Test Bank for Public Finance 10th Edition by Harvey Rosen, Ted Gayer – Ebook PDF Instant Download/Delivery: 0078021685 978-0078021688
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ISBN 10: 0078021685
ISBN 13: 978-0078021688
Author:Harvey Rosen, Ted Gayer
Public Finance benefits from the combined efforts of Harvey Rosen’s market-leading book and co-author Ted Gayer’s research and government agency experience. This combination of experience is able to explain as clearly as possible how the tools of economics can be used to analyze government expenditure and tax policies. This new edition incorporates recent developments and along the way takes students to the frontiers of current research and policy. While the information presented is cutting edge and reflects the work of economists currently active in the field, the approach makes the text accessible to undergraduates whose only prior exposure to economics is at the introductory level.
All of the changes in the Tenth edition were made to further the authors’ goal of providing students with a clear and coherent view of the role of government spending and taxation. The authors’ years of policy experience have convinced themselves that modern public finance provides a practical and invaluable framework for thinking about policy issues. The goal is simple: to emphasize the links between sound economics and the analysis of real-world policy problems.
Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.
Public Finance 10th Table of contents:
PART I: GETTING STARTED
CHAPTER 1 INTRODUCTION
Public Finance and Ideology
Organic View of Government
Mechanistic View of Government
Viewpoint of This Book
Government at a Glance
The Legal Framework
The Size of Government
Expenditures
Revenues
Our Agenda
Summary
Discussion Questions
Appendix: Doing Research in Public Finance
CHAPTER 2 TOOLS OF POSITIVE ANALYSIS
The Role of Theory
Causation versus Correlation
Experimental Studies
Conducting an Experimental Study
Pitfalls of Experimental Studies
Observational Studies
Conducting an Observational Study
Pitfalls of Observational Studies
Quasi-Experimental Studies
Conducting a Quasi-Experimental Study
Pitfalls of Quasi-Experimental Studies
Conclusions
Summary
Discussion Questions
CHAPTER 3 TOOLS OF NORMATIVE ANALYSIS
Welfare Economics
Pure Economy Exchange
Production Economy
The First Fundamental Theorem of Welfare Economics
Fairness and the Second Fundamental Theorem of Welfare Economics
Market Failure
Market Power
Nonexistence of Markets
Overview
Buying into Welfare Economics
Summary
Discussion Questions
PART II: PUBLIC EXPENDITURE: PUBLIC GOODS AND EXTERNALITIES
CHAPTER 4 PUBLIC GOODS
Public Goods Defined
Efficient Provision of Public Goods
Deriving the Efficiency Condition
Problems in Achieving Efficiency
The Free Rider Problem
Privatization
Public versus Private Provision
Public versus Private Production
Public Goods and Public Choice
Summary
Discussion Questions
CHAPTER 5 EXTERNALITIES
The Nature of Externalities
Graphical Analysis
Implications
Conclusion
Private Responses
Bargaining and the Coase Theorem
Mergers
Social Conventions
Public Responses to Externalities: Taxes and Subsidies
Taxes
Subsidies
Public Responses to Externalities: Emissions Fees and Cap-and-Trade Programs
Emissions Fee
Cap-and-Trade
Emissions Fee versus Cap-and-Trade
Command-and-Control Regulation
The Us Response
Progress with Incentive-Based Approaches
Implications for Income Distribution
Who Benefits?
Who Bears the Cost?
Positive Externalities
A Cautionary Note
Summary
Discussion Questions
CHAPTER 6 POLITICAL ECONOMY
Direct Democracy
Unanimity Rules
Majority Voting Rules
Logrolling
Arrow’s Impossibility Theorem
Representative Democracy
Elected Politicians
Public Employees
Special Interests
Other Actors
Explaining Government Growth
Conclusion
Summary
Discussion Questions
CHAPTER 7 EDUCATION
Justifying Government Intervention in Education
Is Education a Public Good?
Does Education Generate Positive Externalities?
Is the Education Market Inequitable?
What Can Government Intervention in Education Accomplish?
Does Government Intervention Crowd Out Private Education?
Does Government Spending Improve Educational Outcomes?
Public Spending and the Quality of Education
Does Education Increase Earnings?
New Directions for Public Education
Charter Schools
Vouchers
School Accountability
Summary
Discussion Questions
CHAPTER 8 COST-BENEFIT ANALYSIS
Present Value
Projecting Present Dollars into the Future
Projecting Future Dollars into the Present
Inflation
Private Sector Project Evaluation
Internal Rate of Return
Benefit-Cost Ratio
Discount Rate for Government Projects
Rates Based on Returns in the Private Sector
Social Discount Rate
Discounting and the Economics of Climate Change
Government Discounting in Practice
Valuing Public Benefits And Costs
Market Prices
Adjusted Market Prices
Consumer Surplus
Inferences from Economic Behavior
Valuing Intangibles
Games Cost-Benefit Analysts Play
The Chain-Reaction Game
The Labor Game
The Double-Counting Game
Distributional Considerations
Uncertainty
An Application: Are Reductions in Class Size Worth It?
Discount Rate
Costs
Benefits
The Bottom Line and Evaluation
Use (and Nonuse) by Government
Summary
Discussion Questions
Appendix: Calculating the Certainty Equivalent Value
PART III: PUBLIC EXPENDITURE: SOCIAL INSURANCE AND INCOME MAINTENANCE
CHAPTER 9 THE HEALTH CARE MARKET
What’s Special about Health Care?
The Role of Insurance
The Role of Risk Pooling
Adverse Selection in the Health Insurance Market
Insurance and Moral Hazard
Other Information Problems in the Health Care Market
Externalities of Health Care
Do We Want Efficient Provision of Health Care?
Paternalism
The Problem of the Uninsured
High Health Care Costs
Summary
Discussion Questions
CHAPTER 10 GOVERNMENT AND THE MARKET FOR HEALTH CARE
Private Health Insurance
The Implicit Subsidy for Employer-Provided Insurance
The Advantages of Employer-Provided Health Insurance
Employer-Provided Health Insurance and Job Lock
Cost Control and Private Insurance
Government Provision of Health Insurance: Medicare and Medicaid
Medicare: Overview
Cost Control under Medicare
Medicare: Impacts on Spending and Health
Medicaid: Overview
Medicaid: Impacts on Health
Affordable Care Act of 2010
Alternative Paths to Health Care Reform
Single-Payer Approach
Market-Oriented Approach
Final Thoughts
Summary
Discussion Questions
CHAPTER 11 SOCIAL SECURITY
Why Have Social Security?
Consumption Smoothing and the Annuity Market
Adverse Selection and the Annuity Market
Other Justifications
Structure of Social Security
Basic Components
Distributional Issues
The Trust Fund
Effects of Social Security on Economic Behavior
Saving Behavior
Retirement Decisions
Implications
Long-Term Stresses on Social Security
Social Security Reform
Maintain the Current System
Privatize the System
Conclusions
Summary
Discussion Questions
CHAPTER 12 INCOME REDISTRIBUTION: CONCEPTUAL ISSUES
Distribution of Income
Interpreting the Distributional Data
Rationales for Income Redistribution
Simple Utilitarianism
The Maximin Criterion
Pareto Efficient Income Redistribution
Nonindividualistic Views
Other Considerations
Expenditure Incidence
Relative Price Effects
Public Goods
Valuing In-Kind Transfers
Reasons for In-Kind Transfers
Conclusion
Summary
Discussion Questions
CHAPTER 13 EXPENDITURE PROGRAMS FOR THE POOR
A Quick Look at Welfare Spending
TANF
Income Maintenance and Work Incentives
The Basic Trade-Offs
Analysis of Work Incentives
Work Requirements
Time Limits
Family Structure
National versus State Administration
The Earned Income Tax Credit
Supplemental Security Income
Medicaid
Unemployment Insurance
Benefits
Financing
Effects on Unemployment
Supplemental Nutrition Assistance Program (SNAP)
Housing Assistance
Programs to Enhance Earnings
Education
Employment and Job Training
Overview
Summary
Discussion Questions
PART IV: FRAMEWORK FOR TAX ANALYSIS
CHAPTER 14 TAXATION AND INCOME DISTRIBUTION
Tax Incidence: General Remarks
Only People Can Bear Taxes
Both Sources and Uses of Income Should Be Considered
Incidence Depends on How Prices Are Determined
Incidence Depends on the Disposition of Tax Revenues
Tax Progressiveness Can Be Measured in Several Ways
Partial Equilibrium Models
Unit Taxes on Commodities
Ad Valorem Taxes
Taxes on Factors
Commodity Taxation without Competition
Profits Taxes
Tax Incidence and Capitalization
General Equilibrium Models
Tax Equivalence Relations
The Harberger Model
Analysis of Various Taxes
Some Qualifications
An Applied Incidence Study
Conclusions
Summary
Discussion Questions
CHAPTER 15 TAXATION AND EFFICIENCY
Excess Burden Defined
Questions and Answers
Excess Burden Measurement with Demand Curves
Preexisting Distortions
The Excess Burden of a Subsidy
The Excess Burden of Income Taxation
Differential Taxation of Inputs
Does Efficient Taxation Matter?
Summary
Discussion Questions
CHAPTER 16 EFFICIENT AND EQUITABLE TAXATION
Optimal Commodity Taxation
The Ramsey Rule
Equity Considerations
Summary
Application: Taxation of the Family
Optimal User Fees
Overview
Optimal Income Taxation
Edgeworth’s Model
Modern Studies
Politics and the Time Inconsistency Problem
Other Criteria for Tax Design
Horizontal Equity
Costs of Running the Tax System
Tax Evasion
Overview
Summary
Discussion Questions
PART V: THE UNITED STATES REVENUE SYSTEM
CHAPTER 17 THE PERSONAL INCOME TAX
Basic Structure
Defining Income
Items Included in H-S Income
Some Practical and Conceptual Problems
Evaluating the H-S Criterion
Excluded Forms of Money Income
Interest on State and Local Bonds
Some Dividends
Capital Gains
Employer Contributions to Benefit Plans
Some Types of Saving
Gifts and Inheritances
Exemptions and Deductions
Exemptions
Deductions
Impact on the Tax Base
Tax Expenditures
The Simplicity Issue
Rate Structure
Effective versus Statutory Rates
Taxes and Inflation
How Inflation Affects Taxes
Tax Indexing
The Alternative Minimum Tax
Choice of Unit and the Marriage Tax
Background
Analyzing the Marriage Tax
Treatment of International Income
State Income Taxes
Summary
Discussion Questions
CHAPTER 18 PERSONAL TAXATION AND BEHAVIOR
Labor Supply
Theoretical Considerations
Some Caveats
Labor Supply and Tax Revenues
Saving
Empirical Evidence
Tax-Preferred Savings Accounts
Taxes and the Capital Shortage
Housing Decisions
Proposals for Change
Portfolio Composition
A Note on Politics and Elasticities
Summary
Discussion Questions
CHAPTER 19 THE CORPORATION TAX
Why Tax Corporations?
Structure
Employee Compensation Deducted
Interest, but Not Dividends, Deducted
Depreciation Deducted
Investment Tax Credit
Treatment of Dividends versus Retained Earnings
Effective Tax Rate on Corporate Capital
Incidence and Excess Burden
A Tax on Corporate Capital
A Tax on Economic Profits
Effects on Behavior
Total Physical Investment
Types of Assets
Corporate Finance
State Corporation Taxes
Taxation of Multinational Corporations
Global versus Territorial Taxation
Corporation Tax Reform
Full Integration
Dividend Relief
Summary
Discussion Questions
CHAPTER 20 DEFICIT FINANCE
How Big Is the Debt?
Interpreting Deficit and Debt Numbers
Summing Up
The Burden of the Debt
One Hand Borrows from the Other
An Overlapping Generations Model
Neoclassical Model
Ricardian Model
Overview
To Tax or to Borrow?
Benefits-Received Principle
Intergenerational Equity
Efficiency Considerations
Deficits and Functional Finance
Federal Debt and the Risk of a Fiscal Crisis
Moral and Political Considerations
Controlling the Deficit
Overview
Summary
Discussion Questions
CHAPTER 21 FUNDAMENTAL TAX REFORM: TAXES ON CONSUMPTION AND WEALTH
Efficiency and Equity of Personal Consumption Taxes
Efficiency Issues
Equity Issues
Retail Sales Tax
Rationalizations
Efficiency and Distributional Implications of State Sales Taxes
A National Retail Sales Tax?
Value-Added Tax
Implementation Issues
A VAT for the United States?
Hall-Rabushka Flat Tax
Cash-Flow Tax
Income versus Consumption Taxation
Advantages of a Consumption Tax
Disadvantages of a Consumption Tax
Problems with Both Systems
Wealth Taxes
Estate and Gift Taxes
Rationales
Provisions
Reforming Estate and Gift Taxes
Prospects for Fundamental Tax Reform
Summary
Discussion Questions
PART VI: MULTIGOVERNMENT PUBLIC FINANCE
CHAPTER 22 PUBLIC FINANCE IN A FEDERAL SYSTEM
Background
Community Formation
The Tiebout Model
Tiebout’s Assumptions
Tiebout and the Real World
Optimal Federalism
Disadvantages of a Decentralized System
Advantages of a Decentralized System
Implications
Public Education in a Federal System
Property Tax
Incidence and Efficiency Effects
Why Do People Hate the Property Tax So Much?
Intergovernmental Grants
Types of Grants
The Flypaper Effect
Overview
Summary
Discussion Questions
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