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Author/Editor:
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Smith, James
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Publication Date:
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November 27, 2012
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Electronic Access:
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Free Full text
(PDF file size is 1,314KB).
Use the free
Adobe Acrobat Reader
to view this PDF file
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
We present a simple model of petroleum exploration and development that can be applied to study the performance of alternative tax systems and identify potential distortions. Although the model is a highly simplified, it incorporates many factors and some of the key tradeoffs that would influence an investor’s investment behavior. The model recognizes the role of enhanced oil recovery and treats the impact of taxation on exploration and development in an integrated manner consistent with an investor’s joint optimization of investments at both stages of the process. The model is simple and user-friendly, which facilitates application to a broad range of problems.
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Order a print copy
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Series:
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Working Paper No. 12/278
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Subject(s):
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Taxes | Oil production | Taxation | Economic models
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English
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Publication Date:
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November 27, 2012
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ISBN/ISSN:
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9781557754455/2227-8885
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Format:
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Paper
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Stock No:
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WPIEA2012278
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Pages:
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46
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Price:
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US$18.00 )
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Please address any questions about this title to
publications@imf.org
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