Climate Policy Design and Revenue Management in Resource-Rich Economies
RFF Academic Seminar
Presenter
Lint Barrage, Assistant Professor, Agricultural and Resource Economics
University of Maryland
Abstract
This paper studies optimal climate policy design from the perspective of energy resource-rich developing economies. The model seeks to capture two unique challenges facing such countries. First, climate policy affects public finances both directly and through its impacts on energy resource rents. These fiscal interactions are welfare-relevant when governments raise revenues through distortionary taxes, and if pre-existing taxes fail to fully capture energy resource rents. Second, climate policy may ameliorate the (potentially negative) growth impacts of resource windfalls, again due to its impacts on resource rents as well as its direct effects. In order to characterize optimal climate policy in this setting, this paper thus formally incorporates (i) a dynamic Ramsey optimal taxation model with (ii) multiple sectors, (iii) energy resource extraction and supply dynamics, and (iv) a climate externality.
Date
Thursday, May 21, 2014
12:00 - 1:30 p.m. EDT
A light lunch will be provided.
Location
7th Floor Conference Room
All seminars will be in the 7th Floor Conference Room at RFF, 1616 P Street NW unless otherwise noted. Attendance is open, but involves pre-registration no later than two days prior to the event. For questions and to register to an event, please contact Karen Furman at furman@rff.org. Updates to our academic seminars schedule will be posted at www.rff.org/academicseminarseries.
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