Intermediate Public Economics

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Public economics examines the impact of government taxation and spending on economic efficiency and income distribution. This comprehensive text addresses core topics such as market failure and taxation, while also exploring recent developments in political economy and public choice. It stands out for its broad scope, balancing public finance with public choice and integrating theory with empirical evidence. The book begins with the theory and methodology of public economics, followed by a historical and theoretical overview of the public sector. It addresses departures from efficiency, including imperfect competition and asymmetric information, as well as political economy issues like rent-seeking, which is often overlooked in other texts. Key topics include equity, taxation challenges such as tax evasion and its consequences, fiscal federalism, and tax competition among jurisdictions, along with intertemporal issues related to social security and economic growth. This text serves as an introduction to public economics theory and significant analytical results, providing a current overview of the field. It is suitable for readers with a background in intermediate microeconomics and macroeconomics, making it appropriate for advanced undergraduate and graduate courses. While mathematics is minimized, the book maintains an analytical approach. Each chapter concludes with annotated suggestions for further reading and numerous exe