{
  "title": "How Large Are Global Energy Subsidies?",
  "publication": "IMF Working Papers, May 18, 2015",
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  "summary": "This paper provides a comprehensive, updated picture of energy subsidies at the global and regional levels. It focuses on the broad notion of post-tax energy subsidies, which arise when consumer prices are below supply costs plus a tax to reflect environmental damage and an additional tax applied to",
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    {
      "heading": "Summary",
      "content": "- This paper provides a comprehensive, updated picture of energy subsidies at the global and regional levels.\n- It focuses on the broad notion of post-tax energy subsidies, which arise when consumer prices are below supply costs plus a tax to reflect environmental damage and an additional tax applied to all consumption goods to raise government revenues.\n- Post-tax energy subsidies are dramatically higher than previously estimated, and are projected to remain high.\n- These subsidies primarily reflect under-pricing from a domestic (rather than global) perspective, so even unilateral price reform is in countries’ own interests.\n- The potential fiscal, environmental and welfare impacts of energy subsidy reform are substantial."
    },
    {
      "heading": "Key Findings and Concepts",
      "content": "- Post-tax energy subsidies are substantially larger than earlier estimates.\n- The subsidy concept used: consumer price < supply cost + environmental damage tax + general consumption tax.\n- Under-pricing is mainly a domestic issue, implying national-level gains from unilateral reform."
    },
    {
      "heading": "Projections and Implications",
      "content": "- Post-tax energy subsidies are projected to remain high (phrase preserved from source).\n- Fiscal, environmental, and welfare impacts from subsidy reform are described as substantial."
    },
    {
      "heading": "Policy-Relevant Themes",
      "content": "- Unilateral price reform can be in a country’s own interest because under-pricing primarily reflects domestic perspectives.\n- Addressing post-tax subsidies requires accounting for supply costs, externality (environmental) costs, and general consumption taxation.\n\n---\n\n Content in this bundle\n\n- wp15105\n  - wp15105 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp15105 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/how-large-are-global-energy-subsidies-42940"
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    "Authors: David Coady, Ian W.H. Parry, Louis Sears, Baoping Shang",
    "Published: May 18, 2015",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513532196.001",
    "This paper provides a comprehensive, updated picture of energy subsidies at the global and regional levels.",
    "It focuses on the broad notion of post-tax energy subsidies, which arise when consumer prices are below supply costs plus a tax to reflect environmental damage and an additional tax applied to all consumption goods to raise government revenues.",
    "Post-tax energy subsidies are dramatically higher than previously estimated, and are projected to remain high.",
    "These subsidies primarily reflect under-pricing from a domestic (rather than global) perspective, so even unilateral price reform is in countries’ own interests.",
    "The potential fiscal, environmental and welfare impacts of energy subsidy reform are substantial.",
    "Post-tax energy subsidies are substantially larger than earlier estimates.",
    "The subsidy concept used: consumer price < supply cost + environmental damage tax + general consumption tax.",
    "Under-pricing is mainly a domestic issue, implying national-level gains from unilateral reform.",
    "Post-tax energy subsidies are projected to remain high (phrase preserved from source).",
    "Fiscal, environmental, and welfare impacts from subsidy reform are described as substantial.",
    "Unilateral price reform can be in a country’s own interest because under-pricing primarily reflects domestic perspectives.",
    "Addressing post-tax subsidies requires accounting for supply costs, externality (environmental) costs, and general consumption taxation.",
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