A Pigovian Rule For The Optimum Provision Of Public Goods
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A Pigovian Rule For The Optimum Provision Of Public Goods
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Author : Mervyn A. King
language : en
Publisher:
Release Date : 1985
A Pigovian Rule For The Optimum Provision Of Public Goods written by Mervyn A. King and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Expenditures, Public categories.
The integrated treatant of optimal taxation and public expenditure presented here is based on the dual relationship between the prices of private goods and the quantities of public goods. In this paper we derive analogues of Roy's identity and the Slutsky equation for the case of public goods. The optimal provision of public goods and the level of taxation are shown to be dual problems.The conditions for optimum public good provision can be expressed as a ndification of the Samuelson conditions with extra terms representing (a) the distortionary effect of taxes on the willingness to pay for the public good, and (b) distributional effects.The former captures Pigou's notion of the indirect daniage caused by the need to finance public expenditure out of distortionary taxes, and we call this the "Pigou term". In certain cases a very simple benefit-cost ratio for public projects emerges that is equivalent to measuring benefits as if they were taxed
A Pigovian Rule For The Optimum Provision Of Public Goods
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Author :
language : en
Publisher:
Release Date : 1985
A Pigovian Rule For The Optimum Provision Of Public Goods written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with categories.
Optimal Fiscal Policy And The Environment
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Author : Ms.Jenny Elisabeth Ligthart
language : en
Publisher: International Monetary Fund
Release Date : 1998-09-01
Optimal Fiscal Policy And The Environment written by Ms.Jenny Elisabeth Ligthart and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-09-01 with Business & Economics categories.
The paper studies the setting of optimal fiscal policy in a second-best world with environmental externalities. The optimal second-best pollution tax is shown to lie below the first-best Pigovian tax, particularly if substitution between labor and polluting intermediate inputs is easy, the labor supply curve is more elastic, and preexisting taxes are large. The optimal level of public abatement is derived from the modified Samuelson rule and is larger if society cares more for the environment, public funds are inexpensive, and public abatement is relatively productive. The analysis also shows that the Samuelson rule should be revised if allowance is made for nonseparabilities in preferences.
The Handbook Of Global Shadow Banking Volume I
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Author : Luc Nijs
language : en
Publisher: Springer Nature
Release Date : 2020-06-30
The Handbook Of Global Shadow Banking Volume I written by Luc Nijs and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-30 with Business & Economics categories.
This global handbook provides an up-to-date and comprehensive overview of shadow banking, or market-based finance as it has been recently coined. Engaging in financial intermediary services outside of normal regulatory parameters, the shadow banking sector was arguably a critical factor in causing the 2007-2009 financial crisis. This volume focuses specifically on shadow banking activities, risk, policy and regulatory issues. It evaluates the nexus between policy design and regulatory output around the world, paying attention to the concept of risk in all its dimensions—the legal, financial, market, economic and monetary perspectives. Particular attention is given to spillover risk, contagion risk and systemic risk and their positioning and relevance in shadow banking activities. Newly introduced and incoming policies are evaluated in detail, as well as how risk is managed, observed and assessed, and how new regulation can potentially create new sources of risk. Volume I concludes with analysis of what will and still needs to happen in the event of another crisis. Proposing innovative suggestions for improvement, including a novel Pigovian tax to tame financial and systemic risks, this handbook is a must-read for professionals and policy-makers within the banking sector, as well as those researching economics and finance.
Fiscal Policy In Dynamic Economies
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Author : Kim Heng Tan
language : en
Publisher: Routledge
Release Date : 2016-06-03
Fiscal Policy In Dynamic Economies written by Kim Heng Tan and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-03 with Business & Economics categories.
The role of fiscal policy in short-run macroeconomic stabilization is, by now, well known in the academic literature and in policy circles. However, this focus on the short-run, especially in a democracy, means that much less attention has been paid to the other consequences of the use of fiscal policy. By studying the intergenerational-welfare aspects of fiscal policy, this book deals with some fundamental issues of fiscal policy. Why does public debt tend to rise over time in democracies? Why is there a tendency for government spending on consumption and on social security to grow? Why do governments fail to invest in public capital adequately? Should a dollar transferred from the young be treated as a dollar transferred to the old? By studying the international aspects of fiscal policy, the book establishes international differences in fiscal policy as determinants of persistent trade imbalances and international indebtedness. It also considers some basic questions on international transfers and austerity in open economies. What criteria should be used to define a successful foreign-aid programme? Why is foreign aid likely to fail in a world of global wealth disparity? Can reliance be placed on the international coordination of austerity to improve welfare in the long run? Is austerity accompanied by international transfers superior to austerity unaccompanied by international transfers? This book based on the OLG model fills a gap on fiscal-policy issues in the recent spate of books on overlapping generations.
Public Expenditures And Environmental Protection
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Author : Gunnar S. Eskeland
language : en
Publisher: World Bank Publications
Release Date : 1999
Public Expenditures And Environmental Protection written by Gunnar S. Eskeland and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
Pigou's conjecture was that under costly taxation public expenditures should not reach the point where marginal benefits equal marginal costs. In the treatment here, public expenditures (and environmental protection) may provide public goods for consumption but also collective inputs for production. When the benefits are in production, the cost of funds is irrelevant. Why? Collective inputs benefit goods that are taxed, while for public goods the shadow price of funds reduces provision as if they were.
Public Goods
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Author : Raymond G. Batina
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-01-19
Public Goods written by Raymond G. Batina and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-19 with Business & Economics categories.
A wide-ranging survey of the theory and evidence on public goods, presenting the main literature on public goods, both theoretical and empirical, in a systematic manner. The breadth and depth of the book's coverage extends the existing literature in many ways.
Happiness Concept Measurement And Promotion
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Author : Yew-Kwang Ng
language : en
Publisher: Springer Nature
Release Date : 2021-12-03
Happiness Concept Measurement And Promotion written by Yew-Kwang Ng and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-03 with Business & Economics categories.
This open access book defines happiness intuitively and explores several common conceptual mistakes with regard to happiness. It then moves on to address topical issues including, but not limited to, whether money can buy you happiness, why happiness is ultimately the only thing of intrinsic value, and the various factors important for happiness. It also presents a more reliable and interpersonally comparable method for measuring happiness and discusses twelve factors, from A to L, that are crucial for individual happiness: attitude, balance, confidence, dignity, engagement, family/friends, gratitude, health, ideals, joyfulness, kindness and love. Further, it examines important public policy considerations, taking into account recent advances in economics, the environmental sciences, and happiness studies. Novel issues discussed include: an environmentally responsible happy nation index to supplement GDP, the East Asian happiness gap, a case for stimulating pleasure centres of the brain, and an argument for higher public spending.
Paul A Samuelson
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Author : John Cunningham Wood
language : en
Publisher: Taylor & Francis
Release Date : 2005
Paul A Samuelson written by John Cunningham Wood and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Biography & Autobiography categories.
Samuelson is a key figure in economic thinking. This gathers the essential assessments of this important economist, and provides an unparalleled insight into his lasting impact on economics.
Public Goods And Public Welfare
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Author : John G. Head
language : en
Publisher: Durham, N.C. : Duke University Press, 1974 [i.e. 1975]
Release Date : 1975
Public Goods And Public Welfare written by John G. Head and has been published by Durham, N.C. : Duke University Press, 1974 [i.e. 1975] this book supported file pdf, txt, epub, kindle and other format this book has been release on 1975 with Business & Economics categories.