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Author : Louis Kaplow
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (634 download)
Download or read book The Optimal Supply of Public Goods and the Distortionary Cost of Taxation written by Louis Kaplow and published by . This book was released on 1997 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Louis Kaplow
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (389 download)
Download or read book A Note on the Optimal Supply of Public Goods and the Distortionary Cost of Taxation written by Louis Kaplow and published by . This book was released on 1998 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Comments on "The Optimal Supply of Public Goods and the Distortionary Cost of Taxation" by Louis Kaplow (National Tax Journal, 1996, 513-32) written by and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yew-Kwang Ng
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Optimal Size of Public Spending and the Distortionary Cost of Taxation written by Yew-Kwang Ng and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Feldstein (1997) reviews his and others' contributions in the distortionary costs of taxation, arriving at a remarkable estimate that the cost per incremental dollar of government spending is a very high $2.65. Kaplow (1996) argues that it is optimal to supply a public good whenever the benefit/cost ratio exceeds one, contrary to the orthodox position since Pigou (1928) that the benefits of public goods must exceed their direct costs by an amount sufficient to outweigh the distortionary costs of taxation. This paper largely reconciles these two apparently opposing positions. The large distortionary costs exist on the revenue side but is largely offset by the negative distortionary costs or distributional gain on the spending side. However, both Kaplow's and Feldstein's arguments have to be subject to important qualifications. Additional arguments relevant to the central public finance question "How big should the public spending be?" are also reviewed. The prevalence of environmental disruption effects, the existence of burden-free taxes on diamond goods, and the importance of relative-income effects all favor the lowering of the required benefit/cost ratio for public goods and, as a rule, more public spending. The reason for the difference between the existence of distortion (in comparison to a lumpsum tax) as emphasized by Browning and Liu (1998) and the unitary marginal cost of public fund is also explained graphically.
Author : Cristian F. Sepulveda
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (838 download)
Download or read book Public Goods, Labor Supply and the Source of Economic Distortions written by Cristian F. Sepulveda and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Charles L. Ballard
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (114 download)
Download or read book Distortionary Taxes and the Provision of Public Goods written by Charles L. Ballard and published by . This book was released on 1990 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: When comparing marginal costs and benefits of a public project, most economists think in terms of adding together the marginal costs of production plus marginal costs of additional distortionary taxation. This paper clarifies how the "revenue effect" offsets the "distortionary effect." For Cobb-Douglas utility with a marginal increase in a proportional wage tax, they exactly offset each other and the Samuelson rule is unaffected. Also, with a preexisting wage tax, an incremental lump-sum tax has only this "revenue effect:" it increases labor supply, increases tax revenue from the preexisting wage tax, and thus makes the project easier to fund. In our numerical example, the incremental lump-sum tax costs taxpayers only $.77 per dollar raised.
Author : Thomas Gaube
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (246 download)
Download or read book When Do Distortionary Taxes Reduce the Optimal Supply of Public Goods? written by Thomas Gaube and published by . This book was released on 1998 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Claus Thustrup Kreiner
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Optimal Provision of Public Goods written by Claus Thustrup Kreiner and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The standard approach to the optimal provision of public goods highlights the importance of distortionary taxation and distributional concerns. A new approach neutralizes distributional concerns by adjusting the income tax schedule. We demonstrate that both approaches are derived from the same basic formula. We also take the new approach further by deriving an intuitive formula for the optimal level of public goods, without imposing strong assumptions on preferences. This formula shows that distortionary taxation has a role to play, as in the standard approach. However, the main determinants of optimal provision are different, and the modified Samuelson rule is likely to lead to underprovision.
Author : Stuart Adam
Publisher : Oxford University Press
ISBN 13 : 0199553742
Total Pages : 552 pages
Book Rating : 4.1/5 (995 download)
Download or read book Tax By Design written by Stuart Adam and published by Oxford University Press. This book was released on 2011-09 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on the findings of a commission chaired by James Mirrlees, this volume presents a coherent picture of tax reform whose aim is to identify the characteristics of a good tax system for any open developed economy, assess the extent to which the UK tax system conforms to these ideals, and recommend how it might be reformed in that direction.
Author : Ms.Jenny Elisabeth Ligthart
Publisher : International Monetary Fund
ISBN 13 : 145185661X
Total Pages : 29 pages
Book Rating : 4.4/5 (518 download)
Download or read book Optimal Fiscal Policy and the Environment written by Ms.Jenny Elisabeth Ligthart and published by International Monetary Fund. This book was released on 1998-09-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Mervyn A. King
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (134 download)
Download or read book A Pigovian Rule for the Optimum Provision of Public Goods written by Mervyn A. King and published by . This book was released on 1985 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Author : James E. Anderson
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (13 download)
Download or read book Costs of Taxation and Benefits of Public Goods with Multiple Taxes and Goods written by James E. Anderson and published by . This book was released on 2017 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent public economics literature involves an apparent consensus that income effects reduce the costs of raising revenues and hence increase the desirable level of public good provision. Higher taxes can indeed reduce the demand for leisure -- and hence increase the supply of taxed labor -- through income effects. However, the consensus is wrong because the income effects of taxes must be considered symmetrically with those from provision of public goods. This paper uses a model with multiple public goods and taxes to derive consistent measures of the marginal benefits of publicly-provided goods and their marginal social costs. With this model, the authors show that either compensated approaches excluding these income effects or uncompensated approaches including them may be used. If an uncompensated measure of the marginal cost of funds is used, however, the benefits of providing public goods should be adjusted with a simple, benefit multiplier not previously seen in the literature. Once this is done, the optimal level of public provision is independent of whether compensated or uncompensated approaches are used. Proper accounting for these income effects -- or their omission using a compensated approach -- appears to substantially raise the hurdle for government provision where there are substantial taxes bearing on labor.
Author : James E. Anderson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (665 download)
Download or read book Costs of Taxation and Benefits of Public Goods with Multiple Taxes and Goods written by James E. Anderson and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter B. Dixon
Publisher : Newnes
ISBN 13 : 0444536353
Total Pages : 1143 pages
Book Rating : 4.4/5 (445 download)
Download or read book Handbook of Computable General Equilibrium Modeling written by Peter B. Dixon and published by Newnes. This book was released on 2013-11-14 with total page 1143 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy
Author : Louis Kaplow
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (848 download)
Download or read book On the (ir)relevence of Distribution and Labor Supply Distortion of Government Policy written by Louis Kaplow and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should the assessment of government policies, such as the provision of public goods and the control of externalities, deviate from first-best principles to account for distributive effects and for the distortionary cost of labor income taxation? For example, is the optimal extent of public goods provision smaller than indicated by the Samuelson rule because finance is distortionary? Or should environmental regulations fail to internalize externalities fully if the incidence of the regulations is regressive? It is suggested that these questions are best addressed by considering distribution-neutral implementation, in which budget balance is achieved by choosing an adjustment to the income tax that offsets the distributive impact of the policy in question. In basic cases, both distribution and labor supply distortion are moot because the target policy and the tax adjustment produce offsetting effects on each. Thus, traditional first-best principles provide good benchmarks for policy analysis after all. Moreover, even when actual implementation will not be distribution neutral in aggregate, distribution-neutral policy analysis has many conceptual and practical virtues that render it quite useful to investigators.
Author : Louis Kaplow
Publisher :
ISBN 13 :
Total Pages : 17 pages
Book Rating : 4.:/5 (249 download)
Download or read book On the (ir)relevance of Distribution and Labor Supply Distortion to Government Policy written by Louis Kaplow and published by . This book was released on 2004 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should the assessment of government policies, such as the provision of public goods and the control of externalities, deviate from first-best principles to account for distributive effects and for the distortionary cost of labor income taxation? For example, is the optimal extent of public goods provision smaller than indicated by the Samuelson rule because finance is distortionary? Or should environmental regulations fail to internalize externalities fully if the incidence of the regulations is regressive? It is suggested that these questions are best addressed by considering distribution-neutral implementation, in which budget balance is achieved by choosing an adjustment to the income tax that offsets the distributive impact of the policy in question. In basic cases, both distribution and labor supply distortion are moot because the target policy and the tax adjustment produce offsetting effects on each. Thus, traditional first-best principles provide good benchmarks for policy analysis after all. Moreover, even when actual implementation will not be distribution neutral in aggregate, distribution-neutral policy analysis has many conceptual and practical virtues that render it quite useful to investigators.
Author : Ted Bergstrom
Publisher :
ISBN 13 :
Total Pages : 11 pages
Book Rating : 4.:/5 (32 download)
Download or read book Benefit-cost Analysis and Distortionary Taxes written by Ted Bergstrom and published by . This book was released on 1993 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
