Estimating the Social Marginal Cost of Public Funds-Reference-Cited by-同舟云学术

Estimating the Social Marginal Cost of Public Funds

Published:2013-02-19 Issue:3 Volume:41 Page:360-385
ISSN:1091-1421
Container-title:Public Finance Review
language:en
Short-container-title:Public Finance Review

Author:

Bessho Shun-ichiro¹,Hayashi Masayoshi²

Affiliation:

1. Faculty of Economics, Keio University, Tokyo, Japan

2. Faculty of Economics, University of Tokyo, Tokyo, Japan

Abstract

In this study, we recast the formula of the social marginal cost of public funds (SMCF) and highlight the role of what we call individual marginal costs of public funds (IMCF). After elaborating on aspects of distributional weights, we estimate the wage elasticity of labor supply and the IMCFs on a household basis. This allows us to explore not only the distributions of the elasticity and the IMCFs but also their relations to household income, which helps us assess the assumptions made in previous studies. Further, we use the SMCF estimates to evaluate the system of personal income taxes in Japan.

Publisher

SAGE Publications

Subject

Public Administration,Economics and Econometrics,Finance

Link

http://journals.sagepub.com/doi/pdf/10.1177/1091142113475699

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