Description

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.

Key Features

* 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

Readership

Advanced undergraduate and graduate students enrolled in courses in public finance and public economics.

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 Co

Details

No. of pages:
950
Language:
English
Copyright:
© 2002
Published:
Imprint:
Academic Press
eBook ISBN:
9780080515410
Print ISBN:
9780126990515

About the authors

Richard Tresch

Professor Richard W. Tresch earned a bachelor's degree from Williams College in 1965 and a doctorate in economics in 1973 from Massachusetts Institute of Technology, where he was a teaching assistant prior to his arrival at Boston College. He joined the Boston College faculty in 1969 and throughout his 43-year career has served as Chairman of the Department of Economics, Director of Graduate Studies, and Director of Undergraduate Studies. In 1996, chosen as Massachusetts Professor of the Year by the Carnegie Foundation for the Advancement of Teaching. He was one of 585 national entrants in the foundation's US Professors of the Year Program, which salutes outstanding undergraduate instructors; its award is recognized as one of the most prestigious honors bestowed upon professors. "I am quite humbled by the award, and extremely grateful to the Carnegie Foundation," Tresch said. "The greatest honor, however, is to have been nominated by Boston College. There are so many good teachers here and to be chosen to represent them in the program is something I truly value." A member of the American Economic Association, Tresch served on the board of editors for the American Economic Review, and has contributed to New England Journal of Business and Economics and Public Finance. He is the editor of a four-volume major reference work on public sector economics. The third edition on his textbook, Public Finance: A Normative Theory publishes in November, 2014.

Affiliations and Expertise

Boston College, Massachusetts, U.S.A.

Richard Tresch

Professor Richard W. Tresch earned a bachelor's degree from Williams College in 1965 and a doctorate in economics in 1973 from Massachusetts Institute of Technology, where he was a teaching assistant prior to his arrival at Boston College. He joined the Boston College faculty in 1969 and throughout his 43-year career has served as Chairman of the Department of Economics, Director of Graduate Studies, and Director of Undergraduate Studies. In 1996, chosen as Massachusetts Professor of the Year by the Carnegie Foundation for the Advancement of Teaching. He was one of 585 national entrants in the foundation's US Professors of the Year Program, which salutes outstanding undergraduate instructors; its award is recognized as one of the most prestigious honors bestowed upon professors. "I am quite humbled by the award, and extremely grateful to the Carnegie Foundation," Tresch said. "The greatest honor, however, is to have been nominated by Boston College. There are so many good teachers here and to be chosen to represent them in the program is something I truly value." A member of the American Economic Association, Tresch served on the board of editors for the American Economic Review, and has contributed to New England Journal of Business and Economics and Public Finance. He is the editor of a four-volume major reference work on public sector economics. The third edition on his textbook, Public Finance: A Normative Theory publishes in November, 2014.

Affiliations and Expertise

Boston College, Massachusetts, U.S.A.