Download or read book Financing of Public Goods Through Taxation in a General Equilibrium Economy written by Juergen Huber and published by . This book was released on 2013 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: We compare laboratory general equilibrium economies in which maintenance of a depreciating public facility is financed either by anonymous voluntary contributions or taxes. Agents individually allocate their private goods between consumption and investment in production. The experimental economies sustain public goods at 80-90 percent of the infinite horizon but 25-30 percent above the finite horizon optimum. Payoff efficiency is around 90 percent. This contrasts with rapid decline of public goods under voluntary contributions. When subjects have the choice between a system with voluntary contributions or taxation, 23 out of 24 voting decisions favor taxation. Taxation appears to be superior on grounds of both long run efficiency and fairness. Economy is too complex for subjects to solve for optimally, but simple institutional constraints yield aggregate efficiency.

Download or read book Financing of Public Goods Through Taxation in a General Equilibrium Economy written by Jürgen Huber and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Public Finance written by Carl Shoup and published by Routledge. This book was released on 2017-07-05 with total page 677 pages. Available in PDF, EPUB and Kindle. Book excerpt: Broad in scope and carefully balanced in emphasis, this book is a major treatise on the theory and practice of public finance. It is unique in its presentation of a worldwide perspective and in its treatment of both the instruments of public finance and the goals, effects, and criteria of public finance measures. The book is divided into three parts. Book One defines the field, specifies the possible meaning of the "effects" of a public finance measure, and describes the criteria by which these measures are commonly appraised.Book Two is concerned with micro public finance and opens with a discussion of the theory of public goods in general. Each of the major free government services and types of transfer payments as well as the taxes that government employs are then examined. This section concludes with a chapter on the relevant aspects of government borrowing and inflationary finance. Book Three considers the major goals of public finance policy and describes how the various instruments described in Book Two can be used in achieving these goals. Among the topics treated are the use of appropriate instruments to resolve conflict in goals, conceptual problems of measuring the public finance sector and its maximum and minimum economic limits, consensus goals of equity full employment and Pareto-optimism use of resources, and goals that evoke conflicts of interest within any community.

Download or read book Efficiency of tax systems financing public goods in general equilibrium analysis written by Joseph Grünberg and published by . This book was released on 1974 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A General Equilibrium Model for Tax Policy Evaluation written by Charles L. Ballard and published by University of Chicago Press. This book was released on 2009-05-15 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reports the authors' research on one of the most sophisticated general equilibrium models designed for tax policy analysis. Significantly disaggregated and incorporating the complete array of federal, state, and local taxes, the model represents the U.S. economy and tax system in a large computer package. The authors consider modifications of the tax system, including those being raised in current policy debates, such as consumption-based taxes and integration of the corporate and personal income tax systems. A counterfactual economy associated with each of these alternatives is generated, and the possible outcomes are compared.

Download or read book Modern Public Finance written by John M. Quigley and published by . This book was released on 1994 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main problem of public finance is how to improve the way tax money is spent, increase the efficiency of the economy and change the distribution of income in several desirable ways. Contributions by various authors dealing with subjects, such as: The distribution of the tax burden; Public sector dynamics; Public goods and the invisible hand; Federalism and government finance; Tax policy; Integrating allocation and stabilization budgets. In the chapter Public Sector Dynamics is dealt with the public debt and the following questions are treated: Does public debt have any effect? What effects does it have? How is it determined politically? And how is it meant! One of the conclusions is that future government claims and liabilities cannot be valued at their market value.

Download or read book Public Finance written by Carl Shoup and published by Routledge. This book was released on 2017-07-05 with total page 1499 pages. Available in PDF, EPUB and Kindle. Book excerpt: Broad in scope and carefully balanced in emphasis, this book is a major treatise on the theory and practice of public finance. It is unique in its presentation of a worldwide perspective and in its treatment of both the instruments of public finance and the goals, effects, and criteria of public finance measures. The book is divided into three parts. Book One defines the field, specifies the possible meaning of the "effects" of a public finance measure, and describes the criteria by which these measures are commonly appraised.Book Two is concerned with micro public finance and opens with a discussion of the theory of public goods in general. Each of the major free government services and types of transfer payments as well as the taxes that government employs are then examined. This section concludes with a chapter on the relevant aspects of government borrowing and inflationary finance. Book Three considers the major goals of public finance policy and describes how the various instruments described in Book Two can be used in achieving these goals. Among the topics treated are the use of appropriate instruments to resolve conflict in goals, conceptual problems of measuring the public finance sector and its maximum and minimum economic limits, consensus goals of equity full employment and Pareto-optimism use of resources, and goals that evoke conflicts of interest within any community.

Download or read book Existence of Equilibrium and Stratification in Local and Hierarchical Tiebout Economies with Property Taxes and Voting written by Thomas J. Nechyba and published by . This book was released on 1995 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present the first fully closed general equilibrium model of hierarchical and local public goods economies with the following features: (i) multiple agent types who are endowed with both some amount of private good (income) and a house, who are mobile between houses and jurisdictions, and who vote in local and national elections; (ii) multiple communities that finance a local public good through property taxes which are set in accordance with absolute majority rule; and (iii) a national government that produces a national public good financed through an income tax whose level is determined through majority rule voting. In contrast to previous models, no overly restrictive assumptions on preferences and technologies are required to prove the existence of an equilibrium in the presence of property taxation and voting. Thus, the existence of an equilibrium is proved without any of the major restrictions used in the past, and sufficient conditions for stratification of agents into communities based on their public good preferences and their wealth levels are found. This model lays the groundwork for a positive applied analysis of local public finance and intergovernmental relations. It furthermore builds the foundation for a parameterized computable general equilibrium model of local public goods and fiscal federalism that is used elsewhere to analyze a variety of policy issues.

Download or read book The Economic Theory of Fiscal Policy written by Bent Hansen and published by Psychology Press. This book was released on 2003 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book explores whether fiscal policies can secure full employment without inflation, one of the key questions in economics after Keynes. Part 1, General Theory of Public Finance and Fiscal Policy, discusses Ends and Means in economic policy. The results of this ends-means analysis are applied to fiscal policy. Part 2, Microeconomics, deals with the impact of fiscal measures on the behaviour of the individual household, firm and other organization, concentrating on the effects on consumption and saving. Part 3, Macroeconomics, considers how the problem of keeping the price-level constant and the labour market in equilibrium at full employment may be solved by means of fiscal and monetary measures. Problems connected with the volume of investments and the balance of payments are considered simultaneously.

Download or read book The Economics Of Public Finance written by Alan Blinder and published by Brookings Institution Press. This book was released on 2011-07-01 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the thirty-fifth volume in the Brookings Studies of Government Finance series. In the first of its four essays, “Analytical Foundations of Fiscal Policy,” Alan S. Blinder of Princeton University and Robert M. Solow of the Massachusetts Institute of Technology survey the theoretical and empirical underpinnings of fiscal policy. After discussing how the influence of fiscal policy on macroeconomic activity ought to be assessed, the authors examine and find inadequate the dictum that government should balance the budget rather than the economy. They defend—again both theoretically and empirically—the efficacy of fiscal policy against the monetarist challenge. From an examination of the lags and uncertainties in the operation of fiscal policy and an analysis of the 1968–70 income tax surcharge, they conclude that, although much remains to be learned about the econometrics of policy multipliers, the post-surcharge experience in no way undermines the theoretical foundations of fiscal policy. Where the burdens of various taxes fall has been a matter of intense interest to economic theorists in the last twenty years. As public expenditures (and taxpayer resistance) rise, not only must policy makers try to distribute the burdens of taxation equitably, but they must also attempt to move toward national goals by judicious use of tax instruments. George F. Break of the University of California at Berkeley, in “The Incidence and Economic Effects of Taxation,” a comprehensive review of recent tax literature, focuses on the theoretical studies that have helped to expand knowledge of tax incidence and the empirical studies that support newly developed hypotheses. In each area he surveys—the design of theoretical and general sales and income taxes; the effect of economic choices, both of individuals and businesses, on the national well-being—Break indicates the ground still to be covered and the potential benefits of further inquiry. In “Public Expenditure Budgeting,” Peter O. Steiner of the University of Michigan explores the literature dealing with the hard questions underlying public expenditures. What is the public interest? How does the community decide whether the government should undertake or finance a given activity, instead of leaving it to a private action or inaction? On what basis should incremental expenditure decisions of governmental units be made? Steiner reviews the various approaches scholars have taken to the difficult questions surrounding the appropriateness of governmental provision of particular goods and services. Although he finds none of the models fully satisfactory, his work contributes to the debate concerning the process by which collective values are articulated and collective decisions come to be accepted as binding. Dick Netzer’s “State-Local Finance and Intergovernmental Fiscal Relations” clarifies the debate that centered around the initial proposals for revenue sharing. The author, Dean of New York University’s Graduate School of Public Administration, explores the appropriate distribution of responsibility for public services among federal, state, and local governments, the appropriate revenue systems for the subnational governments, and the appropriate means of coordinating the systems with the responsibilities.

Download or read book Commodity Tax Harmonization in the European Community written by Andreas Haufler and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book is concerned with the main issues that arise for general commodity taxation in the internal market: the choice of a new international tax principle and the question of tax rate harmonization. The book provides a thorough discussion of these issues and evaluates the choices made by the European Community from a welfare-theoretic perspective by comparing them to feasible alternatives. The discussion integrates a large number of recent theoretical and policy-oriented contributions which have so far not been collected and summarized in a single volume. Special features of the book are that (a) the analysis combines elements of international trade theory and public finance, two economic disciplines which are rarely integrated; (b) a dual general equilibrium framework is used throughout the analysis, (c) a second-best setting is consistently employed, incorporating relevant policy constraints and integrating conflicting arguments in a single analytical framework, (d) part of the theoretical analysis is supplemented by a computable general equilibrium approach. The book shows that well-known international trademodels can be extended to model alternative principles for taxing international trade but also international differences in preferences for public goods and different views of government behavior - issues which are directly relevant for the discussion of tax rateharmonization but are rarely treated in an analytical way.

Download or read book Introduction to Computable General Equilibrium Models written by Mary E. Burfisher and published by Cambridge University Press. This book was released on 2016 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.

Download or read book Indirect Taxation in Developing Countries written by Ary Lars Bovenberg and published by International Monetary Fund. This book was released on 1986-09-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Indirect taxes are an important element in stabilization tax packages that aim at raising revenue in the short run. This paper evaluates, by using a general equilibrium model, alternative instruments of indirect taxation in middle-income developing countries. It uses data for Thailand as an illustration and examines the effects on revenue, efficiency, equity, and international competitiveness. The paper shows that the interaction between taxes and distortions caused by various policies can be important for revenue and efficiency. It also reveals significant backward shifting and a link between outward-looking supply-side tax policies and trade policies in industrial countries.

Download or read book Essays on the Optimal State and Federal Financing of Public Goods written by Jorge Antonio Barro and published by . This book was released on 2012 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation contains three chapters in macroeconomics that study the financing and provision of unemployment insurance. The first chapter studies cross-sectional differences in U.S. state provision of unemployment insurance and the distortionary effects of federal unemployment benefit subsidies in a dynamic labor search model. The paper has two main findings. First, differences in the job-separation rate and the job-finding rate within the model can generate the negative correlation between the average benefit provided by a state and the state's unemployment rate, as observed in the data. Secondly, the model shows how the federal subsidization of unemployment benefit extensions in high-unemployment states causes an over-provision of the benefit, which in turn increases the unemployment rate in those states. Because the extensions are federally subsidized, however, the welfare loss due to the distortion is offset by the benefits of redistribution between states. The second chapter studies the optimal government monitoring of job search effort by unemployment insurance recipients. The theoretical model is a labor search economy with imperfectly observable search effort. The government observes a signal that is correlated with job search effort and must decide the threshold level of the signal that determines continued UI eligibility. The results of the numerical analysis show that the government increases this threshold level at each duration of the unemployment spell. Further, an increasing threshold profile can generate a sharp increase and subsequent drop-off in search effort near the expiration of benefits as observed in the data. The third chapter studies the optimal mix of distortionary capital and labor taxes in an altruistic economy. This problem is addressed by solving a dynamic general equilibrium model with production, in which finitely-lived individuals are linked inter-generationally through altruistic preferences. The government is tasked with financing an exogenous stream of government spending by levying distortionary capital and labor income taxes in a way that minimizes welfare loss in the economy. The numerical results show that nearly all government revenue should be raised through the labor income tax.

Download or read book Taxation and Public Goods written by Herbert J. Kiesling and published by . This book was released on 1992 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: New approach to the analysis of tax policies

Download or read book General Equilibrium Analysis written by Harry G. Johnson and published by Routledge. This book was released on 2017-07-12 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a new kind of textbook in microeconomic theory. In place of the usual concentration on partial equilibrium analysis and discussion of a standard series of topics, the authors seek to introduce the student from the start to the general equilibrium approach to microeconomics, in the form of the two-sector model. This model is then applied to a variety of subjects in different special fields of economic analysis: welfare economics, international trade, public finance and income distribution. This book represents a very different approach to the teaching of micro-economic theory than normally followed, and one that will be of greater long-run value to the serious student of economics. In place of the usual textbook development of the subject as traditionally conceived through topics of increasing complexity and analytical difficulty, using partial equilibrium techniques of analysis, the book concentrates on the exposition and application of a more logically integrated set of tools that have been found of greater use in the analysis of problems arising not only in traditional micro-economics but also in a number of fields of economics that have customarily been hived off into separate specialized advanced courses. General Equilibrium Analysis starts with the description of the two-sector model and how these two sectors are built based on the individual micro-units in which they made up of and how they fit into the concept of the circular flow of income. Subsequent chapters deal with the evaluation of changes in factor endowment, demand preferences and technical progress by means of the model; and the theory of government, which includes both the theory of government expenditure, or public goods, and the theory of government tax and/or subsidy programmes-changes in budgetary scale, tax substitution and expenditure substitution. The model is then extended to an open economy-the so-called "two by two by two"--to consider both the normative effect of inte

Download or read book A General Equilibrium Approach to the Analysis of Monetary and Fiscal Policies written by Andrew Feltenstein and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We construct a general equilibrium model of an open economy and develop a computational technique for deriving a market-clearing solution to the model. The model allows for disaggregated commodities, taxes, and tariffs. It includes a government that is an active participant in the economy as a producer of public goods. The main innovation of the paper is to incorporate financial assets. Current general equilibrium models that do permit the inclusion of non-neutral financial assets are unable to cope with large numbers of commodities and differentiated taxes.