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Erschienen in:
1988 | OriginalPaper | Buchkapitel
On Measuring the Welfare Cost of Public Expenditure: A Simple General Equilibrium Approach
verfasst von : Wilhelm Pfähler
Erschienen in: Welfare and Efficiency in Public Economics
Verlag: Springer Berlin Heidelberg
Enthalten in: Professional Book Archive
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Economists have long been aware that taxes produce a welfare cost (efficiency loss, excess burden) to the economy by distorting resource allocation. In view of the concern of economists over resource allocation, it is surprising how few studies attempt to calculate this welfare cost. The pioneer in this work has been Harberger (1964a, 1964b, 1966, 1974) who has drawn on Hotelling’s (1938) earlier formulations and provided calculations of the welfare costs of a number of tax distortions.