CHAP10-State-and-Local-Government-Expenditures-公共金.ppt
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1、Prepared by:FERNANDO QUIJANO,YVONN QUIJANO,KYLE THIEL&APARNA SUBRAMANIAN10State and Local Government Expenditures 2007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberPublic Finance and Public Policy,2/eJonathan GruberChapter 10 State and Local Government Expenditures 2007 Worth
2、 Publishers Public Finance and Public Policy,2/e,Jonathan GruberState and Local Government Expenditures10.3 Redistribution AcrossCommunities10.2 Optimal Fiscal Federalism10.1 Fiscal Federalism in theUnited States and AbroadChapter 1010.4 Conclusionoptimal fiscal federalism Thequestion of which activ
3、ities should take place at which level of government.2Chapter 10 State and Local Government Expenditures 2007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberFiscal Federalism in the United States and Abroad10.1intergovernmental grants Payments from one level of government to an
4、other.3Chapter 10 State and Local Government Expenditures 2007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberFiscal Federalism in the United States and Abroad10.1Spending and Revenue of State and Local Governmentsproperty tax The tax on land and any buildings on it,such as com
5、mercial businesses or residential homes.4Chapter 10 State and Local Government Expenditures 2007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberChapter 10 State and Local Government Expenditures 2007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberFiscal Fe
6、deralism in the United States and Abroad10.1Fiscal Federalism Abroadfiscal equalization Policies by which the national government distributes grants to subnational governments in an effort to equalize differences in wealth.6Chapter 10 State and Local Government Expenditures 2007 Worth Publishers Pub
7、lic Finance and Public Policy,2/e,Jonathan GruberOptimal Fiscal Federalism10.2The Tiebout ModelWhat is it about the private market that guarantees optimal provision of private goods that is missing in the case of public goods?Tiebouts insight was that the factors missing from the market for public g
8、oods were shopping and competition.The situation is different when public goods are provided at the local level by cities and towns.Competition will naturally arise because individuals can vote with their feet:if they dont like the level of public goods provision in one town,they can move to the nex
9、t town.This threat of exit can induce efficiency in local public goods production.7Chapter 10 State and Local Government Expenditures 2007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberOptimal Fiscal Federalism10.2The Tiebout ModelThe main message of the model is that competit
10、ion across local jurisdictions places competitive pressures on the provision of local public goods.The Formal Model8Chapter 10 State and Local Government Expenditures 2007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberChapter 10 State and Local Government Expenditures 2007 Wor
11、th Publishers Public Finance and Public Policy,2/e,Jonathan GruberOptimal Fiscal Federalism10.2Problems with the Tiebout ModelThe Tiebout model requires equal financing of the public good among all residents.Problems with Tiebout Financinglump-sum tax A fixed taxationamount independent of a personsi
12、ncome,consumption of goods and services,or wealth.10Chapter 10 State and Local Government Expenditures 2007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberOptimal Fiscal Federalism10.2Problems with the Tiebout ModelTowns typically finance their public goods instead through a pr
13、operty tax.The problem that property taxation causes is that the poor chase the rich.Problems with Tiebout Financingzoning Restrictions that townsplace on the use of real estate.Zoning regulations protect the tax base of wealthy towns by pricing lower-income people out of the housing market.11Chapte
14、r 10 State and Local Government Expenditures 2007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberChapter 10 State and Local Government Expenditures 2007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberOptimal Fiscal Federalism10.2Evidence on the Tiebout Mod
15、elA testable implication of the Tiebout model is that when people have more choice of local community,the tastes for public goods will be more similar among town residents than when people do not have many choices.Resident Similarity Across Areas13Chapter 10 State and Local Government Expenditures 2
16、007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberChapter 10 State and Local Government Expenditures 2007 Worth Publishers Public Finance and Public Policy,2/e,Jonathan GruberEVIDENCE FOR CAPITALIZATION FROM CALIFORNIAS PROPOSITION 13Californias Proposition 13 became law in 19
17、78.Proposition 13 mandated that the maximum amount of any tax on property could not exceed 1%of the“full cash value”of the property.The full cash value was defined as the value as of 1976,with annual increases of 2%at most.Each$1 of property tax reduction increased house values by about$7.Full capit
18、alization of lower property taxes into house prices would imply that house prices should rise by the present discounted value of reduced future tax payments.In principle,the fall in property taxes would result in a future reduction in public goods and services,which would lower home values.The fact
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