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The New Palgrave Dictionary of Economics pp 10962–10973Cite as

Palgrave Macmillan

Public Finance

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Abstract

Public finance may well be the oldest branch of economics. It concerns not only the effects of fiscal operations on the market but also principles of public sector economics, which address a distinct set of issues and are linked closely to the perspectives of political and social science. This article covers (a) expenditure on public goods and transfers, including its macroeconomic effects as analysed by the classical and the Keynesian schools, and (b) taxation, including issues of tax equity and tax efficiency, definitions of income, consumption and expenditure, and tax shifting and incidence.

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  1. http://link.springer.com/referencework/10.1057/978-1-349-95121-5

    Richard A. Musgrave

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  1. Richard A. Musgrave
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Musgrave, R.A. (2018). Public Finance. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1643

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