|
Expenditure Incidence
Expenditure incidence is the effect of government expenditure upon the distribution of private incomes. This is commonly contrasted with benefit incidence as an approach to planning and measuring the effect of a government spending programme. A pioneering analysis of this was made by the economist Richard Musgrave in his major work, ''The Theory of Public Finance''. Establishing the differential effect of expenditure in this way is difficult because the effect of differing policies upon taxation and overall expenditure must be normalised and it is hard to model and measure the flows of money which result. An analysis will commonly be structured in three stages: #Definition of the government programmes or budgetary expenditures and the corresponding database of monetary values. #Determining the measures of income: the size of economic unit such as the individual, family or community; the timescale of analysis such as annual or lifetime; the well-being and externalities which ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Expenditure
Public expenditure is spending made by the government of a country on collective needs and wants, such as pension, provisions, security, infrastructure, etc. Until the 19th century, public expenditure was limited as laissez faire philosophies believed that money left in private hands could bring better returns. In the 20th century, John Maynard Keynes argued the role of public expenditure in determining levels of income and distribution in the economy. Since then, government expenditures has shown an increasing trend. Sources of government revenue include taxes, and non-tax revenues. In the 17th and the 18th centuries, public expenditure was considered a wastage of money. Thinkers believed government should stay with their traditional functions of spending on defense and maintaining law and order. Theories of public expenditure Several theories of taxation exist in public economics. Governments at all levels (national, regional and local) need to raise revenue from a variety ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benefit Incidence
In economics, benefit incidence refers to the availability of a benefit. In the United States, the benefit incidence is calculated by the National Compensation Survey (NCS). See also * Employee benefit * Expenditure incidence * National Compensation Survey * Fiscal incidence * Bureau of Labor Statistics References External links Benefit incidence U.S. Bureau of Labor Statistics Division of Information Services Employee Benefits Survey U.S. Bureau of Labor Statistics Division of Information Services The Bureau of Labor Statistics (BLS) is a unit of the United States Department of Labor. It is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics and serves as a principal agency of t ... Labour economics indices Employee benefits {{econ-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Musgrave (economist)
Richard Abel Musgrave (December 14, 1910 – January 15, 2007) was an American economist of German heritage.Peter Mieszkowski, updated by the editors, 2008. "Musgrave, Richard Abel (1910–2007)," ''The New Palgrave Dictionary of Economics'', 2nd EditionAbstract./ref> His most cited work is ''The Theory of Public Finance'' (1959), described as "the first English-language treatise in the field," and "a major contribution to public finance thought." Biography Early life Musgrave was born in Königstein im Taunus, Germany, into the family of a writer and translator Curt Abel Musgrave, a chemist by profession. His paternal grandfather (professor of linguistics at the Berlin Humboldt Institute Carl Abel) and maternal grandmother were Jewish but converted to Christianity. He turned from the field of literature, with an interest in becoming a stage director, to philosophy and economics at the Universities of Munich and Heidelberg (Diplom-Volkswirt, 1933), then at Harvard (Ph.D., 1937) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Distribution
In economics, income distribution covers how a country's total GDP is distributed amongst its population. Economic theory and economic policy have long seen income and its distribution as a central concern. Unequal distribution of income causes economic inequality which is a concern in almost all countries around the world. Classical economists such as Adam Smith (1723–1790), Thomas Malthus (1766–1834), and David Ricardo (1772–1823) concentrated their attention on factor income-distribution, that is, the distribution of income between the primary factors of production (land, labour and capital). Modern economists have also addressed issues of income distribution, but have focused more on the distribution of income across individuals and households. Important theoretical and policy concerns include the balance between income inequality and economic growth, and their often inverse relationship. The Lorenz curve can represent the distribution of income within a society. The Lore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lorenz Curve
In economics, the Lorenz curve is a graphical representation of the distribution of income or of wealth. It was developed by Max O. Lorenz in 1905 for representing Economic inequality, inequality of the wealth distribution. The curve is a graph of a function, graph showing the proportion of overall income or wealth assumed by the bottom ''x''% of the people, although this is not rigorously true for a finite population (see below). It is often used to represent income distribution, where it shows for the bottom ''x''% of households, what percentage (''y''%) of the total income they have. The percentage of households is plotted on the ''x''-axis, the percentage of income on the ''y''-axis. It can also be used to show distribution of Asset (economics), assets. In such use, many economists consider it to be a measure of social inequality. The concept is useful in describing inequality among the size of individuals in ecology and in studies of biodiversity, where the cumulative propo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FinanzArchiv
FinanzArchiv (Public Finance Analysis) is an international academic journal of economics published quarterly by Mohr Siebeck, Tübingen, Germany. The journal publishes high quality papers in all fields of public finance, such as taxation, public debt, public goods, public choice, federalism, market failure, social policy and the welfare state. Overview FinanzArchiv was first published in 1884, which makes it one of the world's oldest professional journals in economics. In 2006 the traditional title was complemented by the English sub-title Public Finance Analysis. Its founder and first editor from 1884 to 1931 was Georg von Schanz, the inventor of the Schanz-Haig-Simons concept of comprehensive income. The list of subsequent editors includes Hans Teschemacher, Fritz Neumark, Norbert Andel, Helga Pollak, Wolfgang Wiegard, Wolfram F. Richter, Hans-Werner Sinn, James R. Hines, Peter Birch Sørensen, Bernd Genser, Harry Huizinga, Jenny Ligthart, and Christian Keuschnigg. The curr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Economics
Public economics ''(or economics of the public sector)'' is the study of government policy through the lens of economic efficiency and equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. Welfare can be defined in terms of well-being, prosperity, and overall state of being. Public economics provides a framework for thinking about whether or not the government should participate in economic markets and if so to what extent it should do so. Microeconomic theory is utilized to assess whether the private market is likely to provide efficient outcomes in the absence of governmental interference; this study involves the analysis of government taxation and expenditures. This subject encompasses a host of topics notably market failures such as, public goods, externalities and Imperfect Competition, and the creation and implementation of government policy. Broad methods and topics include: * the theory and applic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Development Economics
Development economics is a branch of economics which deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether through public or private channels. Development economics involves the creation of theories and methods that aid in the determination of policies and practices and can be implemented at either the domestic or international level. This may involve restructuring market incentives or using mathematical methods such as intertemporal optimization for project analysis, or it may involve a mixture of quantitative and qualitative methods. Common topics include growth theory, poverty and inequality, human capital, and institutions. Unlike in many other fields of economics, approaches in development ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
