Indirect Methods for Regulating Externalities Under Uncertainty
The Quarterly Journal of Economics1985Vol. 100(2), pp. 479–479
Citations Over TimeTop 11% of 1985 papers
Abstract
It is sometimes necessary or appropriate to correct an externality by intervening in the market for a privately traded commodity with which the externality is linked. In these situations ad valorem taxation is a viable policy option. It is argued that some combination of specific and ad valorem taxes will always outperform regulations which fix price administratively, but that quantity standards may outperform taxes. The analysis is applied to a problem in international trade.
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