Policy alternatives for regulation and taxation of domestic petroleum production in the US
Book
·
OSTI ID:6037769
A new approach to the analysis of regulatory and fiscal policy analyzes alternative policies for petroleum price regulation and taxation in the US. The most desirable economic policy is the policy associated with the highest level of social welfare. The analysts replace measures of individual and social welfare based on index numbers with measures based on an econometric model of consumer behavior. The model incorporates time series data on prices and aggregate quantities consumed, as well as cross section data on individual quantities consumed, individual total expenditures, and attributes of individual households, such as demographic characteristics. The study finds that money metric equity and money metric efficiency are both essential to the determination
- OSTI ID:
- 6037769
- Country of Publication:
- United States
- Language:
- English
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