The global petroleum system is undergoing an “oil transition,” shifting from conventionally produced petroleum to a suite of substitutes for conventional petroleum (SCPs). This paper describes the Regional Optimization Model for Emissions from Oil Substitutes, or ROMEO, which models this oil transition. ROMEO models the dynamics of the transition to substitutes for oil and the environmental imp...

Economists have almost uniformly treated anthropogenic greenhouse gas emissions as a market failure, requiring government measures to counterbalance the negative externality. William Nordhaus, a pioneer and leader in the field, uses the latest calibration of his DICE model to determine the “optimal” time-indexed carbon tax, starting at $42 per ton (of carbon, not ton of CO2) in 2015 and rising ...

We develop a general equilibrium model of trade with multiple countries and industries in the spirit of Eaton and Kortum (2002) and Bernard, Eaton, Jensen, and Kortum (2003). We structurally estimate the parameters of the model and calibrate it to data on 33 OECD countries and one country that covers the rest of the world. Industries differ by their relative energy intensity and the level of po...

This paper analyses the impact of the corporate tax reform introduced in Italy at the beginning of 2004 on firms’ tax burden. For this purpose we develop a microsimulation model reproducing the Italian corporate tax system. The model is based on an integrated dataset combining ISTAT (Italian Institute of Statistics) survey data on enterprises and company accounts, for the year 2000. The empiric...

This paper analyses the impact of the corporate tax reform introduced in Italy at the beginning of 2004 on firms’ tax burden. For this purpose we develop a microsimulation model reproducing the Italian corporate tax system. The model is based on an integrated dataset combining ISTAT (Italian National Statistical Office) survey data and published accounts data for corporations, for the year 2000...

The emerging stock market in Viet Nam has been developed since 2006 and affected by the financial crisis 2007-2009. This study analyzes the impacts of tax policy on market risk for the listed firms in the insurance industry as it becomes necessary. First, by using quantitative and analytical methods to estimate asset and equity beta of total 7 listed companies in Viet Nam insurance industry wit...

Many scholars argue that revenue from carbon taxes should be used to replace other taxes, such as on capital or labor, in order minimize economic damage compensate for the regressive nature of tax. Advocates this approach tax could produce a “double dividend,” reducing emissions while also increasing GDP by allowing lowered. This paper suggests caution before adopting approach, two reasons. Fir...