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| Author: | Maskin, E. Newbery, D. |
| Title: | Disadvantageous oil tariffs and dynamic consistency |
| Journal: | American Economic Review
1990 : MAR, VOL. 80:1, p. 143-156 |
| Index terms: | TARIFFS NATURAL RESOURCES OIL INDUSTRY MARKETS DYNAMIC MODELS |
| Language: | eng |
| Abstract: | The analysis of natural resource taxation has largely concentrated on the taxation of resources extracted within the legal jurisdiction of the government. The analysis of import tariffs has generally been neglected. A large importer who places relatively greater weight on future than current oil consumption will import less oil in the future than if it were able to commit itself in advance to future tariffs, and may find itself worse off than if it were unable to impose tariffs at all. Future markets and storage modify these adverse effects and may avoid the problem of dynamic inconsistency. The main objective is to derive qualitative results within a general two-period model. |
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