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Coping with Externalities in Tourism - A Dynamic Optimal Taxation Approach - Descarga este documento en PDF. Documentación en PDF para descargar gratis. Disponible también para leer online.

Abstract

The paper studies optimal taxation subvention when tourism is associated with „multiple externalities-, using a simple dynamic model of a small open economy, which is completely specialized in the production of tourism services and populated by a large number of intertemporally optimizing agents. Depending on the volume of tourism production, the externality can be either positive or negative. We show that the first best optimum, achieved by a central planner, recognizing the externality, can be replicated in a decentralized economy by using a time-varying tax rate. This ensures that i the steady state of the first best optimum is reached and that ii the speed of convergence to steady state is socially optimal.



Item Type: MPRA Paper -

Original Title: Coping with Externalities in Tourism - A Dynamic Optimal Taxation Approach-

Language: English-

Keywords: tourism demand; externalities; dynamic optimal taxation-

Subjects: H - Public Economics > H2 - Taxation, Subsidies, and Revenue > H21 - Efficiency ; Optimal TaxationR - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R13 - General Equilibrium and Welfare Economic Analysis of Regional EconomiesF - International Economics > F2 - International Factor Movements and International Business > F21 - International Investment ; Long-Term Capital MovementsH - Public Economics > H2 - Taxation, Subsidies, and Revenue > H23 - Externalities ; Redistributive Effects ; Environmental Taxes and Subsidies-





Autor: Schubert, Stefan Franz

Fuente: https://mpra.ub.uni-muenchen.de/16736/



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