TAXATION GROWTH AND RESOURCE EXTRACTION税收增长和资源提取.pdfVIP

European Economic Review 19 (1982) 357-386. North-Holland Publishing Company TAXATION, GROWTH, AND RESOURCE EXTRACTION A General Equilibrium Approach Hans-Werner SINN* Uniuersity of Mannheim, 68 Mannheim, West Germany Received January 1982 This paper deals with taxation in a framework which is a synthesis between the neoclassical growth model, augmented by a (separable) sector of resource-extracting lirms, and the Fisherian intertemporal general equilibrium model: market forces bring about the neoclassical optimal growth path under laissez faire, but taxation may result in welfare-reducing distortions. The taxes studied comprise ad valorem, capital-income, and capital-gains taxes, where the tax revenue is assumed to be redistributed in a lump-sum fashion. Particular attention is paid to the second-best problem of whether capital-income taxation should be supplemented by capital- gains taxation. Editorial note The article is a slightly revised translation of a paper presented at the 1979 annual conference of the Gerpan economic association ‘Verein fiir Socialpolitik’. The German paper, without the appendix, was published in the conference review [Sinn (1980)]. An English discussion paper was circulated in Sprin