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Depreciation rules and value invariance with extractive firms

Hartwick, John M., Karp, Larry and Van Long, Ngo (2002) Depreciation rules and value invariance with extractive firms Journal of Economic Dynamics and Control, 26, (1), pp. 99-116. (doi:10.1016/S0165-1889(00)00019-1).

Record type: Article


The application of Samuelson's theorem on value invariance to the case of intertemporally optimizing firms is shown to require a judiciously chosen economic depreciation formula which depends on both current stock and current flow variables, in order to prevent the firms from changing their actions in the face of the tax regime. We illustrate by deriving depreciation rules which achieve non-distortingness of actions and value-invariance for resource-extracting firms.

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Published date: 2002
Additional Information: JEL classification codes: H25; D92


Local EPrints ID: 39690
ISSN: 0165-1889
PURE UUID: d24c050f-f39e-47d9-9e1b-24ce62da6c47

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Date deposited: 29 Jun 2006
Last modified: 17 Jul 2017 15:36

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Author: John M. Hartwick
Author: Larry Karp
Author: Ngo Van Long

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