The New Dynamic Public Finance PDF Download

Author: Narayana R. Kocherlakota
Publisher: Princeton University Press
ISBN: 1400835275
Category : Business & Economics
Languages : en
Pages : 230

View

Book Description
Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are bad insofar as they discourage people from working, but good to the degree that, by redistributing wealth, they help insure people against productivity shocks. Until recently, however, economic research on this question either ignored people's uncertainty about their future productivities or imposed strong and unrealistic functional form restrictions on taxes. In response to these problems, the new dynamic public finance was developed to study the design of optimal taxes given only minimal restrictions on the set of possible tax instruments, and on the nature of shocks affecting people in the economy. In this book, Narayana Kocherlakota surveys and discusses this exciting new approach to public finance. An important book for advanced PhD courses in public finance and macroeconomics, The New Dynamic Public Finance provides a formal connection between the problem of dynamic optimal taxation and dynamic principal-agent contracting theory. This connection means that the properties of solutions to principal-agent problems can be used to determine the properties of optimal tax systems. The book shows that such optimal tax systems necessarily involve asset income taxes, which may depend in sophisticated ways on current and past labor incomes. It also addresses the implications of this new approach for qualitative properties of optimal monetary policy, optimal government debt policy, and optimal bequest taxes. In addition, the book describes computational methods for approximate calculation of optimal taxes, and discusses possible paths for future research.

Author: Amy Finkelstein
Publisher: Columbia University Press
ISBN: 0231538685
Category : Medical
Languages : en
Pages : 161

View

Book Description
Addressing the challenge of covering heath care expenses—while minimizing economic risks. Moral hazard—the tendency to change behavior when the cost of that behavior will be borne by others—is a particularly tricky question when considering health care. Kenneth J. Arrow’s seminal 1963 paper on this topic (included in this volume) was one of the first to explore the implication of moral hazard for health care, and Amy Finkelstein—recognized as one of the world’s foremost experts on the topic—here examines this issue in the context of contemporary American health care policy. Drawing on research from both the original RAND Health Insurance Experiment and her own research, including a 2008 Health Insurance Experiment in Oregon, Finkelstein presents compelling evidence that health insurance does indeed affect medical spending and encourages policy solutions that acknowledge and account for this. The volume also features commentaries and insights from other renowned economists, including an introduction by Joseph P. Newhouse that provides context for the discussion, a commentary from Jonathan Gruber that considers provider-side moral hazard, and reflections from Joseph E. Stiglitz and Kenneth J. Arrow. “Reads like a fireside chat among a group of distinguished, articulate health economists.” —Choice

Author: Matti Tuomala
Publisher: Oxford University Press
ISBN: 0191067741
Category : Business & Economics
Languages : en
Pages : 631

View

Book Description
Tax systems raise large amounts of revenue for funding public sector's activities, and tax/transfer policy, together with public provision of education, health care, and social services, play a crucial role in treating the symptoms and the causes of poverty. The normative analysis is crucial for tax/transfer design because it makes it possible to assess separately how changes in the redistributive criterion of the government, and changes in the size of the behavioural responses to taxes and transfers, affect the optimal tax/transfer system. Optimal tax theory provides a way of thinking rigorously about these trade-offs. Written primarily for graduate students and researchers, this volume is intended as a textbook and research monograph, connecting optimal tax theory to tax policy. It comments on some policy recommendations of the Mirrlees Review, and builds on the authors work on public economics, optimal tax theory, behavioural public economics, and income inequality. The book explains in depth the Mirrlees model and presents various extensions of it. The first set of extensions considers changing the preferences for consumption and work: behavioural-economic modifications (such as positional externalities, prospect theory, paternalism, myopic behaviour and habit formation) but also heterogeneous work preferences (besides differences in earnings ability). The second set of modifications concerns the objective of the government. The book explains the differences in optimal redistributive tax systems when governments - instead of maximising social welfare - minimise poverty or maximise social welfare based on rank order or charitable conservatism social welfare functions. The third set of extensions considers extending the Mirrlees income tax framework to allow for differential commodity taxes, capital income taxation, public goods provision, public provision of private goods, and taxation commodities that generate externalities. The fourth set of extensions considers incorporating a number of important real-word extensions such as tagging of tax schedules to certain groups of tax payers. In all extensions, the book illustrates the main mechanisms using advanced numerical simulations.

Author: Andreas Pollak
Publisher: Mohr Siebeck
ISBN: 9783161493041
Category : Business & Economics
Languages : en
Pages : 204

View

Book Description
Designing a good unemployment insurance scheme is a delicate matter. In a system with no or little insurance, households may be subject to a high income risk, whereas excessively generous unemployment insurance systems are known to lead to high unemployment rates and are costly both from a fiscal perspective and for society as a whole. Andreas Pollak investigates what an optimal unemployment insurance system would look like, i.e. a system that constitutes the best possible compromise between income security and incentives to work. Using theoretical economic models and complex numerical simulations, he studies the effects of benefit levels and payment durations on unemployment and welfare. As the models allow for considerable heterogeneity of households, including a history-dependent labor productivity, it is possible to analyze how certain policies affect individuals in a specific age, wealth or skill group. The most important aspect of an unemployment insurance system turns out to be the benefits paid to the long-term unemployed. If this parameter is chosen too high, a large number of households may get caught in a long spell of unemployment with little chance of finding work again. Based on the predictions in these models, the so-called "Hartz IV" labor market reform recently adopted in Germany should have highly favorable effects on the unemployment rates and welfare in the long run.

Author: Keith Banting
Publisher: McGill-Queen's Press - MQUP
ISBN: 1553393287
Category : Political Science
Languages : en
Pages : 443

View

Book Description
Since the inception and design of Canada's Employment Insurance (EI) program, the Canadian economy and labour market have undergone dramatic changes. It is clear that EI has not kept pace with those changes, and experts and advocates agree that the program is no longer effective or equitable. Making EI Work is the result of a panel of distinguished scholars gathered by the Mowat Centre Employment Insurance Task Force to analyze the strengths, weaknesses, and future directions of EI. The authors identify the strengths and weaknesses of the system, and consider how it could be improved to better and more fairly support those in need. They make suggestions for facilitating a more efficient Canadian labour market, and meeting the human capital requirements of a dynamic economy for the present and the foreseeable future. The chapters that comprise Making EI Work informed the task force's final recommendations, and form an engaging dialogue that makes the case for, and defines the parameters of, a reformed support system for Canada's unemployed. Contributors include Ken Battle (Caledon Institute of Social Policy), Robin Boadway (Queen's University), Allison Bramwell (University of Toronto), Sujit Choudhry (New York University School of Law), Kathleen M. Day (University of Ottawa), Ross Finnie (University of Ottawa), Jean-Denis Garon (Queen's University), David Gray (University of Ottawa), Morley Gunderson (University of Toronto), Ian Irvine (Concordia University), Stephen Jones (McMaster University), Thomas R. Klassen (York University), Michael Mendelson (Caledon Institute of Social Policy), Alain Noël (Université de Montréal), Michael Pal (University of Toronto Faculty of Law), W. Craig Riddell (University of British Columbia), William Scarth (McMaster University), Luc Turgeon (University of Ottawa), Leah F. Vosko (York University), Stanley L. Winer (Carleton University), Donna E. Wood (University of Victoria), and Yan Zhang (Statistics Canada).

Author: Alan J. Auerbach
Publisher: Newnes
ISBN: 0444537600
Category : Business & Economics
Languages : en
Pages : 497

View

Book Description
In the Handbook of Public Economics, vol. 5, top scholars provide context and order to new research about mechanisms that underlie both public finance theories and applications. These fundamental subjects follow the recent, steady movement away from rational decision-making and toward more personalized approaches to tax generation and expenditure, especially in terms of the use of psychological methods and financial incentives. Closely scrutinized subjects include new research in empirical (instead of theoretical) public finance, the methods for measuring taxes (both in revenue generation and expenditure), and the roles that taxes play in specific settings, such as emerging economies, urban settings, charitable giving, and among political entities (cities, counties, states, countries). Contributors look at both the "tax" and "expenditure" sides of public finance, emphasizing recent influences that psychology and philosophy have exerted in economics with articles on behavioral finance, charitable giving, and dynamic taxation. To a field enjoying rapid growth, their articles bring context and order, illuminating the mechanisms that underlie both public finance theories and applications. - Editor Raj Chetty is the recipient of the 2013 John Bates Clark Medal from the American Economic Association - Focuses on new approaches to both revenue generation and expenditures in public finance - Presents coherent summaries of subjects in public economics that stretch from methodologies to applications - Makes details about public economics accessible to scholars in fields outside economics

Author: OECD
Publisher: OECD Publishing
ISBN: 9264306943
Category :
Languages : en
Pages : 228

View

Book Description
Social protection systems are often still designed for the archetypical full-time dependent employee. Work patterns deviating from this model – be it self-employment or online "gig work" – can lead to gaps in social protection coverage. Globalisation and digitalisation are likely to exacerbate ...

Author: Maria-Luisa Escobar
Publisher: Rowman & Littlefield
ISBN: 0815705611
Category : Political Science
Languages : en
Pages : 239

View

Book Description
Over the past twenty years, many low- and middle-income countries have experimented with health insurance options. While their plans have varied widely in scale and ambition, their goals are the same: to make health services more affordable through the use of public subsidies while also moving care providers partially or fully into competitive markets. Colombia embarked in 1993 on a fifteen-year effort to cover its entire population with insurance, in combination with greater freedom to choose among providers. A decade later Mexico followed suit with a program tailored to its federal system. Several African nations have introduced new programs in the past decade, and many are testing options for reform. For the past twenty years, Eastern Europe has been shifting from government-run care to insurance-based competitive systems, and both China and India have experimental programs to expand coverage. These nations are betting that insurance-based health care financing can increase the accessibility of services, increase providers' productivity, and change the population's health care use patterns, mirroring the development of health systems in most OECD countries. Until now, however, we have known little about the actual effects of these dramatic policy changes. Understanding the impact of health insurance–based care is key to the public policy debate of whether to extend insurance to low-income populations—and if so, how to do it—or to serve them through other means. Using recent household data, this book presents evidence of the impact of insurance programs in China, Colombia, Costa Rica, Ghana, Indonesia, Namibia, and Peru. The contributors also discuss potential design improvements that could increase impact. They provide innovative insights on improving the evaluation of health insurance reforms and on building a robust knowledge base to guide policy as other countries tackle the health insurance challenge.

Author: Yale Law Journal
Publisher: Quid Pro Books
ISBN: 1610278631
Category : Law
Languages : en
Pages : 372

View

Book Description
The May 2014 issue of The Yale Law Journal features new articles and essays on law and legal theory by internationally recognized scholars. Contents include: • Article, "Illegitimate Borders: Jus Sanguinis Citizenship and the Legal Construction of Family, Race, and Nation," by Kristin Collins • Article, "Legitimacy and Federal Criminal Enforcement Power," by Lauren M. Ouziel • Feature, "The Age of Consent," by Philip C. Bobbitt • Review, "Judging Justice on Appeal," by Marin K. Levy • Note, "The Growth of Litigation Finance in DOJ Whistleblower Suits: Implications and Recommendations," by Mathew Andrews • Note, "Reducing Inequality on the Cheap: When Legal Rule Design Should Incorporate Equity as Well as Efficiency," by Zachary Liscow • Note, "Domestic Violence Asylum After Matter of L-R-," by Jessica Marsden • Comment, "Beating Blackwater: Using Domestic Legislation to Enforce the International Code of Conduct for Private Military Companies," by Reema Shah This quality ebook edition features linked notes, active Contents, active URLs in notes, and proper Bluebook formatting. This May 2014 issue is Volume 123, Number 7.

Author: Simon W. Bowmaker
Publisher: Edward Elgar Publishing
ISBN: 1849808473
Category : Business & Economics
Languages : en
Pages : 519

View

Book Description
ïIn this book, Simon Bowmaker offers a remarkable collection of conversations with leading economists about research in economics. He has selected a broad sample of the great economists of our time, including people whose perspectives span most of the major subdivisions of economics research, from micro to macro, from theoretical to empirical, from rationalist to behavioral.Í _ From the foreword by Roger B. Myerson, University of Chicago, US and 2007 Nobel Laureate in Economics ïThe Art and Practice of Economics Research is the book I wish I had when I was ñgrowing upî as an economist. For anyone who is or wants to be an economic researcher, or anyone just interested in how economics ñworksî, this is a terrific and inspirational resource.Í _ David K. Levine, Washington University in St. Louis, US ïIt is hard to imagine an economist in the world who would not enjoy this book. It is fascinating, gripping, and full of the wisdom imparted by age and by scholarly lifeÍs ups and downs.Í _ Andrew J. Oswald, University of Warwick, UK ïAlthough each has followed his or her own road, these scholars share a passion for economics and a commitment to the research enterprise. The best economists lie sleepless, gripped by their questions.Í _ Joshua Angrist, Massachusetts Institute of Technology, US ïThis is a wonderful book of interviews with some of the most respected economists in the world. It is full of insights into academic life, and clearly conveys the joy of doing economics research.Í _ Jon Levin, Stanford University, US ïThe relaxed frame of the interviews gives interested parties exciting insights into the thoughts and concerns of leading economists and might well inspire some of the best young minds to continue with economics in their later lives.Í _ Ernst Fehr, University of Zurich, Switzerland The Art and Practice of Economics Research provides an in-depth look into the research methods of leading economists from across the United States and Europe. This innovative volume contains 25 interviews with practicing economists, presenting insightful personal accounts into an often-misunderstood field. Contributors to this volume were asked to reflect on their own experience in economics research, including their methods of working, the process of scientific discovery and knowledge creation, and the challenges of successfully disseminating their work. The unique and compelling interview format showcases each contributorÍs personal connection to his or her work, presenting a view of current economics research that is technical, comprehensive, and refreshingly human. Both students and current scholars in economics will find much to admire in this bookÍs window into the inner workings of some of the brightest and best-known minds in the field. This volume would also make a great companion to the authorÍs 2010 book, The Heart of Teaching Economics, which showcases the personal experiences of teachers and professors of economics.