Indirect Methods for Regulating Externalities Under Uncertainty

Evan Koenig

The Quarterly Journal of Economics, 1985, vol. 100, issue 2, 479-493

Abstract: It is sometimes necessary or appropriate to correct an externality by intervening in the market for a privately traded commodity with which the externality is linked. In these situations ad valorem taxation is a viable policy option. It is argued that some combination of specific and ad valorem taxes will always outperform regulations which fix price administratively, but that quantity standards may outperform taxes. The analysis is applied to a problem in international trade.

Date: 1985
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The Quarterly Journal of Economics is currently edited by Robert J. Barro, Lawrence F. Katz, Nathan Nunn, Andrei Shleifer and Stefanie Stantcheva

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