Readings, Issues, and Problems in Public Finance, 4th Edition

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The welfare aspects of public economic science volition receive extensively renewed exam in this 3rd Edition. With four new chapters and other significant revisions, it will nowadays detailed and comprehensive coverage of theoretical literature, empirical work, environmental problems, social insurance, behavioral economics, and international revenue enhancement bug. With increased emphasis on the European Union, it will be rigid plenty for use past Ph.D.'s while being accessible to student less well trained in math. Public Finance remains the premier textbook on the normative theory of government policy, with the Tertiary Edition propelling into the 21st century its examination of what government ought to be doing instead of what information technology is doing.

Key Features

* Moves skillfully from explaining normative theory to applying it in mathematically compact and precise terms.

*Adds four new capacity on social insurance, medical intendance, social security pensions, behavioral public economic science, and international public finance.

*Includes new pedagogical supplements, including end-of-affiliate questions and answers.

*Emphasizes European examples

Readership

Advanced undergraduate and graduate students studying public finance and public economics, and more broadly welfare economics.

Cover prototype
Title page
Tabular array of Contents
Copyright
Preface
Function I. Introduction: The Content and Methodology of Public Sector Theory
Chapter i. Introduction to Normative Public Sector Theory
The Key Normative Questions
Government Expenditure Theory: Philosophical Underpinnings
Government Expenditure Theory and Marketplace Failure
The Government Sector in the United states of america
The Theory of Tax
Fiscal Federalism
The Theory of Public Pick
Behavioral Public Finance
Summary
Affiliate 2. A General Equilibrium Model for Public Sector Analysis
A Baseline General Equilibrium Model
Efficiency: The Pareto Optimal Atmospheric condition
Equity: The Social Welfare Function and the Optimal Distribution of Income
Maximizing Social Welfare
Policy Implications and Conclusions
Chapter three. First-Best and Second-Best Analyses and the Political Economic system of Public Sector Economics
Lump-Sum Redistributions and Public Sector Theory
First-Best Analysis
Second-Best Assay
Similarities Between Commencement-All-time and 2nd-Best Analyses
The Political Economy of the Social Welfare Function
Conclusion
Part Two. The Theory of Public Expenditures and Taxation—First-Best Analysis
Chapter 4. The Social Welfare Office in Policy Analysis
Social Welfare and the Distribution of Income: The Atkinson Framework
Social Welfare and Consumption: The Jorgenson Assay
Social Welfare and Social Mobility
Chapter five. The Problem of Externalities—An Overview
Policy-Relevant Externalities
The Analysis of Externalities: Modeling Preliminaries
Chapter 6. Consumption Externalities
How Bad Can Externalities Be?
The Worst of All Worlds—All Goods (Factors) Are Pure Public Goods (Factors)
The Beingness of at To the lowest degree One Pure Private Good
Nonexclusive Goods—The Samuelson Model
Aggregate Externalities
Chapter 7. Production Externalities
The Condensed Model for Production Externalities
Aggregate Product Externalities
U.S. Antipollution Policy: The CAC Arroyo
Concluding Comments: The Problem of Nonconvex Product Possibilities
Chapter 8. An Application of Externality Theory: Global Warming
Consumption–Production Externalities
Legislating Pollution Standards
Defensive Antipollution Strategies
The Kyoto Protocol, the Copenhagen Accord, and the Paris Climate Understanding
Long-Lived Externalities
Additional Issues
Chapter 9. The Theory of Decreasing Cost Production
Decreasing Toll in General Equilibrium Analysis
Reflections on U.S. Policy Regarding Decreasing Toll Services: The Public Interest in Equity and Efficiency
Appendix: Returns to Scale, Homogeneity, and Decreasing Toll
Chapter 10. The First-Best Theory of Taxation and Transfers
Public Choice and Pareto-Optimal Redistribution
Altruism, Free Riding, and Crowding Out of Private Charity
Other Motivations for Redistributive Transfers
Chapter eleven. Applying Get-go-Best Principles of Taxation—What to Tax and How
Designing Broad-Based Taxes: The Economic Objectives
Ability to Pay: Theoretical Considerations
Horizontal Equity
Vertical Equity
Reflections on the Haig–Simons Criterion in Exercise: The Federal Personal Income Tax
The Inflationary Bias Against Income From Capital
Taxing Realized Gains: Auerbach's Retrospective Taxation Proposal
The Taxation of Man Capital
Summary
Part 3. The Theory of Public Expenditures and Taxation: Second-Best Analysis
Chapter 12. Introduction to Second-Best Analysis
A Cursory History of 2d-Best Theory
Philosophical and Methodological Underpinnings
Preview of Part III
Chapter 13. The Second-All-time Theory of Taxation in One-Consumer Economies With Linear Production Technology
Full general Equilibrium Price Models
The Measurement of Loss From Distorting Taxes
The Optimal Pattern of Article Taxes
Substitutions Among Taxes: Implications for Welfare Loss
Chapter 14. The Second-Best Theory of Taxation With General Production Technologies and Many Consumers
A 1-Consumer Economy With Full general Technology
Many-Person Economies: Fixed Producer Prices
Many-Person Economy With General Technology
The Social Welfare Implications of Whatever Given Change in Taxes
Chapter fifteen. Tax Nether Disproportionate Information
Lump-Sum Redistributions and Private Information
Redistribution Through Commodity Revenue enhancement
Optimal Taxation, Private Data, and Self-Selection Constraints
Optimal Income Revenue enhancement
Taxation Evasion
Concluding Remarks
Chapter 16. The Theory and Measurement of Tax Incidence
Tax Incidence: A Partial Equilibrium Analysis
Start-Best Theory, Second-Best Theory, and Tax Incidence
Methodological Differences in the Measurement of Taxation Incidence
Theoretical Measures of Tax Incidence
The Equivalence of General Taxes
Measuring Tax Incidence: A Many-Consumer Economy
The Harberger Analysis
Of import Modifications of the Harberger Model
Chapter 17. Expenditure Incidence and Economywide Incidence Studies
The Incidence of Government Transfer Payments
Revenue enhancement and Expenditure Incidence With Decreasing-Cost Services
Samuelsonian Nonexclusive Appurtenances
Economywide Incidence Studies
The Sources and Uses Approach
Computable General Equilibrium Models of Tax Incidence
Dynamic Tax Incidence
Affiliate eighteen. Tax Reform: The Tax Base of operations and Tax Rates
Tax Reform and Tax Theory
Reforming the Tax Base
Reforming the Personal Income Tax Rates
Chapter 19. Transfer Payments and Private Data
First-Best Insights
Cash Transfers: Wide-Based or Targeted?
Private Data and In-Kind Transfers
Chapter twenty. Social Insurance: Medical Care
The Demand for Insurance
Without Insurance
With Insurance
Private or Disproportionate Information
Moral Hazard
The Competitive Outcome
The Public Policy Response
Ex Mail service Moral Hazard
Deductibles and Copayments
The Value of Access
Adverse Pick
Ex Postal service Versus Ex Ante Efficiency
The Nature of Adverse Selection
Advantageous Pick
A Two-Policy Model
Is an Equilibrium Possible?
An Information-Enhanced R/S Model
Policy Response to Adverse Selection
U.S. Policies
Medicare and Medicaid
Patient Protection and Affordable Care Act
Affiliate 21. Social Insurance: Social Security
The U.S. Social Security Arrangement
Social Security as Social Insurance
The Macroeconomic Effects of Social Security
Social Security and Saving
The Structure of the Economy: Consumption, Production, and Market Clearance
Concluding Observations
Chapter 22. Externalities in a 2nd-Best Environment
The 2d-Best Allocation of Samuelsonian Nonexclusive Appurtenances
The Coase Theorem, Bargaining, and Private Information
Chapter 23. Decreasing Costs and the Theory of the Second Best—The Boiteux Problem
The Boiteux Problem: The Multiproduct Decreasing-Cost House
Constrained Authorities Agencies
Chapter 24. Full general Product Rules in a Second-All-time Environment
The Diamond–Mirrlees Problem: One-Consumer Economy
Product Decisions With Nonoptimal Taxes
2d-Best Production Rules When Equity Matters
Terminal Comments
Affiliate 25. Behavioral Public Sector Economic science
The Behavioral Anomalies
Prospect Theory: The Rejection of Expected Utility Maximization
Nowadays-Biased Preferences: Self-Command Issues
Social Preferences
Framing Effects or Context Dependence
Mainstream Reactions
Positive and Normative Public Sector Economics
Prospect Theory
Applying Prospect Theory
Nudges and Standard Policy Prescriptions
Standard Agents Only
Behavioral Agents But
A Mixture of Standard and Behavioral Agents
Neoclassical Errors When Behavioral Anomalies Occur
Can Mainstream and Behavioral Economic Theory Be Reconciled?
Refinements
Behavioral Public Finance Following Bernheim/Rangel
Reworking Optimal Taxation Theory
A Final Discussion in Support of Behavioral Economics
Part IV. Financial Federalism and International Public Finance
Chapter 26. Optimal Federalism: Sorting the Functions of Authorities Inside the Financial Bureaucracy
The Potential for Incompatibilities and Destructive Contest
Sorting the Functions of Government Within the Fiscal Bureaucracy
Optimal Federalism and the Distribution Function
Chapter 27. Optimal Federalism: The Sorting of People Within the Fiscal Hierarchy
The Modeling Dimensions
Jurisdiction Formation in Accord With the Theory of Clubs
Fixed Communities and Housing Sites: Adding the Housing Market place
Anything Is Possible
Mobility and Redistribution
Chapter 28. The Role of Grants-in-Aid in a Federalist Arrangement of Governments
Optimal Federalism and Grants-in-Aid: Normative Assay
Alternative Design Criteria
Estimating the Demand for State and Local Public Services
The Response to Grants-in-Aid
Chapter 29. International Public Finance
The Taxation of Mobile Majuscule
Summary
Multinational Enterprises
A Destination-Based Greenbacks Flow Taxation
Terminal Observations
Index

Production details

No. of pages: 565
Linguistic communication: English language
Copyright: © Academic Press 2022
Published: August 1, 2013
Banner: Academic Printing
Paperback ISBN: 9780128228647
eBook ISBN: 9780323984157

Almost the Writer

Richard Tresch

Professor Richard W. Tresch earned a bachelor's caste from Williams Higher in 1965 and a doctorate in economics in 1973 from Massachusetts Plant of Engineering science, where he was a teaching banana prior to his inflow at Boston College. He joined the Boston Higher faculty in 1969 and throughout his 43-year career has served as Chairman of the Section of Economics, Director of Graduate Studies, and Director of Undergraduate Studies.

In 1996, chosen as Massachusetts Professor of the Yr past the Carnegie Foundation for the Advancement of Teaching. He was one of 585 national entrants in the foundation'southward US Professors of the Year Plan, which salutes outstanding undergraduate instructors; its award is recognized as one of the most prestigious honors bestowed upon professors. "I am quite humbled by the accolade, and extremely grateful to the Carnegie Foundation," Tresch said. "The greatest honour, still, is to accept been nominated past Boston College. In that location are so many good teachers here and to exist chosen to represent them in the program is something I truly value."

A member of the American Economic Association, Tresch served on the board of editors for the American Economic Review, and has contributed to New England Journal of Business organisation and Economics and Public Finance. He is the editor of a four-book major reference work on public sector economic science.

The 3rd edition on his textbook, Public Finance: A Normative Theory publishes in November, 2014.

Affiliations and Expertise

Boston College, Massachusetts, Us

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Readings, Issues, and Problems in Public Finance, 4th Edition

Source: https://www.elsevier.com/books/public-finance/tresch/978-0-12-822864-7

Mauger Tiese1959