Public Finance 9e

Public Finance 9/e benefits from the combined efforts of Harvey Rosen?s market-leading book and co-author Ted Gayer?s research and government agency experience. This combination of experience is able to explain as clearly as possible how the tools of economics can be used to analyze government expenditure and tax policies. This new edition incorporates recent developments and along the way takes students to the frontiers of current research and policy. While the information presented is cutting edge and reflects the work of economists currently active in the field, the approach makes the text accessible to undergraduates whose only prior exposure to economics is at the introductory level. All of the changes in the Ninth edition were made to further the authors? goal of providing students with a clear and coherent view of the role of government spending and taxation. The authors? years of policy experience have convinced themselves that modern public finance provides a practical and invaluable framework for thinking about policy issues. The goal is simple: to emphasize the links between sound economics and the analysis of real-world policy problems. Financial Crisis Coverage: The existing financial crisis will long be remembered by the current generation of students. Arguments that government polices toward housing may have contributed to the crisis are integrated throughout the text. For example, the political economy chapter (Chapter 6) and Chapters 5, 15, and 18, highlight examples of government subsidizing of the housing market. Current Issues: Throughout the text readers will find the latest literature applied to the analysis of new polices and policy proposals. The chapters on the United States Revenue System (Part V) provide numerous updates on tax policies stemming from recent legislation and from proposals made by President Obama. Expanded Climate Change Coverage: The Ninth edition expands its coverage of climate change policy. New discussions include focusing on the choice between a carbon tax and a cap-and-trade program to regulate greenhouse gases. Climate change policies are hot topic items where students can become engaged and more involved with real-world coverage. Expanded Coverage on Health Care: The chapter on government and the market for health care (Chapter 10) considerably expands the material on reform options. It now includes a discussion of the individual mandate program recently instituted in the state of Massachusetts, as well as a new discussion of international experiences with single-payer health care systems. Updated End-of-Chapter Material: The authors have expanded the discussion questions at the end of each chapter, in order to provide students with further opportunities to master the tools of public finance. Current Research: The authors continue to introduce readers to the latest research. The approach is modern, theoretical, and empirical, and shared by most active economists.