Modern Public Finance

John M. Quigley was I. Donald Terner Distinguished Professor of Economics at the University of California, Berkeley. Eugene Smolensky is Professor of Public Policy and Dean of the Graduate School of Public Policy at the University of California, Berkeley.

The standard of the papers is consistently high...They are not simply surveys of recent developments: they also make new contributions. Specialists in public economics will find this volume invaluable, and it also provides an excellent account of the current state of play in the subject for non-specialists.

• 1. Introduction John M. Quigley and Eugene Smolensky PART 1. DISTRIBUTION, STABILIZATION, DYNAMICS 2. The Distribution of the Tax Burden A. B. Atkinson A. Comments on Chapter 2 by James M. Poterba B. Comments on Chapter 2 by Frank Levy 3. Public Sector Dynamics Alan J. Auerbach A. Comments on Chapter 3 by Don Fullerton B. Comments on Chapter 3 by David Romer PART 2. PUBLIC GOODS, FEDERALISM 4. Public Goods and the Invisible Hand Suzanne Scotchmer A. Comments on Chapter 4 by Daniel L. Rubinfeld 5. Federalism and Government Finance Wallace E. Oates A. Comments on Chapter 5 by Helen F. Ladd B. Comments on Chapter 5 by Peter Mieszkowski PART 3. TAX POLICY 6. The Study and Practice of Income Tax Policy Charles E. McLure, Jr., and George R. Zodrow PART 4. OPTIMAL TAXATION AND EXTENSIONS 7. Optimal Taxation and Government Finance J. A. Mirrlees 8. Integrating Allocation and Stabilization Budgets Peter Diamond 9. Optimal Taxation and Public Policy Robert H. Haveman 10. Reflections on Optimal Tax Theory Richard Arnott Notes References Acknowledgment Index