Public Finance: A Normative Theory / Edition 2

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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

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Editorial Reviews

From the Publisher
"...a detailed introduction to theoretical work on many of the core issues in contemporary public economics. Careful and comprehensive, it will provide readers with an ideal springboard to further research."
James M. Poterba, Mitsui Professor of Economics, Massachusetts Institute of Technology, Cambridge, USA

"... outstanding in the breadth of its coverage, in the quality of exposition, and in the balance between theory and policy... especially good at melding newer approaches to the normative study of the public sector with traditional ones."
Robin Boadway, Queen's University in Kingston, Ontario, Canada

"I have hoped for years that Richard Tresch would revise his Public Finance text. This volume is well worth the wait. It is comprehensive, up-to-date, and very clearly written. It is a natural reading for a graduate course in public finance. It will also serve as a fine reference for specialists in the field."
Harvey Rosen, Department of Economics, Princeton University, Princeton, USA

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Product Details

  • ISBN-13: 9780126990515
  • Publisher: Elsevier Science
  • Publication date: 5/22/2002
  • Edition description: REV
  • Edition number: 2
  • Pages: 950
  • Product dimensions: 9.00 (w) x 6.00 (h) x 2.31 (d)

Meet the Author

Richard Tresch was named Massachusetts Teacher of the Year in 1996 by the Carenegie Foundation for the Advancement of Teaching. An MIT Ph.D., he joined the Boston College faculty and 1969 and has served as Chairman, Director of Graduate Studies, and Director of Undergraduate Studies. He has written widely on public economics
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Table of Contents

Part I: Introduction: The Content and Methodology of Public Sector Theory Introduction to Normative Public Sector Theory A General Equilibrium Model for Public Sector Analysis First-Best and Second-Best Analysis and the Political Economy of Public Sector Economics Part II: The Theory of Public Expenditures and Taxation: First-Best Analysis The Social Welfare Function in Policy Analysis The Problem of Externalities: An Overview Consumption Externalities Production Externalities The US Anti-Pollution Policies: An Application of Externality Theory The Theory of Decreasing Cost Production The First-Best Theory of Taxation Applying First-Best Principles of Taxation: What to Tax and How Part III: The Theory of Public Expenditures and Taxation: Second-Best Analysis Introduction to Second-Best Analysis The Second-Best Theory of Taxation in One-Consumer Economies with Linear Production Technology The Second-Best Theory of Taxation with General Production Technologies and Many Consumers Taxation under Asymmetric Information The Theory and Measurement of Tax Incidence Expenditure Incidence and Economy-Wide Incidence Studies The Second-Best Theory of Public Expenditures--Overview Transfer Payments and Private Information Externalities in a Second-Best Environment Decreasing Costs and the Theory of the Second Best--the Boiteux Problem General Production Rules in a Second-Best Environment Part IV: Cost-Benefit Analysis Introduction--the Issues of Cost-Benefit Analysis The Rate of Discount for Public Investments Uncertainty and the Arrow-Lind Problem Measurement Problems in Cost-Benefit Analysis Cost-Benefit Analysis and the Distribution of Income Common Pitfalls in Cost-Benefit Analysis Part V: Fiscal Federalism Optimal Federalism--Sorting the Functions of Government within the Fiscal Hierarchy Optimal Federalism--The Sorting of People within the Fiscal Hierarchy The Role of Grants-in-Aid in a Federalist System of Government
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