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    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/59160

    Title: Political Economy and the Social Marginal Cost of Public Funds: The Case of the Meltzer-Richard Economy
    Authors: Hsu,K. W. Kevin;Yang,C. C.
    Contributors: 政大財政系
    Keywords: Wage rigidity;Firm community;Catastrophe;Hysteresis
    Date: 2008-07
    Issue Date: 2013-08-26 16:11:07 (UTC+8)
    Abstract: In previous studies on the social marginal cost of public funds (SMCF), the existing tax system has been assumed to be either arbitrary or optimal. This note explores another possibility: the existing tax system itself represents a political equilibrium. Our exploration proceeds in Meltzer and Richards (1981) political economy of redistributive taxation. An interesting feature of our finding is that the degree of income inequality as measured by the ratio of mean to median income can play an important role in estimating the SMCF and judging whether the level of redistribution is excessive or inadequate.
    Relation: Economic Inquiry, 46(3), 401-410
    Data Type: article
    DOI 連結: http://dx.doi.org/10.1111/j.1465-7295.2007.00089.x
    DOI: 10.1111/j.1465-7295.2007.00089.x
    Appears in Collections:[財政學系] 期刊論文

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