Principles of Public Finance

Dalton, Hugh

doi:10.4324/9781315016948

Cited by 16 publications

(15 citation statements)

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“…2 But it was not just this concept that motivated Robbins; it was also the quantitative predictions that went with it. Thus Dalton ([1928] 2003, 83) postulated a marked inelasticity of supply of effort, claiming that this inelasticity of supply, which is a certainty over a short period, is likely to persist over long periods, especially if the demand for income by those who supply resources is also, in terms of effort and sacrifice, highly inelastic. And there are grounds for believing that this state of things often prevails.…”

Section: The Robbins Approach To Labor Supply Analysismentioning

confidence: 97%

The Offer-Curve Approach to Labor Market Analysis: From Marshall-Pigou Over Robbins and Buchanan into Oblivion?

Ambrosi¹

2011

History of Political Economy

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In the pure theory of foreign trade, offer curves are still a well-known textbook device for analyzing conflicting interests between countries engaged in foreign trade. In his early days Alfred Marshall suggested that this analytical device be used also for industrial disputes between workers' trade unions and employers within a specific country. Marshall's successor as Cambridge professor of political economy, A. C. Pigou, elaborated this suggestion. With express reference to Marshall, and mentioning the assistance of J. M. Keynes, Pigou used the offer-curve approach for analyzing the interaction between workers and employers as negotiators in wage bargains. But the next step along this line of analysis strangely did not occur in “Marshallian” Cambridge but in the rival LSE. Lionel Robbins used the offer-curve approach and criticized Pigou (and, incidentally, Frank Knight as well) for deficiencies in “backbending” labor supply analysis. After a very long silence over this matter in the economic literature, James Buchanan, in 1971, unsuccessfully tried to propagate Lionel Robbins's use of the offer-curve approach for labor supply analysis. He praised its general equilibrium aspects as being superior to conventional approaches. The present contribution traces these episodes and investigates why there is continuing reluctance in labor market analysis to employ an otherwise well-established analytical instrument.

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Section: The Robbins Approach To Labor Supply Analysismentioning

confidence: 97%

The Offer-Curve Approach to Labor Market Analysis: From Marshall-Pigou Over Robbins and Buchanan into Oblivion?

Ambrosi¹

2011

History of Political Economy

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“…The former denotes the amount of money received over a period of time either as payment for work, goods, or services or as profit on a capital only, while the latter denotes the amount of money or goods received either as income or as any refundable amount in the future. Thus, in this context, the opinion of Dalton (1948) is still notable:…”

Section: Concept Of Income and Taxationmentioning

confidence: 99%

“…The former is a compulsory charge imposed by a public authority, but the latter is voluntary. In Taussig's view (as quoted in (Dalton, 1948), "The essence of a tax, as distinguished from other charges by Government is the absence of a direct quid pro quo between the taxpayer and the public authority" (p. 26). Taxation is the main source of government revenue.…”

Section: Concept Of Income and Taxationmentioning

confidence: 99%

Personal Income Tax Structure in Nepal: An evaluation

Bahadur

Karn

2019

NCC Jnl

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Purpose – This paper aims to evaluate the structure of the PIT in Nepal. Methodology/design/approach –This study adopts descriptive and quantitative research approach, sourcing the data and information from both primary and secondary, which include books, reports (economic survey, report/statement of Central Bureau of Statistics, etc.), journals, bulletins, newspapers, websites, etc. For the objective result, we use statistical tools to confirm the value of the PIT structure. Findings and conclusion – The PIT is a major ingredient of income tax, which contains a complex and critical structure in income components, exemption limit, tax base, units, and tax rates. The study found increment in the exemption limit based on equity, equality and with the rate of inflation. However, the method of determination of exemption limit was unscientific. The tax slabs and rates observed three categories progressive, digressive and mild progressive under the three governments regimes inconsistent with national tax policy. Different era of government imposed the tax burden on different slabs and observed decline in tax progressivity in the later year. In the studied period, the PIT payers sacrificed27.81% amount as tax and saved only 72.19% of their total taxable net earnings. It showed a high rate of tax. The tax burden on PIT reached as high as 45.49%in 1989-90 and as low as 24.13% in 1998-99. The gap between maximum and minimum ranged 22.89%, with a great disparity in the tax policy and an average tax, the burden remained 32.56% during the studied period. A high rate of tax encourages the evasion; taxpayers alter their decisions on the financial activities, which reduce the benefit of both the public authorities and taxpayers or citizens. Good tax policy should strive to provide benefit to both the concerned parties. Originality/value – This is descriptive research to find out the structure of Piton Nepal, which is derived and written by the author using the primary as well as secondary sources of data and information. Thus, this is original writing in the context of Nepal and in PIT literature.

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“…Barro (1990) and Bleaney et al (2001) in the spirit of public expenditure composition theory postulated that public expenditure can either be productive or unproductive, the productivity of public expenditures depends on what is being financed (Adam and Bevan, 2005;Gemmell et al, 2011). Though there are different methods used to categorize public expenditure, there is some consensus that it can be broken down into capital expenditure and recurrent expenditure (see (Dalton, 1954;Aronson, 1985;Hayman, 1990;Mazorodze, 2018)).…”

Section: Theoretical Framework and Hypothesis Developmentmentioning

confidence: 99%

Public Expenditure and Economic Growth Causal Linkage: Disaggregated Empirical Analysis for Zimbabwe

Mbanyele

2019

Asian Development Policy Review

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The study explored whether government spending in Zimbabwe is an effective channel to growing the economy using a sample of economic data from 1980 to 2018. The ARDL model and VECM were applied using a dis-aggregated analysis of capital expenditure and consumption expenditure after controlling for growth variables like inflation, foreign direct investments, and real interest rates. To further check the effectiveness of government expenditure in Zimbabwe, three dummy variables were used: 1991-1995 Economic Structural Adjustment Program (ESAP), 2009 currency reform, and recurring droughts. The results showed a significant non-causal relationship between economic growth and consumption expenditure, in contrast to an unidirectional short-run and long run causal relationship running from economic growth to capital expenditure. Economic variables such as inflation, foreign direct investments and interest rates showed statistically significant relationships with economic growth. Furthermore, the results revealed that droughts and the use of a multi-currency system have long-run negative relationships with economic growth, and both adversely affect consumption expenditure's relationship with economic growth. Policy implications emerge from the study. In the Keynesian spirit, there is a need for the government to improve expenditure efficiency and raise more revenue to sustain its activities, rather than cut consumption expenditure as was done during the ESAP period. This is not only counterproductive, but may lead to unwarranted suffering of the public due to excessive austerity measures. Secondly, there is a need to adopt either a weaker currency than the US dollar, or introduce a local currency after establishing sound economic fundamentals. Contribution/ Originality: This study contributes to the existing public policy literature by analyzing the short-run and long-run causal relationship between dis-aggregated public expenditure and economic growth in Zimbabwe. It is one of the few studies which have investigated how drought and currency reform moderates the expenditure and growth relationship in low-income countries.

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Principles of Public Finance

Cited by 16 publications

References 0 publications

The Offer-Curve Approach to Labor Market Analysis: From Marshall-Pigou Over Robbins and Buchanan into Oblivion?

The Offer-Curve Approach to Labor Market Analysis: From Marshall-Pigou Over Robbins and Buchanan into Oblivion?

Personal Income Tax Structure in Nepal: An evaluation

Public Expenditure and Economic Growth Causal Linkage: Disaggregated Empirical Analysis for Zimbabwe

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