Description
| Product ID: | 9781108949453 |
| Product Form: | Paperback / softback |
| Country of Manufacture: | GB |
| Series: | Elements in Public Economics |
| Title: | Tax Policy |
| Subtitle: | Principles and Lessons |
| Authors: | Author: Katherine Cuff, Robin Boadway |
| Page Count: | 75 |
| Subjects: | Macroeconomics, Macroeconomics, Labour / income economics, Behavioural economics, Public finance and taxation, Labour economics, Behavioural economics, Taxation |
| Description: | This Element discusses various conceptual issues with social welfare maximization, including interdependent utilities, heterogeneous preferences, behavioural economics, social norms, and the source of the social welfare function and their implications for optimal taxation. Tax policies are informed by principles developed in the tax theory and policy literature. This Element surveys the policy lessons that emerge from optimal tax analysis since the 1970s. This Element begins with the evolution of tax policy principles from the comprehensive income approach to the expenditure tax approach to normative tax analysis based on social welfare maximization and recounts key results from the optimal income tax analysis inspired by Mirrlees and extended by Diamond to the extensive margin approach. This Element also emphasizes analytical techniques that yield empirically relevant concepts and show the equity-efficiency trade-off at the heart of tax policy. We also extend the analysis to recent literature incorporating involuntary unemployment, and policies like welfare and unemployment insurance. |
| Imprint Name: | Cambridge University Press |
| Publisher Name: | Cambridge University Press |
| Country of Publication: | GB |
| Publishing Date: | 2022-05-12 |
