The Social Cost of Public Finance
Datos Bibliográficos
| ID | 10183155 |
|---|---|
| Autores | Larry A Sjaastad, Daniel L Wisecarver |
| Año | 1977 |
| Volumen | 85 |
| Número | 3 |
| Páginas | 513-547 |
| Fecha de publicación | 1977-06-01 |
| Open Access | No |
| Tipo | ARTICLE |
| Revista | Journal of Political Economy (JOURNAL) |
| Identificadores de la revista | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Editorial | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/260582 |
| OpenAlex | W2056050668 |
| Idioma | EN |
| Citas recibidas | 12 |
| Referencias citadas | 7 |
This paper examines the implications for fiscal policy of systematic differences between (social) rates of return on private investment and savings. We show that the social discount rate lies between these divergent rates of return, that the controversy between this result and Marglin's stems entirely from different treatments of depreciation, and that reinvestment of net project output has negligible quantitative effects on the social discount rate. Then, within a macroeconomic framework, we derive the stringent conditions for a unique discount rate and demonstrate that, as public-sector consumption must also be charged a shadow price, the social value of a global change in output induced by countercyclical fiscal policy must exceed its (nonzero) social cost. Finally, we examine the Little-Mirrlees concept of the social cost of labor and find it unacceptable
Consumption (sociology · Cost–benefit analysis · Depreciation (economics · Economics · Fiscal policy · Interest rate · Internal rate of return · Investment (military · Macroeconomics · Microeconomics · Monetary economics · Present value · Production (economics · Public finance · Rate of return · Shadow (psychology · Shadow price · Social cost · Social discount rate · Value (mathematics · Economic theories and models · Finance · Fiscal Policy and Economic Growth · Monetary Policy and Economic Impact
Discounting in the Economic Evaluation of Health Care Interventions
Criteria for Efficient Capital Allocation
The Social Discount Rate
Low discount rates and insignificant environmental values
Appropriate Discounting for Benefit-Cost Analysis
Social Discounting and the Cost of Public Funds
Shadow-Prices for the Economic Appraisal of Public Sector Expenditures
The Social Discount Rate for Canada
Benefit-Cost Analysis in Canadian Practice
The Little-Mirrlees Shadow Wage Rate
A discounting framework for regulatory impact analysis
Cost Effectiveness of Water Supply Technologies in Rural Indonesia
The Social Rate of Discount and The Optimal Rate of Investment
Project appraisal and planning for developing countries
"Comment on "How to Make a Burden of the Public Debt
Are Government Bonds Net Wealth
Saving and the Rate of Interest
Discount Rates for Public Investment in Closed and Open Economies
Discount Rates and Public Investment
| Citas por año | 0,26 |
|---|---|
| Intervalo de citas | 1980 - 2020 (41) |
| Altamente citado | No |