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Double Dividend Environmental Taxes and Fiscal Reform in the United States

ISBN-10: 0262027097

ISBN-13: 9780262027090

Edition: 2013

Authors: Dale W. Jorgenson, Richard J. Goettle, Mun S. Ho, Peter J. Wilcoxen

List price: $84.00
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Description:

Energy utilization, especially from fossil fuels, creates hidden costs in the form ofpollution and environmental damages. The costs are well documented but are hidden in the sense thatthey occur outside the market, are not reflected in market prices, and are not taken into account byenergy users. Double Dividend presents a novel method for designingenvironmental taxes that correct market prices so that they reflect the true cost of energy. Theresulting revenue can be used in reducing the burden of the overall tax system and improving theperformance of the economy, creating the double dividend of thetitle.The authors simulate the impact of environmental taxes on the U.S. economyusing their Intertemporal General Equilibrium Model (IGEM). This highly innovative modelincorporates expectations about future prices and policies. The model is estimated econometricallyfrom an extensive 50-year dataset to incorporate the heterogeneity of producers and consumers. Thisapproach generates confidence intervals for the outcomes of changes in economic policies, a newfeature for models used in analyzing energy and environmental policies. These outcomes include thewelfare impacts on individual households, distinguished by demographic characteristics, and forsociety as a whole, decomposed between efficiency and equity.
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Book details

List price: $84.00
Copyright year: 2013
Publisher: MIT Press
Publication date: 11/29/2013
Binding: Hardcover
Pages: 640
Size: 6.50" wide x 9.00" long x 1.50" tall
Weight: 2.134
Language: English

Dale W. Jorgenson is the Samuel W. Morris University Professor in the Department of Economics at Harvard University.

Richard Goettle is Lecturer of Finance and Economics at Northwestern University.

Mun S. Ho is Visiting Fellow at Harvard's Institute for Quantitative Social Science.