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Fundamental U.S. Tax Reform and Energy Markets

This paper presents a new intertemporal general equilibrium model of the U. S. economy incorporating a detailed representation of U.S. tax structure. We employ the model to analyze the impact of fundamental tax reform on U.S. energy markets. More rapid economic growth would dominate energy conservation, leading to greater energy consumption and higher carbon emissions.

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Energy Specializations: Petroleum – Policy and Regulation; Natural Gas – Policy and Regulation; Energy and the Economy – Energy as a Productive Input; Energy and the Economy –Economic Growth and Energy Demand; Energy and the Economy – Resource Endowments and Economic Performance; Energy and the Economy – Energy Shocks and Business Cycles

JEL Codes: Q41: Energy: Demand and Supply; Prices, H23: Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies, Q40: Energy: General, Q02: Commodity Markets

Keywords: Tax reform, Energy Markets, US, general equilibrium model, tax policy

DOI: 10.5547/ISSN0195-6574-EJ-Vol18-No3-1

Published in Volume18, Number 3 of the bi-monthly journal of the IAEE's Energy Economics Education Foundation.


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