Public Finance in Theory and Practice

✍ Scribed by Holley H. Ulbrich

• Publisher: Taylor and Francis (Routledge)
• Year: 2011
• Tongue: English
• Leaves: 386
• Edition: 2
• Category: Library

✦ Synopsis

The events of the last decade have challenged the contemporary neo-classical synthesis in all branches of economics, but particularly public finance. The most notable feature of the 2nd edition of Public Finance in Theory and Practice is the infusion of behavioral economics throughout the text, with an end of chapter question inviting the student to apply a behavioral lens to some question or issue. There continues to be an emphasis on the importance of the institutional context, drawing on examples from many countries and emphasizing the role of lower level governments in a federal system. The first five chapters establish this context by reviewing the role of government in a market system, the description of government structure from an economic perspective, the basic data about revenue and expenditures, the elements of public choice, and the distributional role of government. The book has been substantially reorganized to put more emphasis on public expenditure. Expanded treatment of public goods includes common property resources and congestible or club goods. Expanded discussion of budgeting and cost-benefit analysis provides some practical application of the theory. Updated discussions of social security, public education and health care address these three major contemporary public finance issues. The traditional emphasis on revenue (taxes, fees and grants) has been retained but follows rather than precedes the discussion of expenditures.

✦ Table of Contents

Title......Page 4
Copyright......Page 5
Contents......Page 6
List of figures......Page 14
List of tables......Page 16
Preface to the second edition......Page 18
Acknowledgments......Page 20
Part 1 Government and the market......Page 22
1 Government in a market system......Page 26
2 Measuring the size and scope of government......Page 36
3 The structure of governments......Page 54
4 Decision-making in the public sector......Page 73
5 Equity, income distribution, and the social safety net......Page 90
Part 2 Government expenditures and budgets......Page 112
6 Public goods......Page 114
7 Externalities: Dealing with spillover effects......Page 132
8 Budgeting in the public sector......Page 146
9 Borrowing, debt service, and capital financing......Page 158
10 Cost-benefit analysis......Page 169
Part 3 Funding government: Taxes, fees, and grants......Page 182
11 Principles of taxation I: Efficiency and equity issues......Page 184
12 Principles of taxation II: Applied issues......Page 207
13 Taxes on income......Page 226
14 Taxes on sales and consumption......Page 247
15 Taxes on property and wealth......Page 264
16 Fees and charges as a revenue source......Page 283
17 Intergovernmental grants......Page 301
18 Public education......Page 318
19 Social Security......Page 336
20 Health care......Page 348
Afterword......Page 360
Glossary......Page 362
Notes......Page 372
Bibliography......Page 376
Index......Page 379