description: Public economics studies how government taxing and spending activities affect theeconomy--economic efficiency and the distribution of income and wealth. This comprehensive text inpublic economics covers the core topics market failure and taxation as well as recent developmentsin the political economy and public choice literatures. It is unique not only in its broad scope butin its balance between public finance and public choice and its combination of theory and relevantempirical evidence.After introducing the theory and methodology of public economics and reviewingthe efficiency of the competitive equilibrium, the book presents a historical and theoreticaloverview of the public sector. It then discusses departures from efficiency, including imperfectcompetition and asymmetric information; issues in political economy, including rent-seeking (a topicoften omitted from other texts); equity; taxation issues, including tax evasion and itsconsequences; fiscal federalism and tax competition among independent jurisdictions; and theintertemporal issues of social security and economic growth.This text introduces the reader to thetheory of public economics and the most significant results of the analysis, providing an overviewof the current state of the field. It is accessible to anyone with a background of intermediatemicroeconomics and macroeconomics and can be used in advanced undergraduate as well as graduatecourses. Although the mathematics has been kept to a minimum, the book remains analytical ratherthan discursive. Annotated suggestions for further reading and numerous exercises are included atthe end of each chapter.
language: English
title: Intermediate Public Economics
titlecomplete: Intermediate Public Economics
genres: Economics
ratings_count: 19
publisher: Mit Pr