This book, first published in 1971, presents an analysis of the taxes levied on wealth or capital - death duties, annual wealth taxes and capital gains taxes. It provides a comprehensive study of these taxes, and recommends a series of measures, including the replacement of certain taxes, that would promote equality. The book also provides a masterly historical summary of death duties in the UK.

Fiscal policy has always been a primary measure of macroeconomic control. The fiscal revenue and expenditure can influence the operation of the whole economic and social activities by changing the existing GDP distribution pattern, affecting the consumption and investment of enterprises and people, etc. Within the framework of macroeconomic analysis, this book reviews the evolution of China's fiscal policy, and the main changes China's economy has experienced since 1990s. To begin with, it makes an empirical research of China's national debts, including their relationship with macroeconomic regulation and total social demand. Besides, it examines the economic effect mechanism of national debts issuance. Then it focuses on the taxation issues, elucidating the sources of tax revenue growth and the judgments on tax burden. The issue of tax reduction is also covered, especially its complexity in China. Lastly, it provides insights into China's fiscal tendency, changes of macroeconomic policies, and financial operation in the context of the "New Normal". Scholars and students in economics, finance and Chinese economic studies will be attracted by this book. Also, it will appeal to readers interested in modern Chinese economic history.

First published in 1984. This book brings together and develops the economic theory relating to the design and operation of systems of non-central government - positing major developments in several areas. It considers what functions systems most suitably perform in non-central governments, and their appropriate size and structure. How these authorities might finance themselves - by taxes, charges or loans - is analysed in detail. It also examines the use of grants by higher tiers of government and how such programmes should be designed. Concentrating on contemporary economic concerns, it relates the theory to practice in countries such as Australia, Canada, West Germany, the UK and USA.

Build a strong understanding of today's public finance and public policy with the economics-oriented approach in Hyman's PUBLIC FINANCE: A CONTEMPORARY APPLICATION OF THEORY TO POLICY, 12E. Popular author and respected economist Dr. David Hyman clearly illustrates the role government plays in today's economy as he explains how and why the public sector makes decisions. This timely edition addresses public issues confronting the United States and other nations throughout the new millennium. You examine expenditure and tax topics as you develop analytical tools to understand major government policy and finance issues. Packed with current, real examples, this edition sparks lively discussion and debate with its coverage of hot topics, such as today's national defense and homeland security, pollution rights, Social Security reform, federal tax reform and the Iraq war. Numerous study tools and exercises help you sharpen your economic insights.

Pension Systems enters into the current lively debate on European pensions. The focus of the book is the analysis of public intervention in individuals' retirement choice, its rationale and the desirability of legislation introducing a sizeable and compulsory increase in retirement age, to face the prospects of swift population ageing. The book assesses the impact of different retirement rules on individual decisions, on the sustainability of social security systems and on labour market dynamics, and inquires whether mandatory retirement has not become an outdated feature of modern pension systems. The motivations behind public intervention in fixing compulsory retirement rules as well as the likely consequences of allowing the individual a higher responsibility in retirement choices are analysed. These issues are examined both theoretically and empirically and through a focus on country-specific patterns of retirement and on policy issues relevant at the European level. The impact of later retirement on the labour market is also investigated, considering the role of retirement rules in increasing employment. This comprehensive and topical book will appeal to academics and scholars of public finance as well as pensions experts and organisations.

The recent global financial crisis has challenged conventional wisdom, and our conception of globalization has been called into question. This challenging and timely book revisits the relationship between globalization, the crisis and the state from an interdisciplinary perspective, with law, economics and political science underpinning the analysis.The expert contributors consider the Washington Consensus and its aftermath across Australia, China, the EU, New Zealand and South Africa in light of the financial crisis, encompassing public policy issues including banking reform, privatisation and state owned enterprise. The clash between market and state capitalism and the response of market capitalism to the crisis are also explored. This book draws together truly multidisciplinary discussions of the main issues for contemporary society in the face of globalization, and defines how these issues relate to each other. As such, it will prove a stimulating read for academics, researchers, postgraduate students and policymakers with an interest in law, economics and politics. Contributors: M. Ariff, T. Booth, L. Boulle, J. Broehmer, J. Chen, J.H. Farrar, G.A. Hodge, C.-C. Huang, D.G. Mayes, A. Noon, L. Parsons, M. Regan, C.D. Stoltenberg, S. Watson, M. Wilson, X. Yang

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

'In this timely book, Professor Gordon Rausser explores the changing landscape of university-industry relations, informed by his unusual background as a pioneer in Public Private Research Partnerships (PPRPs) while serving as Dean of the College of Natural Resources at UC Berkeley. Scholars, administrators, and industry executives who are interested in industry/university partnerships will find a treasure of information and insights in this beautifully written book.' - Steve P. Briggs, University of California, San Diego 'As public/private partnerships have become increasingly important to the funding of academic research, it is essential not only to learn from past institutional experience of such partnerships, but to create templates that optimize their structure for both partners. In his important book, Structuring Public-Private Research Partnerships for Success, Gordon Rausser has set himself to both tasks. All those who think about such partnerships will learn from this book.' - Carol Christ, University of California, Berkeley University research has played an essential role in economic growth by generating public good outputs that have not readily lent themselves to private market development. As funding for universities and governmental research units has declined, these institutions have turned to the private sector to augment their research and development budgets. This book presents a framework for structuring public-private research partnerships that protect both these institutions' academic freedom and the private firm's corporate interests. The authors present a four-stage framework that recognizes the critical role of 'control rights' and reveals how these rights can be effectively identified, valued, and allocated between research partners. The book provides a number of template designs for a variety of research partnerships, including tactics and strategies for implementing successful public-private research partnerships. It further provides case studies with examples of both successful and unsuccessful research partnerships. The book demonstrates that universities are empowered when they pursue private partners actively and when contracts preserve academic freedom, address confidentiality, specify intellectual property rights, define access to proprietary data, clarify the conflict resolution process, and address potential publication delays. This book is an essential and illuminating resource for academic researchers in economics and public policy departments, technology transfer offices, as well as others involved in university and public administration.

One of the most important functions of modern government is to marshal and deploy resources to achieve desired objectives and outcomes. This task is overseen by the Central Budget Agencies (such as Ministries of Finance and Treasuries) who have the responsibility of generating tax revenue, and controlling and allocating public expenditure. This extensive comparative study investigates the changing nature and role of Central Budget Agencies (CBAs) in ten countries reflecting a spectrum of different institutional and constitutional contexts. Eighteen expert contributors offer detailed accounts of the various trajectories that have occurred within their respective CBAs, set against the changing political environment in which they operate. A recurring theme throughout is an evaluation of the power and agenda-setting roles of CBAs, assessing how their influence has grown or waned over time. An important feature of the book is that each chapter attempts to incorporate external scholarly analyses with internal practitioner views. Four key areas are examined in each of the CBAs, including: * the changing roles and responsibilities of CBAs * the politics of the budget process and the influence of CBAs * administrative and post-administrative cultures inside government * future prospects and directions for the CBAs. The original research presented in this book provides a new window into the world of CBAs, adding an important contribution to the scholarly research on public finance and government budgeting. It will also assist many CBAs to re-evaluate their roles and contributions to public budgeting and public sector management. This volume is required reading for anyone wanting to gain greater insight into whether CBAs really are the best guardians of the public purse.

Cost-Benefit Analysis presents an authoritative collection of the most important published articles in the field together with an extensive new introduction by the editors. Whilst focusing on the practical side, looking at applications such as education, transportation and the value of life and health, this important volume also emphasises the essential role of economic theory, with sections on the economic costs of public funds, foreign exchange and labour. The result is an influential selection based on robust and fundamental theoretical propositions -- ones that are readily suitable for everyday applications. This timely volume provides a comprehensive synthesis of the current state of the theory and application of cost-benefit analysis. It draws from a wide range of journals to include the key articles which are the benchmarks in the development of the field. It will be invaluable to academics and practitioners alike.

In evaluating environmental policy, researchers have tended to focus on the industry or market that is targeted by regulation and to disregard policy impacts in other parts of the economy. Recent research indicates, however, that in economies where governments rely on distortionary taxes, environmental regulation can profoundly affect costs and efficiency in areas other than the targeted industry or market. These findings signal the importance of evaluating environmental policy using a general equilibrium framework - an approach that can capture interactions across industries, sectors or markets. General equilibrium analysis can fundamentally alter the evaluation of environmental tax policies, and can overturn conventional wisdom concerning the relative cost-effectiveness of environmental taxes, emissions quotas, or mandated technologies.This volume gathers together important papers on the general equilibrium impacts of environmental regulation in the presence of distortionary taxes. Topics include optimal environmental taxation,'green tax reform' and the 'double dividend', and the choice among alternative policy instruments. The volume will be of interest to environmental economists, public finance economists and researchers interested in the economics of regulation.

The COVID-19 pandemic, coming on the heels of the Eurozone Debt Crisis, financial crisis and Great Recession, has provoked a renewed interest in the determinants of public borrowing. By nature an interdisciplinary subject, public borrowing draws from fields as diverse as macroeconomics, finance, law, history, politics and sociology. This new four volume collection will systematically survey this vast and disparate literature, gathering together the key writings and research to provide an essential research resource.

Cartels, Competition and Public Procurement uses a law and economics approach to analyse whether competition and public procurement laws in Europe and Asia deal effectively with bid rigging conspiracies.Stefan Weishaar explores the ways in which economic theory can be used to mitigate the adverse effects of bid rigging cartels. The study sheds light on one of the vital issues for achieving cost-effective public procurement - which is itself a critical question in the context of the global financial crisis. The book comprehensively examines whether different laws deal effectively with bid rigging and the ways in which economic theory can be used to mitigate the adverse effects of such cartels. The employed industrial economics and auction theory highlights shortcomings of the law in all three jurisdictions - the European Union, China and Japan - and seeks to raise the awareness of policymakers as to when extra precautionary measures against bid rigging conspiracies should be taken. Students and researchers who have a keen interest in the relationship between law and economics, competition law and public procurement law will find this topical book invaluable. Practitioners can see how economic theory can be used to identify situations that lend themselves to bid rigging and policymakers will be informed about the shortcomings of existing legislation from a legal and economics perspective and will be inspired by approaches taken in different jurisdictions. Contents: 1. Introduction Part I: Economic Theory 2. Economic Theory on Optimal Deterrence and Enforcement 3. Industrial Economics 4. Auction Theory and Collusion Part II: Legal Analysis 5. The Effectiveness of the Legal Regime Applicable to Bid Rigging in the European Union 6. Application of Auction Theory in Europe 7. The Effectiveness of the Legal Regime Applicable to Bid Rigging in China 8. Application of Auction Theory in China 9. The Effectiveness of the Legal Regime Applicable to Bid Rigging in Japan 10. The Japanese Construction Sector 11. Limits of Economic Theories and Concluding Remarks Appendix 1. Europe - An Overview of Public Procurement Law Appendix 2. China - An Overview of Public Procurement Law Appendix 3. History of Japanese Antitrust Legislation References Index

This authoritative new volume contains a selection of the most important articles and papers spanning over 20 years on budgeting and managing public spending. It is divided into five succinct parts, covering the main areas of the field including the political-economic environment, approaches to expenditure budgeting and implementing the budget. Donald Savoie does not limit his examples to just one country - budgeting and spending is discussed in a variety of countries, including the UK, Australia, New Zealand, America, Canada and Spain. He has also written a new introduction to accompany the piece. All those with an interest in government spending, budgeting and how finances are controlled will find this work - which includes articles and papers not immediately accessible - an essential reference tool.

Taxes are an inescapable part of life. They are perhaps the most economically consequential aspect of the relationship between individuals and their government. Understanding tax development and implementation, not to mention the political forces involved, is critical to fully appreciating and critiquing that relationship. Tax Politics and Policy offers a comprehensive survey of taxation in the United States. It explores competing theories of taxation's role in civil society; investigates the evolution and impact of taxes on income, consumption, and assets; and highlights the role of interest groups in tax policy. This is the first book to include a separate look at "sin" taxes on tobacco, alcohol, marijuana, and sugar. The book concludes with a look at tax reform ideas, both old and new. This book is written for a broad audience-from upper-level undergraduates to graduate students in public policy, public administration, political science, economics, and related fields-and anyone else that has ever paid taxes.

This insightful book brings together both academics and researchers from a variety of international organizations and aid agencies to explore the complexities of public private partnerships (PPPs) as a resurgent, hybrid mode of educational governance that operates across scales, from the community to the global. The contributors expertly study the different types of partnership arrangements and thoroughly critique the value of PPPs. Some chapters explore how PPPs, as a policy idea, have been constructed in transnational agendas for educational development and circulated globally, while other chapters explore the role and implications of PPPs in developing countries, providing arguments for and against an expanding reliance on PPPs in national educational systems. The theoretical framing of the book draws upon leading theories of international relations to develop a unique perspective on the global governance of education. It will prove insightful for both scholars and policy makers in public policy and education. Contributors: F. Barrera-Osorio, Z. Bhanji, A. Draxler, S. Fennell, M. Ginsburg, J. Guaqueta, J. Harma, A.V. Jaimovich, A.A. Marphatia, F. Menashy, K. Mundy, S.-A. Oh, H.A. Patrinos, S.L. Robertson, M. Ron-Balsera, P. Rose, P. Srivastava, J. van Fleet, A. Verger

Provides readers with a single repository covering the current state of knowledge, debates and relevant literature in the field. Brings together a wide range of eminent scholars from a variety of disciplines and a number of different countries, and in so doing, provides a useful resource for scholars of charity and philanthropy taxation. Includes contributions from a wide disciplinary base, thus the topic is explored in all its dimensions.

Although citizen engagement is a core public service value, few public administrators receive training on how to share leadership with people outside the government. Participatory Budgeting in the United States serves as a primer for those looking to understand a classic example of participatory governance, engaging local citizens in examining budgetary constraints and priorities before making recommendations to local government. Utilizing case studies and an original set of interviews with community members, elected officials, and city employees, this book provides a rare window onto the participatory budgeting process through the words and experiences of the very individuals involved. The central themes that emerge from these fascinating and detailed cases focus on three core areas: creating the participatory budgeting infrastructure; increasing citizen participation in participatory budgeting; and assessing and increasing the impact of participatory budgeting. This book provides students, local government elected officials, practitioners, and citizens with a comprehensive understanding of participatory budgeting and straightforward guidelines to enhance the process of civic engagement and democratic values in local communities.

This comprehensive book presents an original reconstruction of the different interpretations of the Phillips curve. The authors demonstrate through an in-depth analysis how it is possible to find non-neoclassical foundations in the trade-off between inflation and unemployment. The debate is presented from a historical perspective which charts the evolution of the Phillips curve from a non-neoclassical perspective, taking account of post Keynesian literature.In the first part of the book the authors focus on the origins of the Phillips curve and they critically analyse Richard Lipsey's interpretation and approach to the Phillips curve. They then explore the neoclassical and monetarist interpretation, paying special attention to the evolution of monetarism and the Keynesian critique of this approach. The Kaleckian, Keynesian and Marxist interpretations of the Phillips trade-off are then presented. Here the authors show how the relationship between inflation, unemployment and money described in these approaches accurately reflects the fundamental features of today's capitalist economies. In the final section a new Phillips curve is constructed, taking into account the non-accelerating inflation rate of unemployment and the hysteresis of it. Inflation, Unemployment and Money will be of interest to macroeconomists, post Keynesians and monetary and financial economists.

This authoritative two-volume set brings together the most important classic and contemporary papers on taxation and tax policy, written by the world's leading scholars and practitioners of taxation. Volume I reviews the effects of taxation, optimal taxation and tax reform. Volume II presents the latest theoretical and empirical work on how taxes affect individual decisions across a range of areas, concluding with studies of the effects of taxes on firm investment and financial structure decisions. The volumes will interest those teaching upper-level and graduate level courses in taxation and tax policy, and individuals who want to be informed on the latest research in taxation.

Analyses the Treasury's role in public policy making and makes an original contribution to knowledge about the current work of the Treasury. The book focuses on three main areas: * the development of the Treasury from earliest times to the present * the current structure and organization of the Treasury following the radical changes which took place in 1995 as a result of the 1994 Fundamental Expenditure Review * the Treasury's role in the financing and responsibility of Next Step Agencies, including brief case studies of the Civil Service College, the Contributions Agency and the Royal Mint.

This authoritative collection presents seminal papers from leading academics charting recent developments in public finance. The two-volume set encompasses numerous sections including the public sector in a market economy, market imperfections, growth implications of public policies and efficiency and distributive implications of public policies. Professor Tanzi and Dr Zee have selected key papers to reflect the scholarly debates and pivotal arguments surrounding this field of study. This indispensable collection, with an original introduction by the editors, will be of immense value to students, scholars and practitioners interested in this topical and relevant subject.

Bureaucracy and Public Economics brings together in one volume the classic book and related articles which put forward the first formal economic theory of the behaviour of bureaucracies. William Niskanen Jr. has consistently argued that bureaucrats have personal objectives - that differ from those of both their political supervisors and the general public - which they further by use of their monopoly power. He develops his argument to contend that government budgets have become too large and should be curtailed. All of Professor Niskanen's major contributions to this field have been brought together in this one volume including his pioneering article on 'The Peculiar Economics of Bureaucracy', the full text of the book 'Bureaucracy and Representative Government' and his recent reassessment of the larger body of scholarship on the economics of bureaucracy. Scholars, students and teachers of public economics will welcome this volume which, by making some of the key contributions in the field more widely accessible, will provoke discussion, debate and further research.

This volume - the summary of a five-year research programme - describes and assesses the Scandinavian approach to local public finance. A key role of local finance in Scandinavia is redistribution in the form of a wide array of social services that are largely financed at the central level.