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Public Finance and Public Policy

Public Finance and Public Policy - 05 edition

Public Finance and Public Policy - 05 edition

ISBN13: 9780716786559

ISBN10: 0716786559

Public Finance and Public Policy by Jonathan Gruber - ISBN 9780716786559
Edition: 05
Copyright: 2005
Publisher: Worth Publishers, Inc.
International: No
Public Finance and Public Policy by Jonathan Gruber - ISBN 9780716786559

ISBN13: 9780716786559

ISBN10: 0716786559

Edition: 05

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In the past twenty years, the field of public finance has undergone a dramatic evolution, with a growing interest in the study of transfer programs and social insurance. The field has also moved from predominantly theoretic approaches to putting more emphasis on high-quality empirical work, both in the traditional areas of tax and direct spending and in the newer areas of transfer programs and social insurance. Jonathan Gruber's Public Finance and Public Policy is the first text to acknowledge those changes. Written specifically with those developments in mind, it brings the realities of contemporary public finance to the classroom in ways no other text can match.

Table of Contents

Table of Contents


1. Why Study Public Finance?

The Four Questions of Public Finance
Why Study Public Finance? Facts on Government in the U.S. and Around the World
Why Study Public Finance Now? Policy Debates over Social Security, Health Care, and Education

2. Theoretical Tools of Public Finance

Constrained Utility Maximization
Putting the Tools to Work: TANF and Labor Supply Among Single Mothers
Equilibrium and Social Welfare
Welfare Implications of Benefit Reductions: The TANF Example Continued
Appendix: The Mathematics of Utility Maximization

3. Empirical Tools of Public Finance

The Important Distinction between Correlation and Causality
Measuring Causality with Data We'd Like To Have: Randomized Trials
Estimating Causation with Data We Actually Get: Behavioral Observations
Appendix: Cross-sectional Regression Analysis Example

4. Tools of Budget Analysis

Federal Budgeting
Do Debts and Deficits Mean Anything? A Long Run Perspective
Why Do We Care About the Government's Fiscal Position?


5. Externalities: Problems and Solutions

Externality Theory
Private Sector Solutions to Externalities
Public Sector Solutions to Externalities
Distinctions between Price and Quantity Approaches to Regulation

6. Externalities in Action: Environmental and Health Externalities

Acid Rain
Global Warming
The Economics of Smoking
The Externalities of Other Addictive Behaviors

7. Public Goods: Problems and Solutions

Optimal Provision of Public Goods
Private Provision of Public Goods
Public Provision with Private Provision
Appendix: Mathematics of Public Goods

8. Cost/Benefit Analysis

Measuring the Benefits of Public Goods
Measuring the Costs of Public Goods
Putting it all Together: Cost/Benefit Comparisons

9. Implementing Public Goods: Political Economy and Public Choice

Optimal Financing of Public Goods and its Problems
Mechanisms for Aggregating Individual Preferences
Representative Democracy and the Median Voter Theory
Public Choice Theory: The Foundations of Government Failure

10. State and Local Government Expenditures

Fiscal Federalism in the U.S. and Abroad
Optimal Fiscal Federalism
Should We Redistribute Across Communities? Intergovernmental Grants

11. Public Goods in Action: Education

Why Should the Government be Involved in Education?
How Should the Government be Involved in Education? Crowding Out and Vouchers
Measuring the Returns to Education
The Role of the Government in Higher Education


12. Social Insurance

What is Insurance and Why do Individuals Value it?
Why Have Social Insurance?
Social Insurance vs. Self-Insurance: How Much Consumption Smoothing?
The Problem with Insurance: Moral Hazard
Putting it All Together: Optimal Social Insurance
Appendix: Expected Utility Model and Adverse Selection

13. Social Security

What is Social Security and How Does It Work?
Consumption Smoothing Benefits of Social Security
Social Security and Retirement
Social Security Reform

14. Unemployment Insurance, Workers' Compensation and Disability Insurance

Institutional Features of UI, WC and DI
Consumption Smoothing Benefits of Social Insurance Programs
Moral Hazard Effects of Social Insurance Programs
The Costs and Benefits of Social Insurance to Firms
Implications for Program Reform
Appendix: Quasi-experimental Estimates of the Effects of UI

15. Health Insurance I: Health Economics and Private Health Insurance

An Overview of Health Care in the U.S.
The Efficiency Costs of Health Insurance: Patient-side Moral Hazard
The Efficiency Costs of Health Insurance: Provider-side Moral Hazard

16. Health Insurance II: Medicare and Medicaid

The Medicaid Program for Low Income Mothers and Children
What are the Effects of the Medicaid Program
The Medicare Program
What are the Effects of the Medicare Program?
Long Term Care
Lessons for Health Care Reform in the U.S.

17. Income Distribution and Welfare

Why Redistribute?
Welfare Policy in the U.S.
The Costs of Welfare Policy
Reforming Welfare


18. Taxation in the U.S. and Around the World

Types of Taxation in the U.S. and Other Nations
Basic Structure of the Income Tax in the U.S.
Measuring the Distributional Properties of Tax Systems
Defining the Income Tax Base
Externality/Public Goods Rationales for Deviating from Haig-Simons
The Appropriate Unit of Taxation

19. The Equity Implications of Taxation--Tax Incidence

The Three Rules of Tax Incidence
Tax Incidence Extensions
General Equilibrium Tax Incidence
The Incidence of Taxation in the U.S.
Appendix: The Mathematics of Tax Incidence

20. Tax Inefficiencies and Their Implications for Optimal Taxation

Taxation and Economic Efficiency
Optimal Commodity Taxation
Optimal Income Taxation
Tax/Benefit Linkages and the Financing of Social Insurance Programs
Appendix: The Mathematics of Optimal Taxation

21. Taxes on Labor Supply

Taxation and Labor Supply: Theory
Taxation and Labor Supply: Evidence
Tax Incentives and Labor Supply Decisions: The Earned Income Tax Credit
The Tax Treatment of Child Care Expenditures

22. Taxation of Savings

Taxation of Savings: Theory
Taxation of Savings: Evidence
Tax Incentive for Savings

23. Taxes on Risk Taking and Wealth

Taxation and Risk-Taking: Theory and Evidence
Tax Evasion
Capital Gains Taxation
Estate Taxation
Property Taxation

24. Issues of Corporate Taxation

What are Corporations and Why Do We Tax Them?
The Structure of the Corporate Tax
The Efficiency Consequences of the Corporate Tax--Investment
Treatment of International Corporate Income
The Efficiency Consequences of the Corporate Tax--Financing

25. Tax Reform

Tax Rates and Tax Revenues
Tax Simplicity
Tax Reform Dynamics: The Politics of Tax Reform
Consumption Taxation and Other Fundamental Tax Reforms

Other Editions of Public Finance and Public Policy

Public Finance and Public Policy by Jonathan Gruber - ISBN 9780716766315