Public Finance and Public Policy Fourth Edition

Public Finance and Public Policy Fourth Edition

Jonathan Gruber

Language: English

Pages: 700

ISBN: 1429278455

Format: PDF / Kindle (mobi) / ePub


Jonathan Gruber’s groundbreaking Public Finance and Public Policy was the first textbook to truly reflect the way public policy is created, implement, and researched. Like no other text available, it integrated real-world empirical work and coverage of transfer programs and social insurance into the traditional topics of public finance. From its first edition, the book quickly became the market-leading text for Public Finance and Public Policy courses, and the margin is growing. 

Thoroughly updated, this timely new edition gives students the basic tools they need to understand the driving issues of public policy today, including healthcare, education, global climate change, entitlements, and more.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

global warming is the total accumulated stock of carbon dioxide in the air, which accumulates over many years from sources all over the world, even fairly large shifts in carbon dioxide pollution in one country today will have little impact on global warming. In that case, we say that the social marginal benefit curve (which is equal to the marginal damage from global warming) is very flat: that is, there is little benefit to society from modest additional reductions in carbon dioxide emissions.

enough.” For example, in the United States in 2010, 70% of the uninsured are in families with incomes below $50,000.Thus, society may feel that it is appropriate to redistribute from those with insurance, who tend to have higher incomes, to those without, who tend to have lower incomes. In some cases, society can undertake redistributions that change only the distribution of the pieces and not the size of the pie itself. Usually, however, redistributing resources from one group to another will

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202 Questions and Problems.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202 Advanced Questions.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203 Appendix to Chapter 7  The Mathematics of Public Goods Provision. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 204

Bush, State of the Union Address (February 27, 2001) Deficit in first year in office (2001): –1.3% of GDP (surplus) Deficit in last year in office (2008): 3.2% of GDP “This budget builds on these reforms . . . it’s a step we must take if we hope to bring down our deficit in the years to come.” President Barack Obama, Address to the Joint Session of Congress (February 24, 2009) Deficit in first year in office (2009): 10.1% of GDP Deficit in most recent year in office (2012, projected): 8.5% of

before shrinking again through 2007. The large recession that began at the end of 2007 raised the deficit again, to 3.2% of GDP ($459 billion) in 2008. The deficit ballooned to 10.1% of GDP ($1.4 trillion) in 2009, before falling again in subsequent years. The Budget Process The budget process begins with the president’s submission to Congress of a budget on or before the first Monday in February. The president’s budget, compiled from input by various federal agencies, is a detailed outline of

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