Benveniste 83: Arnold Kling 82: Allen Berger, Gerald Hanweck and David B. Picking something original also gives you a chance to do some fresh research. Students of economics will find summaries of theory and models in key areas of micro- and macroeconomics. The federal government gives grants to state and local governments for a variety of governmental programs, including those for public education, welfare, and public roads and highways. Nonetheless, the large number of public finance economists actively working with elected officials and other policy makers indicates that the field of public finance often does effectively influence public policy. Suppose further that Jack and Jill can bargain over the planting of the flower garden at zero cost. The Coase Theorem states that when property rights are well defined and the transaction costs involved in the bargaining process between the parties are sufficiently low, the private market may provide an economically efficient outcome even though externalities are present.
A slice of pizza is clearly a rivalrous good. In the coming years, public finance economists will likely continue to advance our knowledge of the field and play an important role in influencing key debates over public policy issues. Some studies focus on macro-issues, and others examine specific economic issues. An inquiry into the nature and causes of the wealth of nations. We operate round-the-clock to ensure that anybody who needs writing help gets it on time. Following the section on policy implications, most research papers discuss future directions—what are the new but related questions that are likely to be explored by economists; what new methods are being developed to analyze data on the topic; what insights from other disciplines are likely to be applied to this topic; what policies are likely to be developed related to the topic? Gustafson 80: Allen Berger and David B.
The tax shifts up the supply curve vertically by the amount of the tax per unit. When the provision of the public good is left to private markets, individuals will purchase units of the public good until their marginal private costs are equal to their marginal private benefits. The focus of this research paper is emphasizing on the recent advances in our comprehension of this field as well as ascertaining alternative approaches that can be of use in the future. In particular, the hypothesis asserts that the economy generally does not waste information, and that expectations depend specifically on the structure of the entire system. Public finance is concerned with both positive and normative economic issues. In general an economy is a system of producing and distributing goods and services and rules that set the value of each according to the demand and rarity of the resources. The high degree of inelasticity of the male labor supply implies that the burden of the income tax falls squarely on male workers, rather than employers, and that small increases in income tax rates are unlikely to create large deadweight losses from distortion of the incentives to work.
The format of most research papers—theory, applications, empirical evidence, policy implications—is consistent with this common approach to economic analysis. Here are just a few of the questions in the current debates over public policy that public finance economists are now trying to answer: What is the best way to keep Social Security sustainable without inducing severe distortions on work incentives? More specifically, too little of the public good is provided by the private market. The labor supply of women, particularly married women, has been found to be much more elastic than the labor supply of men. Business strategies are also the great potential topic for the research paper: despite the incredible diversity of the products and services, the successful strategies are limited and mostly based on the unchangeable traits of human nature and society in general. Issues of income inequality are sometimes taken into account by theoretical studies of the optimal design of taxation. It is farfetched to think that private markets can solve problems of externalities and achieve economically efficient outcomes on their own in situations of industrial pollution.
Americans are debating the proper role of the government in company bailouts, the effectiveness of tax cuts versus increased government spending to stimulate the economy, and potential effects of deflation. What are the implications of financial regulation? These are just but a few of the most current intriguing economic topics that you can use for your term paper. Tax competition can occur between countries, states, or smaller units of government. Historically, some actors and rock stars have moved from one country to another, seeking lower taxes. These elements are illustrated by the different contributions of this special issue.
They apply different computational tools and econometrics tests linear, nonlinear, parametric and nonparametric and use recent data. The increased dependence on the market forces can assuage the moral risks and associated problems in the government-sponsored finance and insurance. If the data lend support to the model, the model can then be used to predict outcomes. The elasticity of demand and the elasticity of supply are the factors that determine the incidence and deadweight loss of a tax. Finally, we relate the obtained results to important facts and economic events. Budget of the United States.
Review of Economics and Statistics, 36, 387-389. This research paper attempts to examine the developments in the two fields and how they are interrelated. For example, people with children will choose to live in locations with high tax rates for schools and well-funded public schools, whereas people without children, such as retirees, will choose to live in locations with low school tax rates and poorly funded public schools. A related approach could consider whether or not this is a classic zero-sum game, where a revenue increase in one gaming area decreases revenue in another. Will the ultimate effect of this reversal increase or decrease state and medical industry costs? The Tiebout model outlined previously has spawned a rich empirical literature.
Thus, the optimal tax rate is higher for gasoline than for pretzels, assuming that gasoline is more inelastically demanded than pretzels. But if you have strong background in mathematics especially linear algebra and calculus, please consider to do some theoretical researchs. Begin by correlating electric vehicle sales with gasoline costs. Studies have also examined the general equilibrium effects of Social Security reform, which would switch the current pay-as-you-go system to a system at least in part based on investment accounts similar to private retirement savings accounts. Other studies have examined the potential fiscal impacts of continued growth in spending on Medicaid and Medicare. Use historical precedents to support your conclusions.