State and Local Public Finance (Second Edition) ((Second Edition) (Economic Science Translation Series))

Author: Fisher
Publisher:
Publication Date: 2000-07-01
Features: This book verifies and analyzes fiscal practices and issues in the U.S. federal fiscal system, with a focus on the behavior and policies of state and local governments. This new edition includes theoretical improvements: (1) Updated data and information with new content; (2) Added numerous examples and illustrations; (3) Enhanced "International Comparisons." It is believed to be an ideal reading for college students studying public finance courses and those with some knowledge of economic principles. State and Local Finance verifies and analyzes fiscal practices and issues in the federal fiscal system, with a focus on the behavior and policies of state and local governments. The book provides a detailed description of important grant-in-aid systems; applies modern economic theory to the production and financing of services; and evaluates alternative policies. While emphasizing U.S. institutions and issues, most of the economic analysis is applicable to all federations. This new edition also considers many changes and incorporates suggestions from readers and critics, so I hope it will be improved. , all data and institutional information has been updated with the most recent available data, and more graphics are used to illustrate information, making it more engaging and attractive. Second, the large number of newly added examples and illustrations seems to at least meet the readers' needs for in-depth learning. Those illustrations include many new cases and additional content to introduce the headings of each chapter. Third, "International Comparisons" accounts for about one-third of the chapters, covering how the general principles and issues discussed in this book are applied to other political systems and proposing alternative solutions used in the U.S. Fourth; many chapters, especially those on demand (4), liquidity (5), fiscal charges (8), income taxes (16), and government monopoly (18), have been substantially improved through revisions, making them easier to understand, clarifying debates, or adding more information. The book is organized by chapter. Part 1 still presents an overview of the state-local sector, discussing the economic role of state and local governments and a critique of the microeconomic rationale for general government provision. Basic fiscal institutions and core economic theories are introduced in Parts 2 to 3. The order of arrangement is as follows: Part 2 discusses the structure of state and local governments and their relationship with fiscal functions, Part 3 discusses the supply of services— including costs, fiscal charges, grants, and the role of borrowing, Part 4 analyzes state-local taxes. However, core chapter content is visible throughout, addressed by citing material from other chapters. Changes in this edition include: demand analyzed based on voting and liquidity, grants moved up for discussion (at the suggestion of many), and budget processes combined with service supply for examination. Part 5 applies institutional information and economic analysis from the core sections to four categories of policy issues. The chapter on welfare programs is newly added. Finally, at the end of each chapter, the original summary of discussed issues is retained, but the discussion questions for those and new issues (for student assignments and review) are now arranged by the instructor.