Discover the keys to personal financial management with the practical, reader-friendly introduction in Garman/Forgue's market-leading PERSONAL FINANCE TAX UPDATE, 13E. This step-by-step approach teaches you how to save and invest, manage student loans, file taxes, decrease credit card debt and plan a strong financial future. The latest financial information throughout this edition incorporates significant changes to the U.S. income tax system with the "Tax Cuts and Jobs Act" of 2018. Memorable scenarios lifted from actual situations depict a variety of financial challenges - showing you the relevance of what you're learning and the importance of advice from trusted personal finance experts. Many math-based examples clearly illustrate how to achieve long-term financial goals through investing. With the latest updates and learning tools, such as an online financial planner in MindTap digital resources, this edition prepares you for personal financial success now and throughout your lifetime.

The microeconomic foundation of the theory of money has long represented a puzzle to economic theory. Why is there Money? derives the foundations of monetary theory from advanced price theory in a mathematically precise family of trading post models. It has long been recognized that the fundamental theoretical analysis of a market economy is embodied in the Arrow-Debreu-Walras mathematical general equilibrium model, with one great deficiency: the analysis cannot accommodate money and financial institutions. In this groundbreaking book, Ross M. Starr addresses this problem directly, by expanding the Arrow-Debreu model to include a multiplicity of trading opportunities, with the resultant endogenous derivation of money as the carrier of value among them. This fundamental breakthrough is achieved while maintaining the Walrasian general equilibrium price-theoretic structure, augmented primarily by the introduction of separate bid and ask prices reflecting transaction costs. The result is foundations of monetary theory consistent with and derived from modern price theory. This fascinating book will provide a stimulating and thought-provoking read for academics and postgraduate students focusing on economics, macroeconomics, macroeconomic policy and finance, money and banking. Central bankers will also find much to interest them within this book. Contents: Introduction: Why is There No Money? 1. Why is There Money? 2. An Economy Without Money 3. The Trading Post Model 4. An Elementary Linear Example: Liquidity Creates Money 5. Absence of Double Coincidence of Wants is Essential to Monetization in a Linear Economy 6. Uniqueness of Money: Scale Economy and Network Externality 7. Monetization of General Equilibrium 8. Government-Issued Fiat Money 9. Efficient Structure of Exchange 10. Microfoundations of Jevons's Double Coincidence Condition 11. Commodity Money Equilibrium in a Convex Trading Post Economy 12. Efficiency of Commodity Money Equilibrium 13. Alternative Models 14. Conclusion and a Research Agenda Bibliography Index

Beyond the New Public Management is an important book which provides a comprehensive analysis of current conceptual debates in public management and governance; and critically reviews attempts made over the last two decades to apply the 'new public management' model in developed and developing countries. The book brings together a number of outstanding specialists who examine the range of ideas and concepts of the new models of reform, paying particular attention to the 'new public management' model and to strategies of good governance. It evaluates progress made by governments and aid donors in putting these ideas into practice. Using case studies from both the developed and developing world, it emphasises the extent to which public management and governance reforms are being applied throughout the international arena. The examples used focus on the problems of policy and institutional transfers between the industrialised world and developing countries. Multidisciplinary in its approach, the book draws on literature and research from management studies, political science, sociology, economics and development studies; and points to issues likely to dominate the future research agenda. This thoughtful and wide-ranging book will be essential reading for academics, students and practitioners of public management, public policy, governance and development.

This book is the first English language edition of Le Commerce et le Gouvernement by the distinguished eighteenth century economist and philosopher Condillac. It was one of the most original contributions to French economics in the eighteenth century. In this edition the editors provide an English translation of the original and a comprehensive account of Condillac's life and contribution to economics. In the late eighteenth century Condillac used the clarity and precision of thought of a leading philosopher to derive a fundamental set of economic principles and their implications for policy. He arrived at the same free trade conclusions as Adam Smith, and Le Commerce et le Gouvernement was published in the same year as The Wealth of Nations. Condillac's economics was initially condemned by the physiocrats because in his utility-based analysis, industry and commerce and not just agriculture contributed to the wealth of France. The original French edition was quickly dismissed by those in positions of power in France who preferred dirigism to competition, while across the Channel the British were unaware of its existence. The importance of Condillac's contribution to economics was recognised after the marginal revolution of the 1870's. In the eighteenth century Condillac won the respect of Voltaire and Rousseau, and the high regard of the King and the Church. His work has since been admired by Allais, Hayek, Menger and Weulersse, while Jevons believed that it provided the first distinct statement of the true connection between value and utility. Commerce and Government will be of special interest to historians of economic thought and those interested in the economic history of the eighteenth century.

This important book examines the economic policies required to reduce carbon dioxide emissions - a major source of pollution throughout the world. It explores the likely impact of environmental taxes on income distribution and economic welfare. The authors consider a tax on domestic fuel and power and a carbon tax, and the likely adverse distribution effects of these on a population. The analysis allows for the direct and indirect effects (through inter-industry transactions) of taxes on prices and consumers' responses to these price changes. The welfare effects are also estimated for a variety of income groups. The authors then evaluate the inequality and social welfare measures and consider whether the distributional effects can be overcome by adjusting transfer payments to compensate lower-income groups. This study examines environmental taxes in Australia with methods which can be applied to other countries, some of which were specifically designed to overcome data limitation problems. Environmental Taxes and Economic Welfare will be of special interest to researchers, academics, policymakers and advisers on taxation and environmental policy.

Population ageing has been the subject of much discussion in recent years, often expressed in alarmist language that advocates evasive policy action to avert an imminent demographic crisis. This forward-looking book evaluates the debates surrounding population ageing and offers a more optimistic outlook on its effect on the economy.William Jackson initially considers general theoretical approaches to population ageing, particularly in relation to the rising dependency burden. He then goes on to examine traditional topics such as employment, productivity, pensions and social security, along with less traditional topics such as informal care, within the context of long-run structural changes. The author draws on an extensive range of economic literature and considers neoclassical arguments before analysing the issue from a non-neoclassical economic, social gerontological and sociological perspective. He maintains that conventional economic theory tends to overstate the effects of population ageing on the economy. Thus, he argues that while population ageing is a complex issue requiring some policy adjustments, it is a less acute problem than is suggested in popular and academic discussion. This book will be of great importance to scholars and students with an interest in population economics and the economics of social policy.

Examining cutting-edge issues of international relevance in the ongoing redesign of the South African local government fiscal system, the contributors to this volume analyze the major changes that have taken place since the demise of apartheid. The 1996 Constitution and subsequent legislation dramatically redefined the public sector, mandating the development of democratic local governments empowered to provide a wide variety of key public services. However, the definition and implementation of new local functions and the supporting democratic decision-making and managerial capabilities are emerging more slowly than expected. Some difficult choices and challenges commonly faced by developing countries must be dealt with before the system can evolve to more effectively meet the substantial role envisioned for local governments. The contributors outline these choices and challenges, consider options for meeting them, and review the implications of different decisions. Their analyses also highlight the interrelationships among the elements of the local fiscal structure, and emphasize the often-ignored challenge of how to define an appropriate fiscal decentralization implementation strategy in an environment where local governments are extremely diverse in terms of needs, resources and capacities. Though the research, much of it based on newly collected data, is specific to South Africa, the approach provides a model for other countries facing similar fiscal decentralization policy challenges. Applied public finance and policy academics, policymakers in developing countries, researchers and program managers in international development organizations, and students interested in local government finance in developing countries will find this timely and comprehensive volume a valuable addition to their libraries.

Tax policy questions may relate to specific problems, concerning perhaps the revenue implications of a particular tax, or they may involve an extensive analysis of the cost and redistributive effects of many taxes and transfer payments. This book is concerned with the ways in which tax policy design can be enhanced by the use of a behavioural tax microsimulation model capable of evaluating the effects of planned or actual tax reforms. An advantage of such a large-scale tax simulation model, which reflects the heterogeneity of the population and captures the details of the tax structure, is that it can examine detailed practical policy questions and can provide direct inputs into policy debates. After introducing behavioural models, the authors discuss the role of means testing, several hypothetical policy reforms, actual and proposed reforms and recent modelling developments.Tax Policy Design and Behavioural Microsimulation Modelling will be of interest to academics and researchers of economics, econometrics and public finance. It will also be useful reading for policymakers responsible for the formulation of taxation.

Fiscal Policy and Interest Rates in the European Union is a comprehensive study concerned with the potential effects of fiscal policy on financial markets in the European Union. It takes into account the gradual liberalization of capital movements throughout Western Europe and the institutional framework of the European monetary system. Klaas Knot takes a fresh approach to the impact of budget deficits on interest rates, especially in relation to international financial integration, and concludes that the increases in European budget deficits since the early 1970s have raised interest rates in the long term throughout the Union. In conclusion he argues that balanced budget deficits are necessary to maintain low interest rates. This important new book will be of interest to students, academics and policymakers concerned with monetary and public economics.

This book, first published in 1967, explores some of the problems formulating investment criteria for the public sector of a mixed-enterprise, underdeveloped economy. The typical essay on public investment criteria explicitly or implicitly postulates a single goal for economic analysis - maximization of weighted average of national income over time - and relegates all other objectives of public policy to a limbo of "political" and "social" objectives not amenable to systematic, rational treatment. In contrast Professor Marglin assumes a multiplicity of objectives and explores ways and means of expressing contributions to different objectives in common terms. The book also investigates the relationship of specific investment criteria to the objectives of public policy. Benefits and costs are defined separately for each objective, as are so-called "secondary" benefits. This book is suited for students of economics.

Judicial Interpretation of Tax Treaties is a detailed, comprehensive analytical guide to the interpretation of tax treaties at the national level. The book focuses on how domestic courts interpret and apply the OECD Commentary to the OECD Model Tax Convention on Income and on Capital. Adopting a global perspective, the book gives a systematic presentation of the main interpretive proposals put forward by the OECD Commentary, and analyses selected cases decided in domestic tax systems in order to assess whether and how such solutions are adopted through national judicial process, and indeed which of these are of most practical value. The book operates on two levels: Firstly it sets out a clear and comprehensive framework of tax treaty law, which will be an important tool for any tax practitioner. Secondly, the book provides crucial guidance on issues of tax treaty law as applied at domestic level, such as investment or business income, dispute resolution and administrative cooperation. Key features: - A detailed and structured introduction to the main issues of tax treaties - Ideal for practitioners requiring a grounding in the functioning of tax treaty law - Concise summaries of the relevant issues, cases, and problems for each discrete chapter - Offers a basic 'globalized' handbook that is missing in the current literature about judicial application of tax treaties. This comprehensive treatment of tax treaty law is a ready reference for tax practitioners, and an essential introduction for non-specialists. The book can also be used as a companion to courses in international taxation.

Angus Maddison has made a major contribution to our understanding of the comparative, historical and quantitative aspects of economic growth. This important collection of his work - including a number of original new essays - offers an authoritative analysis of the economic performance of nations. Drawing extensively on quantitative and qualitative evidence, Professor Maddison provides a clear view of why growth rates differ, why real income and productivity spreads are so wide, and why the pace of growth has varied over time. The first section features essays which provide an analytical framework for causal analysis of growth performance, this is followed by papers on investment and capital stock estimation, savings behaviour and measurement of economic performance levels. There are three essays on the roots of economic 'backwardness' and the final section deals with the effect of economic and social policy on the performance of advanced capitalist countries. These essays offer a depth of historical and interspatial perspective which is unrivalled. In addition to focusing on the influences of institutions, ideology and colonialism, Professor Maddison's analysis makes sophisticated use of the growth accounting approach. A specially-written autobiographical essay has also been included.

This book provides an insightful, and in-depth analysis of the fiscal reform process experienced in Spain over the last 30 years. The authors initially focus on the political economy of tax reform in Spain, and the fact that political and economic bodies were able to form alliances at key junctures during the process in order to push reforms forward. A comprehensive analysis of the main instruments of the Spanish tax system, including the introduction of VAT upon Spain's accession to the European Common Market, is presented. The rapid fiscal decentralization process that led Spain from being one of the most centralized countries in the world to being one of the least centralized is also discussed, as is the modernization of the Spanish tax administration system. Written by a select group of scholars with deep knowledge of the Spanish fiscal system, this book will be of great interest to students, tax policymakers and researchers all over the world and especially in Latin America.

For undergraduate and graduate courses in Taxation, and for professional use. Get clarity on UK taxation rules and policies in this up-to-date guide for year 2020 Taxation, 26th Edition, by Alan Melville, updated with 2020's Finance Act, is the definitive, market-leading text on UK taxation and is known for its up-to-date coverage of the changes introduced by the annual Budget. Featuring clean, well-structured prose and a wealth of immensely practical examples, this comprehensive guide serves as both a core textbook if you are studying taxation for the first time and a reference text that clearly explains the UK tax system and taxation regulations. Additionally, a free to access Companion Website features opportunities for extra practice, plus chapter appendices and a range of useful links to explore taxation rules and the tax system further. Pearson, the world's learning company.

Benefit-cost analysis reduces all of the impacts of a proposed policy change to a common unit of measurement. It is used in a wide variety of fields including agriculture, life and health, transportation and the environment.In this single volume the editors, both leading scholars in their field, present a judicious selection of previously published papers indispensable to the study of applied benefit-cost analysis. The comprehensive collection is an essential resource to scholars, researchers and policymakers alike.

This is a very stimulating book which should be read by everyone who wants to gain an understanding of the latest developments in the shadow economy.' - Friedrich Schneider, Johannes Kepler University of Linz, Austria'Professor Williams is to be congratulated for this timely contribution - a fresh addition to the literature. As he explains, the recognition that the shadow economy is diverse and extensive has led to a rethinking of how to tackle it. In a reader-friendly fashion, the author explains the variable magnitude of and variable character of the shadow economy; he then discusses policy approaches, deterrence measures and incentives. The result is of interest to the policy-maker as well as to academics.' - Leo-Paul DANA, Groupe Sup de Co Montpellier Business School, France This authoritative monograph explores the effectiveness and transferability of the rapidly expanding range of policy approaches and measures available as weaponry in the fight against the shadow economy. Beginning with a review of the extent of undeclared work, the author discusses the discrepancies between regions and the potential impacts of the economic crisis, comparing the nature of the potential solutions available with those actually adopted. The way forward, the book concludes, is to move away from increasing the costs of engaging in hidden work using repressive measures, and concentrate more on developing initiatives that enhance the benefits of engaging in declared work and increase the likelihood of compliance by engendering a commitment to tax morality. This insightful and unique exposition will have considerable appeal to academics, practitioners and policy-makers across the globe involved in the fight against undeclared work. Contents: 1. Introduction Part I Extent and Nature of the Shadow Economy 2. The Variable Magnitude of the Shadow Economy 3. The Variable Character of the Shadow Economy Part II Policy Approaches 4. Evaluating the Policy Options 5. A Typology of Policy Measures Part III Direct Controls 6. Deterrence Measures 7. Supply-Side Incentives for Businesses 8. Supply-Side Incentives for Individuals 9. Demand-Side Incentives Part IV Indirect Controls 10. Commitment Measures 11. Broader Economic and Social Policies 12. Conclusions References Index

Local Government Tax and Land Use Policies in the United States is an accessible, non-technical evaluation of the most recent economic thinking on the nexus between local land use and tax policies. In Part I, Helen Ladd provides a comprehensive summary of the extensive literature on the interaction of local land use and tax policies. She explores the theoretical controversies and clarifies issues such as the use of land use regulation as a fiscal tool, the effects of taxes on economic activity and the success of tax policies to promote economic development. In Parts II and III, a group of experts presents new research on important issues such as the impact of growth on tax burdens, metropolitan tax base sharing, the incidence of impact fees and the shift to land value taxation in urban areas. This book raises provocative questions concerning the conventional wisdom in fiscal policy. It will be indispensable for economists and students interested in urban issues and local public finance as well as planners and policymakers.

First published in 1919, Taxation in the New State explores the practical application of tax policy to the financial situation of post-World War I Britain. Hobson assesses policy according to the tax payer's ability to bear the burden and draws a distinction between 'cost' and 'surplus'. He proposes a number of reforms and considers the pitfalls of attempting the find required revenue using ordinary taxation in a post-war financial crisis.

Fiscal policy is an incredibly important tool for governments across the world, with many countries facing dilemmas in crafting fiscal policies to meet changing demographic needs, greater demands for social welfare and sudden spending due to shocks such as terrorism. This important book looks at fiscal policy in the Asian Pacific economies and with a broad array of contributors will be a useful tool to students, researchers and professionals working in international economics and finance.

Examining the increasingly relevant topic of public sector efficiency, this dynamic Handbook investigates the context of constrained fiscal space and public funding sources using cross-country datasets in areas including China, India, sub-Saharan Africa and OECD economies. Expert contributors evaluate public sector efficiency for both national and sub-national governments, analysing important sectors such as education, health, public-private enterprises and state-owned enterprises. Given voters' requirements to be more educated and for greater accountability on the use of public spending, chapters describe methodology and measurement issues alongside the allocation of resources to ensure better efficiency and effectiveness. Forward-thinking, the Handbook provides insights into how improving efficiency can greatly assist governments when dealing with unforeseen events such as the recent Covid-19 pandemic and the conflict in Ukraine. This Handbook will be an important read for academics and students of public sector economics and public administration and management. It will also provide an excellent background for the policy makers of international institutions looking to help the general public have a better understanding of how public spending works in order for them to make informed decisions when voting.

The last several decades have seen major advances in the ways in which public economists investigate behavioural responses to taxation. Recent research has utilized new data sets and has applied new empirical methods, including laboratory experiments and natural and controlled field experiments. The application of behavioural economics has contributed insights from other disciplines, especially psychology. Here James Alm and Sebastian Leguizamon discuss the lessons from all this work. Covering such topics as labour supply, charitable giving, savings, capital gains realisations, mobility, bequests, family structure, reported income and tax evasion, they highlight the current state of knowledge in this area. They present new thinking about the relevant issues and an analysis of useful policy options.

State and Local Public Finance provides a comprehensive and sophisticated analysis of state and local government public finance practices and issues, using the basic tools of economics. This fifth edition maintains its focus on key local services such as education, health care, and transportation and brings in new coverage of land use and housing, applications from behavioral economics, and more international comparisons. This textbook provides an examination and analysis of public finance practices and problems in a federal fiscal system, focusing on the fiscal behavior and policies of state and local governments. Modern economic theory is applied to examine the way key institutions are used to produce and finance services and to provide evaluation of alternative policies. This stalwart text will continue to be invaluable reading for those who study public finance, local government finance, urban economics, public policy, and public administration.

Assessing both the macro- and micro-economic levels of the contemporary African Debt Crisis, this book, first published in 1989, begins by looking at the origins of the world debt crisis, and then looks closely at the problem as it affects Sub-Saharan Africa. The effects of debt on Africa's position in international relations are considered, and the roles played by organisations such as the International Monetary Fund and the World Bank are assessed. The authors also examine the local effects in a series of case studies of various states including Nigeria, Ghana and Sierra Leone, the Francophone States and Zaire.

Originally published in 1991, user charges and earmarked taxes are methods by which people pay directly for the services they recieve from government. As such they are frequently supported by those who oppose increased taxation, who argue that they are more like market transactions than traditional forms of taxation. This book explores the cogency of these arguments in the light of public choice analyses of political processes.