State & Local Public Finance With Infotrac

by Fisher, Ronald C.

• ISBN13: 9780324291551
• ISBN10: 0324291558
• Edition: 3rd
• Format: Hardcover
• Copyright: 2006-01-25
• Publisher: Cengage Learning

Summary

Get the Finance textbook that covers complex policy issues using easy-to-understand concepts! STATE AND LOCAL PUBLIC FINANCE provides you with a clear analysis of federal finance practices, and it focuses on state and local government policy as well. Because it's uncomplicated and yet thorough, STATE AND LOCAL FINANCE is perfect for anyone from economics majors early in their studies to graduate students in Public Administration.

Table of Contents

PART I INTRODUCTION	1	(50)
Why Study State and Local Government Finance?	3	(28)
Headlines	3	(26)
Fiscal Characteristics of the Subnational Public Sector	6	(8)
Diversity of Subnational Governments	14	(9)
International Comparison	23	(2)
Fiscal Role of Subnational Governments	25	(4)
Summary	29	(1)
Discussion Questions	30	(1)
Selected Reading	30	(1)
Microeconomic Analysis: Market Efficiency and Market Failure	31	(20)
Headlines	31	(15)
The Efficiency of the Market	32	(3)
When Markets Are Not Efficient	35	(5)
Distributional Concerns	40	(1)
Efficient Provision of Public Goods	41	(4)
Application to State and Local Governments	45	(1)
Application 2.1 Public and Private Provision of Public Safety	46	(2)
Summary	48	(1)
Discussion Questions	49	(1)
Selected Reading	50	(1)
PART II PUBLIC CHOICE AND FISCAL FEDERALISM	51	(88)
Public Choice Without Mobility: Voting	53	(22)
Headlines	53	(16)
Fiscal Choices	54	(3)
Majority Voting	57	(7)
Alternative Voting Methods	64	(2)
Monopoly Models of Fiscal Choice	66	(3)
Application 3.1 Voting for Public School Budgets	69	(1)
Summary	70	(1)
Discussion Questions	70	(1)
Selected Readings	71	(1)
Appendix Indifference Curve Approach to Voting Models	72	(3)
Demand for State and Local Goods and Services	75	(24)
Headlines	75	(15)
Understanding and Measuring Demand	76	(6)
Evidence on Demand	82	(8)
Application 4.1 Business Demand for Government Service	90	(1)
Summary	91	(1)
Discussion Questions	92	(1)
Selected Reading	93	(1)
Appendix Characterizing Demand	93	(6)
Public Choice Through Mobility	99	(20)
Headlines	99	(17)
The Tiebout Hypothesis	101	(1)
Evaluation of the Model	102	(7)
Extensions of the Tiebout Model	109	(5)
Public Choice: Evidence and Reality	114	(2)
Summary	116	(1)
Discussion Questions	117	(1)
Selected Reading	118	(1)
Organization of Subnational Government	119	(20)
Headlines	119	(17)
The Economic Issues	120	(4)
Optimal Government Size	124	(6)
Policy Applications	130	(6)
Summary	136	(1)
Discussion Questions	137	(1)
Selected Readings	138	(1)
PART III PROVISION OF STATE AND LOCAL GOODS AND SERVICES	139	(154)
Costs and Supply of State and Local Goods and Services	141	(29)
Headlines	141	(14)
Measurement and Production of Government Services	142	(7)
Productivity and Costs	149	(6)
Application 7.1 Technology and the Production of Public Safety	155	(10)
Private Provision of Public Services	158	(7)
Application 7.2 Producing City Fire Protection Services	165	(2)
Application 7.3 Privatizing Entire State Departments	167	(1)
Summary	167	(1)
Discussion Questions	168	(1)
Selected Readings	169	(1)
Pricing of Government Goods---User Charges	170	(27)
Headlines	170	(13)
Types and Use of Charges	171	(3)
Theory of User Charges	174	(9)
Application 8.1 Pricing at Congested Tennis Courts	183	(1)
Application 8.2 Parking Fees and Parking Meters	184	(10)
Application of User Charges	186	(7)
International Comparison	193	(1)
Summary	194	(1)
Discussion Questions	195	(1)
Selected Reading	196	(1)
Intergovernmental Grants	197	(33)
Headlines	197	(16)
Grants in the U.S. Fiscal System	198	(3)
Purposes of Grants	201	(2)
Types of Grants	203	(3)
Economic Effects: Theory	206	(7)
Application 9.1 Health Care and the Changing Composition of Grants	213	(12)
Economic Effects: Evidence	216	(5)
Intergovernmental Grant Policy	221	(3)
International Comparison	224	(1)
Summary	225	(1)
Discussion Questions	226	(1)
Selected Reading	227	(1)
Appendix Indifference-Curve Analysis of Grants	227	(3)
Borrowing and Debt	230	(34)
Headlines	230	(29)
The Role of Debt Finance	231	(9)
Tax Exemption for State and Local Bond Interest	240	(6)
Implications and Analysis of the Tax Exemption	246	(13)
Application 10.1 Financing for Sports Facilities: New Options	259	(2)
Summary	261	(1)
Discussion Questions	262	(1)
Selected Reading	263	(1)
The Budget Process	264	(29)
Headlines	264	(26)
State Budget Results	265	(5)
The State Budget Schedule	270	(5)
State Budgeting Rules	275	(8)
Tax and Expenditure Limits	283	(7)
Summary	290	(1)
Discussion Questions	291	(1)
Selected Reading	292	(1)
PART IV REVENUE FOR STATE--LOCAL GOVERNMENTS	293	(200)
Principles of Tax Analysis	295	(23)
Headlines	295	(18)
The Economic Issues: Incidence and Efficiency	296	(3)
Single-Market Tax Analysis	299	(9)
Multimarket Analysis	308	(5)
Application 12.1 State Diesel Fuel Taxes: Multimarket Analysis in Practice	313	(1)
Summary	314	(1)
Discussion Questions	315	(1)
Selected Readings	315	(1)
Appendix Indifference-Curve Analysis of Tax Efficiency	315	(3)
The Property Tax: Institutions and Structure	318	(30)
Headlines	318	(14)
Property Tax Reliance and Trends	319	(1)
The Property Tax Process	320	(4)
Property Assessment	324	(8)
Application 13.1 Opportunity Cost and the Value of Leased Commercial Properties	332	(13)
Property Tax-Relief or Reduction Measures	334	(11)
Summary	345	(1)
Discussion Questions	346	(1)
Selected Readings	347	(1)
Property Tax: Economic Analysis and Effects	348	(24)
Headlines	348	(21)
Property Taxes as Capital Taxes	349	(9)
Is the Property Tax Regressive?	358	(4)
Land Value Taxation	362	(2)
Voting on Property Taxes	364	(5)
Summary	369	(1)
Discussion Questions	370	(1)
Selected Readings	371	(1)
Sales and Excise Taxes	372	(34)
Headlines	372	(10)
Reliance on Consumption Taxes	373	(4)
Consumption Tax Structure Issues	377	(5)
Application 15.1 Sales Taxes on Services	382	(12)
Economic Analysis: Efficiency	387	(7)
Application 15.2 Cigarette Taxes and Cigarette Smuggling	394	(1)
Application 15.3 E-Commerce and State Taxation	395	(2)
Application 15.4 The Streamlined Sales Tax Project	397	(6)
Economic Analysis: Equity	399	(4)
Summary	403	(1)
Discussion Questions	404	(1)
Selected Readings	405	(1)
Income Taxes	406	(30)
Headlines	406	(12)
Reliance on Income Taxes	408	(2)
Income Tax Structure	410	(7)
Economic Analysis	417	(1)
Application 16.1 Federal Collection of State Taxes	418	(5)
Application 16.2 State Income Taxation and an Aging Population	423	(9)
The Choice of State Tax Structure	426	(6)
Summary	432	(1)
Discussion Questions	433	(1)
Selected Readings	434	(2)
Business Taxes	436	(25)
Headlines	436	(3)
Reliance on Business Taxes	437	(2)
Application 17.1 Tax Avoidance Through Holding Companies	439	(18)
Business Tax Structure Issues	440	(9)
Economic Analysis	449	(8)
Application 17.2 Discriminatory Business Taxes: The Insurance Case	457	(1)
Summary	458	(1)
Discussion Questions	459	(1)
Selected Readings	460	(1)
Revenue from Government Monopoly and Regulation	461	(32)
Headlines	461	(7)
Economics of Government Monopoly	462	(6)
Application 18.1 Your City: Brought to You by All Everything Corp.	468	(7)
Operation of Government Monopoly	469	(6)
Application 18.2 New Hampshire Sells Liquor	475	(11)
Application 18.3 Beating the Odds: Betting Syndicates	486	(1)
Application 18.4 METOO-1: Personalized and Specialty License Plates	487	(2)
Summary	489	(1)
Discussion Questions	490	(1)
Selected Readings	491	(2)
PART V APPLICATIONS AND POLICY ANALYSIS	493	(180)
Education	495	(50)
Headlines	495	(22)
Financing Education	499	(18)
Application 19.1 State Attempts to Reform Education Finance: The Cases of California and Michigan	517	(12)
Producing Education	520	(9)
Application 19.2 School Size and Performance	529	(13)
International Comparison	538	(4)
Summary	542	(1)
Discussion Questions	543	(1)
Selected Readings	544	(1)
Transportation	545	(38)
Headlines	545	(22)
Financing Transportation: Current Practice	547	(7)
International Comparison	554	(2)
Financing Transportation: Theoretical Issues and Alternative Practices	556	(11)
Application 20.1 Gasoline Prices, Consumption, and Taxes	567	(11)
Application 20.2 Evaluating State Transportation Policy: The Michigan Case	578	(2)
Summary	580	(1)
Discussion Questions	581	(1)
Selected Reading	582	(1)
Health and Welfare	583	(50)
Headlines	583	(45)
Poverty and Health Care in the United States	585	(6)
Financing Welfare and Health-Care Services: Major Programs	591	(19)
Financing Health and Welfare Services: Policy and Structural Issues	610	(16)
International Comparison: Providing Health-Care Services	626	(2)
Summary	628	(2)
Discussion Questions	630	(2)
Selected Readings	632	(1)
Economic Development	633	(40)
Headlines	633	(18)
Interstate Differences in Economic Conditions	635	(6)
Interstate Differences in Fiscal Policy	641	(10)
Application 22.1 Enterprise Zones (EZs)	651	(15)
Effects of Fiscal Factors: Theory	654	(5)
Effects of Fiscal Factors: Evidence	659	(5)
Policy Issues	664	(2)
Application 22.2 Business Climate Studies and Rankings	666	(2)
Application 22.3 Assembling Land for Public Use	668	(2)
Summary	670	(1)
Discussion Questions	671	(1)
Selected Reading	672	(1)
References	673	(25)
Subject Index	698	(14)
Name Index	712