Download or read book Public Goods Through Taxation in a General Equilibrium Economy written by Juergen Huber and published by . This book was released on 2015 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use a laboratory experiment to compare general equilibrium economies in which agents individually allocate their private goods among consumption, investment in production and maintenance of a depreciating public facility. The public facility is financed either by voluntary anonymous contributions (VAC) or taxes. We find that rates of taxation chosen by majority vote remain at an intermediate level, converging neither to zero nor to 100%, and the experimental economies sustain public goods at levels between the finite- and infinite-horizon optima. This contrasts with a rapid decline of public goods under voluntary anonymous contributions (VAC). Both the payoff efficiency and production of private goods are higher when taxes are set endogenously instead of being fixed at the optimum level. When subjects choose between VAC and taxation, 23 out of 24 majority votes favor taxation.
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 Taxation and Public Goods written by Herbert J. Kiesling and published by University of Michigan Press. 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 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 Costs of Taxation and the Benefits of Public Goods written by Will Martin and published by World Bank Publications. This book was released on 2005 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fact that raising taxes can increase taxed labor supply through income effects is frequently used to justify much lower measures of the marginal welfare cost of taxes and greater public good provision than indicated by traditional, compensated analyses. The authors confirm that this difference remains substantial with newer elasticity estimates, but show that either compensated or uncompensated measures of the marginal cost of funds can be used to evaluate the costs of taxation-and will provide the same result-as long as the income effects of both taxes and public good provision are incorporated in a consistent manner.
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 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 Public goods and decentralization written by Pieter H.M. Ruys and published by Springer. This book was released on 2012-04-15 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: The introduction of public goods into economic theory has recently received substantial attention from economists. Both the increasing significance of public goods and the deficiencies of the private goods-oriented allocation mechanisms call for a re orientation of the classical general equilibrium models such as the one designed by Walras exactly a century ago. Although several approaches to this problem are possible, the duality approach seems to be very fruitful. In this study, Dr. Ruys applies and develops the mathematical theory of polarity to gain a deeper insight into the economic theory of value. He not only uses the duality approach to simplify formal proofs related to public goods, but he also gives an interpretation to the application of polarity operations which goes far, beyond its formal significance. This study is in a way closely related to the publication 'Axiomatic choice models' by Dr. H. N. Weddepohl, which is volume 3 of the Tilburg Studies on Economics.
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 Public Finance written by Richard W. Tresch and published by Academic Press. This book was released on 2002-05-08 with total page 976 pages. Available in PDF, EPUB and Kindle. Book excerpt: Featuring a general equilibrium framework that is both cohesive and versatile, the Second Edition of Public Finance: A Normative Theory brings new and updated information to this classic text. Through its concentration on the microeconomic theory of the public sector in the context of capitalist market economics it addresses the subjects traditionally at the heart of public sector economics, including public good theory, theory of taxation, welfare analysis, externalities, tax incidence, cost benefit analysis, and fiscal federalism. Its goal of providing a foundation, rather than attempting to present the most recent scholarship in detail, makes this Second Edition both a valuable text and a resource for professionals. * Second edition provides new and updated information * Focuses on the heart of public sector economics, including public expenditure theory and policy, tax theory and policy, cost benefit-analysis, and fiscal federalism * Features a cohesive and versatile general equilibrium framework
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 Public goods and decentralization written by Pieter H.M. Ruys and published by Springer. This book was released on 2014-01-14 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The introduction of public goods into economic theory has recently received substantial attention from economists. Both the increasing significance of public goods and the deficiencies of the private goods-oriented allocation mechanisms call for a re orientation of the classical general equilibrium models such as the one designed by Walras exactly a century ago. Although several approaches to this problem are possible, the duality approach seems to be very fruitful. In this study, Dr. Ruys applies and develops the mathematical theory of polarity to gain a deeper insight into the economic theory of value. He not only uses the duality approach to simplify formal proofs related to public goods, but he also gives an interpretation to the application of polarity operations which goes far, beyond its formal significance. This study is in a way closely related to the publication 'Axiomatic choice models' by Dr. H. N. Weddepohl, which is volume 3 of the Tilburg Studies on Economics.
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 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 General Equilibrium with Local Public Goods written by Josep Baiges Planas and published by . This book was released on 1984 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt:
