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Modelling the Composition of Government Expenditure (Hardcover)
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Modelling the Composition of Government Expenditure (Hardcover)
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The composition of government expenditure varies considerably
across countries. The aim of this book is to explore the choice of
expenditure using a range of modelling approaches. The models allow
for different economic environments, involving the types of
expenditure considered, the time period of analysis and the
behavior of individuals. The composition of expenditure is examined
using majority voting and public finance frameworks, where the
latter involves maximization of a social welfare function involving
a trade-off between equity and efficiency. Special attention is
given to expenditure on transfer payments, public goods and
education. Empirical analyses are also carried out, using data for
a wide range of countries, where potential orders of magnitude of
various components of the models are obtained. The models help in
considering important factors and the inter-relationships involved.
In particular, a synthesis is provided which allows special
consideration of the role of basic inequality in influencing
expenditure patterns. The book will be of considerable value to
students and researchers interested in public economics. Contents:
Part I: Introduction 1. Introduction 2. Alternative Choice
Mechanisms Part II: Voting Models 3. Transfer Payments and Public
Goods 4. The Role of Home Production 5. An Overlapping Generations
Framework Part III: Optimal Choice 6. The Optimal Expenditure
Composition 7. Education, Public Goods and Transfers 8. The
Overlapping Generations Context Part IV: A General Equilibrium
Model 9. A General Equilibrium OLG Model Bibliography Index
General
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