Umeň Economic Studies, Department of Economics, Umeň University
Social Accounting and the Public Sector
Abstract: This paper contributes to the theory of social accounting.
As such, it tries to extend earlier literature on the welfare equivalence
of the comprehensive net national product in two main directions, both of
which refer to the public sector. One is by considering welfare measurement
problems associated with redistributive policy and public good provision,
when the public revenues are raised by distortionary taxes. The other is by
addressing the consequences of a 'federation-like' decision structure,
where independent tax and expenditure decisions are made both by the
central government and by lower level governments. In particular, the
analysis shows how so called vertical fiscal external effects, which are
associated with tax base sharing among the central and lower level
governments, contribute to social accounting.
Keywords: Welfare measurement; second best; public goods; economic federations; (follow links to similar papers)
JEL-Codes: H21; H23; H41; H70; I31; (follow links to similar papers)
36 pages, December 13, 2004
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