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Why the marginal social cost of funds is not the shadow value of government revenue

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dc.contributor.authorJones, Chrisen_US
dc.date.accessioned2005-05-30en_US
dc.date.accessioned2006-03-27T02:07:54Zen_US
dc.date.accessioned2011-01-05T08:32:14Z
dc.date.available2006-03-27T02:07:54Zen_US
dc.date.available2011-01-05T08:32:14Z
dc.date.created2005en_US
dc.date.issued2005en_US
dc.description.abstractNo distinction is made between the marginal social cost of public funds (MCF) and the shadow value of government revenue in the public finance literature. Their separate roles are demonstrated in this paper, where the MCF is used as a scaling coefficient to account for changes in tax inefficiency on revenue transfers made to balance the government budget, while the shadow value of government revenue is used as a scaling coefficient to convert efficiency effects into actual changes in utility. We find a revenue effect identified by Atkinson and Stern (1974) and Dahlby (1998) in the shadow value of government revenue which is not present in the MCF. It is the reason why, in the presence of distorting taxes, the shadow value of government revenue can differ from unity, whereas the MCF is always unity, for a lump-sum tax.en_US
dc.format.extent305572 bytesen_US
dc.format.extent350 bytesen_US
dc.format.mimetypeapplication/pdfen_US
dc.format.mimetypeapplication/octet-streamen_US
dc.identifier.urihttp://hdl.handle.net/1885/43025en_US
dc.identifier.urihttp://digitalcollections.anu.edu.au/handle/1885/43025
dc.language.isoen_AUen_US
dc.subjecttax inefficiencyen_AU
dc.titleWhy the marginal social cost of funds is not the shadow value of government revenueen_US
dc.typeWorking/Technical Paperen_US
local.citationseries in Economics and Econometrics no.449en_US
local.contributor.affiliationFaculty of Economics and Commerceen_US
local.description.refereednoen_US
local.identifier.citationmonthmayen_US
local.identifier.citationyear2005en_US
local.identifier.eprintid3099en_US
local.rights.ispublishednoen_US

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