Hidden Bibliographic Details
| Other authors / contributors: | Tumen, Semih, author.
International Monetary Fund. Strategy, Policy, and Review Department, issuing body.
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| ISBN: | 9781498369923
1498369928
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| Notes: | "December 2014."
"Strategy, Policy and Review Department."
Includes bibliographical references (pages 29-32).
Online resource; title from pdf title page (IMF.org Web site, viewed December 29, 2014).
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| Summary: | This paper investigates the mechanisms through which environmental taxes on fossil fuel usage can affect the main macroeconomic variables in the short-run. We concentrate on a particular mechanism: speculative storage. The existence of forward-looking speculators in the model improves the effectiveness of tax policies in reducing fossil fuel usage. Improved policy effectiveness, however, is costly: it drives inflation and interest rates up, while impeding output. Based on this tradeoff, we seek an answer to the question how monetary policy should interact with environmental tax policies in our DSGE model of fossil fuel storage.--Abstract.
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| Other form: | Print version: Tumen, Semih. Taxing Fossil Fuels under Speculative Storage. Washington : International Monetary Fund, ©2014
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