The question of whether oil importing countries should tax interest payments to Organization of Petroleum Exporting Countries (OPEC) to exploit collective monopoly power in the world capital market is examined. OPEC sets the discounted future oil price equal to the current one, with marginal extraction costs assumed to be zero. The paper shows that, under those circumstances, a tax on interest payments to OPEC is not necessarily welfare improving...
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INFORMATION
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1983/10/01
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Document de travail départemental
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DRD60
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1
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1
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2010/07/01
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Disclosed
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Taxation of international capital flows : the intertemporal terms of trade and the real price of oil
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tax on interest payment
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