Public finance
Public finance (government finance) is the field of
economics that deals with
budgeting the
revenues and
expenditures of a
public sector entity, usually government.Matters addressed by the subject include:effects of government spending, taxation, and borrowing on households, businesses, and the
economyrules that should apply to the conduct of such activity
tax incidence (who really pays a particular tax) voluntary exchange vs. government-mandated provision of goods and services
cost-benefit analysis of government activitythe role of government in affecting
income distribution through taxes, government spending on
goods, and
transfer paymentsefficiency and distribution effects of different kinds of taxes (for example, on income or consumption)fiscal politics, modelling public spending and taxation as affected by interactions of self-interested voters, politicians, and bureaucrats. (Musgrave, 1987)Government efficiency - how efficient are governments at obtaining their objectives? how much of their expenditure actually goes to where it is intended? what types of waste exist?Scope of government activities - what do governments spend money on? what should governments spend money on? what can be left to
markets? Why governments should be concerned with
externalities,
public goods.
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Finances publiques
Finanzwissenschaft
財政
public finance
javne financije
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