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Статті в журналах з теми "Marginal social cost of public funds"

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Автор: Grafiati

Опубліковано: 22 червня 2024

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1

Bessho, Shun-ichiro, and Masayoshi Hayashi. "Estimating the Social Marginal Cost of Public Funds." Public Finance Review 41, no. 3 (February 19, 2013): 360–85. http://dx.doi.org/10.1177/1091142113475699.

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2

Dahlby, Bev. "Progressive taxation and the social marginal cost of public funds." Journal of Public Economics 67, no. 1 (January 1998): 105–22. http://dx.doi.org/10.1016/s0047-2727(97)00049-2.

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3

Svensson, Mikael, and Lars Hultkrantz. "A Comparison of Cost-Benefit and Cost-Effectiveness Analysis in Practice: Divergent Policy Practices in Sweden." Nordic Journal of Health Economics 5, no. 2 (February 16, 2017): 41–53. http://dx.doi.org/10.5617/njhe.1592.

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This paper compares the implementation of the two economic evaluation methods Cost-Effectiveness/Utility (CEA/CUA) and Cost-Benefit Analysis (CBA) as tools for allocation of national public funds in the health and transport sector in Sweden, respectively. We compare the recommended values for important economic parameters such as the social discount rate, the marginal cost of public funds, and the explicit and implicit valuation of health, and document a number of substantial and unexplained differences in implementation. Such differences are problematic considering that the increasing use of economic evaluations to guide policy decisions also has implied an overlap of application areas. We conclude with a discussion on the need of a harmonized procedure for economic evaluations in the public sector in order to reduce the risk of inefficient allocations purely due to different applications of the methods. Published: Online February 2017. In print December 2017.

4

Moore, Mark A., Anthony E. Boardman, and Aidan R. Vining. "The choice of the social discount rate and the opportunity cost of public funds." Journal of Benefit-Cost Analysis 4, no. 03 (December 2013): 401–9. http://dx.doi.org/10.1515/jbca-2013-0023.

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The decades-old literature on the correct method for choosing and estimating a social discount rate (SDR) has resulted in two, largely opposing viewpoints. This note seeks to clarify the key sources of disagreement between these two camps. One view advocates that the choice should be based chiefly on the social opportunity cost of the return to foregone private capital investment (SOC), and suggests a SDR of around 7%. The other viewpoint, expressed by the authors, argues that the choice should be based on the social rate of time preference (STP), the rate at which society is willing to trade present for future consumption, suggesting a SDR of around 3.5%. Because of the fundamentally normative basis of the SDR choice, neither approach generates testable hypotheses that would allow falsification. For government project evaluation, the choice ultimately depends on the opportunity cost of public funds, which in turn depends on how fiscal policy actually operates. The STP approach contends that governments set targets for deficits and public debt, so that a marginal government project will be tax-financed, largely crowding out current consumption. The SOC belief is that governments set revenue targets, so that any government project will be deficit-financed on the margin, which will largely crowd out private investment. The authors also argue that a SDR based on the STP approach is appropriate for: benefit-cost analysis of government regulations, self-financing government projects, and government cost-effectiveness studies.

5

KEVIN HSU, K. W., and C. C. YANG. "POLITICAL ECONOMY AND THE SOCIAL MARGINAL COST OF PUBLIC FUNDS: THE CASE OF THE MELTZER-RICHARD ECONOMY." Economic Inquiry 46, no. 3 (July 2008): 401–10. http://dx.doi.org/10.1111/j.1465-7295.2007.00089.x.

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6

Liu, Liqun. "A marginal cost of funds approach to multi-period public project evaluation: implications for the social discount rate." Journal of Public Economics 87, no. 7-8 (August 2003): 1707–18. http://dx.doi.org/10.1016/s0047-2727(01)00179-7.

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7

Prastiwi, Dewi, and Dhiah Fitrayati. "Analisis Penentuan Tarif Layanan Bus Kota Berdasarkan Marginal Cost Pricing (Studi Pada Perum Damri Kota Surabaya)." AKRUAL: Jurnal Akuntansi 5, no. 1 (October 25, 2013): 75. http://dx.doi.org/10.26740/jaj.v5n1.p75-98.

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AbstractThe concept of regional autonomy has implications for financing in all sectors, including transport. To be able to provide adequate public transport facilities, one of the opportunities is the mobilization of funds through tariff collection mechanism. Determination of transport rates set out in the local rules based approach Incrementalism and line items. This approach represents a lack of economic and psychological capabilities and suitability of the benefits received by the sacrifices that have been issued. Therefore research is needed to analyze the determination of rates of local regulations bound public services locally. This study aimed to analyze the determination of the city bus rate by Cost Pricing (MCP) marginal approach, that was the determination of tariff by considering the social benefits received by customers, so if there were additional rates so consumers should receive additional social benefits. Based MCP, Perum Damri can assign the same rate if the consumer gets the same standard of service, but if there was a decline in the standard of service, then the rates should be differentiated.

8

Hendren, Nathaniel, and Ben Sprung-Keyser. "A Unified Welfare Analysis of Government Policies*." Quarterly Journal of Economics 135, no. 3 (March 5, 2020): 1209–318. http://dx.doi.org/10.1093/qje/qjaa006.

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Abstract We conduct a comparative welfare analysis of 133 historical policy changes over the past half-century in the United States, focusing on policies in social insurance, education and job training, taxes and cash transfers, and in-kind transfers. For each policy, we use existing causal estimates to calculate the benefit that each policy provides its recipients (measured as their willingness to pay) and the policy’s net cost, inclusive of long-term effects on the government’s budget. We divide the willingness to pay by the net cost to the government to form each policy’s Marginal Value of Public Funds, or its ``MVPF''. Comparing MVPFs across policies provides a unified method of assessing their effect on social welfare. Our results suggest that direct investments in low-income children’s health and education have historically had the highest MVPFs, on average exceeding 5. Many such policies have paid for themselves as the government recouped the cost of their initial expenditures through additional taxes collected and reduced transfers. We find large MVPFs for education and health policies among children of all ages, rather than observing diminishing marginal returns throughout childhood. We find smaller MVPFs for policies targeting adults, generally between 0.5 and 2. Expenditures on adults have exceeded this MVPF range in particular if they induced large spillovers on children. We relate our estimates to existing theories of optimal government policy, and we discuss how the MVPF provides lessons for the design of future research.

9

Sandmo, Agnar. "Redistribution and the marginal cost of public funds." Journal of Public Economics 70, no. 3 (December 1998): 365–82. http://dx.doi.org/10.1016/s0047-2727(98)00040-1.

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10

Hashimzade and Myles. "The Marginal Cost of Public Funds in Growing Economies." Annals of Economics and Statistics, no. 113/114 (2014): 11. http://dx.doi.org/10.15609/annaeconstat2009.113-114.11.

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11

Ahmed, Shaghil, and Dean Croushore. "The Marginal Cost of Funds With Nonseparable Public Spending." Public Finance Quarterly 24, no. 2 (April 1996): 216–36. http://dx.doi.org/10.1177/109114219602400206.

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12

USHER, DAN. "TAX EVASION AND THE MARGINAL COST OF PUBLIC FUNDS." Economic Inquiry 24, no. 4 (October 1986): 563–86. http://dx.doi.org/10.1111/j.1465-7295.1986.tb01834.x.

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13

KONO, Tatsuhito, Makine SHIMA, and Daijiro MIZUTANI. "OPTIMAL MAINTENANCE POLICIES CONSIDERING THE MARGINAL COST OF PUBLIC FUNDS." Journal of Japan Society of Civil Engineers, Ser. D3 (Infrastructure Planning and Management) 77, no. 4 (2021): 389–99. http://dx.doi.org/10.2208/jscejipm.77.4_389.

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14

Dahlby, Bev. "The marginal cost of public funds and the flypaper effect." International Tax and Public Finance 18, no. 3 (December 18, 2010): 304–21. http://dx.doi.org/10.1007/s10797-010-9160-x.

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15

Chang, Ming Chung, and Shufen Wu. "Should Marginal Cost of Public Funds Include the Revenue Effect?" Swiss Journal of Economics and Statistics 147, no. 1 (January 2011): 1–16. http://dx.doi.org/10.1007/bf03399339.

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16

Snow, Arthur, and Ronald S. Warren. "The marginal welfare cost of public funds: Theory and estimates." Journal of Public Economics 61, no. 2 (August 1996): 289–305. http://dx.doi.org/10.1016/0047-2727(95)01535-3.

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17

Elgin, Ceyhun S., Orhan Torul, and Tugce Turk. "Marginal Cost of Public Funds under the Presence of Informality." Revista Hacienda Pública Española 241, no. 2 (June 2022): 79–103. http://dx.doi.org/10.7866/hpe-rpe.22.2.4.

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In this paper, we investigate the behavior of the marginal cost of public funds (MCF) for different taxes under the presence of informality. We build a dynamic general equilibrium model with formal and informal sectors and allow the government to use consumption, capital, and labor income taxes to raise revenue. Using country-level data on taxes, we calibrate and measure MCF for a cross-section of economies. Our results show that different taxes have distinct cost responses to changes in the informal sector size in each country: while MCF of the consumption tax decreases with the increase in the informal sector size, the MCF of the income taxes, capital and labor, display an opposite behavior. Moreover, omitting the informal sector results in an underestimation in the MCF of capital income tax and overestimation in that of the consumption tax.

18

Lockwood, Ben. "Imperfect competition, the marginal cost of public funds and public goods supply." Journal of Public Economics 87, no. 7-8 (August 2003): 1719–46. http://dx.doi.org/10.1016/s0047-2727(01)00182-7.

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19

Finkelstein, Amy, and Nathaniel Hendren. "Welfare Analysis Meets Causal Inference." Journal of Economic Perspectives 34, no. 4 (November 1, 2020): 146–67. http://dx.doi.org/10.1257/jep.34.4.146.

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We describe a frame work for empirical welfare analysis that uses the causal estimates of a policy’s impact on net government spending. This framework provides guidance for which causal effects are (and are not) needed for empirical welfare analysis of public policies. The key ingredient is the construction of each policy’s marginal value of public funds (MVPF). The MVPF is the ratio of beneficiaries’ willingness to pay for the policy to the net cost to the government. We discuss how the MVPF relates to “traditional” welfare analysis tools such as the marginal excess burden and marginal cost of public funds. We show how the MVPF can be used in practice by applying it to several canonical empirical applications from public finance, labor, development, trade, and industrial organization.

20

Liu, Liqun. "Combining Distributional Weights and the Marginal Cost of Funds." Public Finance Review 34, no. 1 (January 2006): 60–79. http://dx.doi.org/10.1177/1091142105278152.

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21

Auriol, Emmanuelle, and Michael Warlters. "The marginal cost of public funds and tax reform in Africa." Journal of Development Economics 97, no. 1 (January 2012): 58–72. http://dx.doi.org/10.1016/j.jdeveco.2011.01.003.

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22

Hansson, Ingemar, and Charles Stuart. "Tax revenue and the marginal cost of public funds in Sweden." Journal of Public Economics 27, no. 3 (August 1985): 331–53. http://dx.doi.org/10.1016/0047-2727(85)90055-6.

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23

Gahvari, Firouz. "On the marginal cost of public funds and the optimal provision of public goods." Journal of Public Economics 90, no. 6-7 (August 2006): 1251–62. http://dx.doi.org/10.1016/j.jpubeco.2005.11.001.

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24

Ruggeri, Giuseppe. "The Marginal Cost of Public Funds in Closed and Small Open Economies." Fiscal Studies 20, no. 1 (February 2, 2005): 41–60. http://dx.doi.org/10.1111/j.1475-5890.1999.tb00003.x.

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25

CHANG, MING CHUNG, and HSIAO-PING PENG. "STRUCTURE REGULATION, PRICE STRUCTURE, CROSS-SUBSIDIZATION AND MARGINAL COST OF PUBLIC FUNDS." Manchester School 77, no. 6 (December 2009): 675–98. http://dx.doi.org/10.1111/j.1467-9957.2009.02112.x.

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26

Kleven, Henrik Jacobsen, and Claus Thustrup Kreiner. "The marginal cost of public funds: Hours of work versus labor force participation." Journal of Public Economics 90, no. 10-11 (November 2006): 1955–73. http://dx.doi.org/10.1016/j.jpubeco.2006.03.006.

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27

Vásquez Cordano, Arturo L., and Edward J. Balistreri. "The marginal cost of public funds of mineral and energy taxes in Peru." Resources Policy 35, no. 4 (December 2010): 257–64. http://dx.doi.org/10.1016/j.resourpol.2010.08.002.

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28

Dahlby, Bev, and Ergete Ferede. "The stimulative effects of intergovernmental grants and the marginal cost of public funds." International Tax and Public Finance 23, no. 1 (March 11, 2015): 114–39. http://dx.doi.org/10.1007/s10797-015-9352-5.

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29

Jacobs, Bas. "The marginal cost of public funds is one at the optimal tax system." International Tax and Public Finance 25, no. 4 (January 16, 2018): 883–912. http://dx.doi.org/10.1007/s10797-017-9481-0.

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30

Ballard, Charles L., and Don Fullerton. "Distortionary Taxes and the Provision of Public Goods." Journal of Economic Perspectives 6, no. 3 (August 1, 1992): 117–31. http://dx.doi.org/10.1257/jep.6.3.117.

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Economists have long been concerned with finding an efficient level of public expenditure. The classic statement of the problem was given by Paul Samuelson (1954). An optimal level of expenditure is where the sum of the marginal rates of substitution between the public good and a reference good equals the marginal rate of transformation between the public good and the reference good (ΣMRS = MRT). However, Samuelson's formula assumes that all of the revenue needed to finance public goods can be raised with lump-sum taxes. Since this is not generally possible, the formula must be modified to account for the distortionary effects of the tax system. An appropriate modification is to multiply the cost side of the equation by a term that is commonly called the marginal cost of public funds (MCF). In the case of Samuelson's formula, where government is entirely financed with lump-sum taxes, the MCF would be exactly 1.0. In the traditional view of economists, distortionary taxes cause the MCF to be greater than one, thus raising the cost of providing public goods. In this paper, we discuss some cases where the MCF may be less than one. We will illustrate this possibility using numerical examples for labor taxes.

31

CHISARI, OMAR O., and MARTIN CICOWIEZ. "MARGINAL COST OF PUBLIC FUNDS AND REGULATORY REGIMES: COMPUTABLE GENERAL EQUILIBRIUM EVALUATION FOR ARGENTINA." Revista de análisis económico 25, no. 1 (June 2010): 79–116. http://dx.doi.org/10.4067/s0718-88702010000100004.

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32

Fortin, Bernard, and Guy Lacroix. "Labour supply, tax evasion and the marginal cost of public funds an empirical investigation." Journal of Public Economics 55, no. 3 (November 1994): 407–31. http://dx.doi.org/10.1016/0047-2727(93)01413-5.

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33

Chang, Ming Chung, and Hsiao-Ping Peng. "Laffer effect, gross substitution, marginal cost of public funds and the level property of public good provision." International Tax and Public Finance 19, no. 5 (October 15, 2011): 650–59. http://dx.doi.org/10.1007/s10797-011-9200-1.

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34

Dahlby, Bev, and Ergete Ferede. "The Marginal Cost of Public Funds and the Laffer Curve: Evidence from the Canadian Provinces." FinanzArchiv 74, no. 2 (2018): 173. http://dx.doi.org/10.1628/fa-2018-0005.

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35

Liu, Liqun. "The Marginal Cost of Funds and the Shadow Prices of Public Sector Inputs and Outputs." International Tax and Public Finance 11, no. 1 (January 2004): 17–29. http://dx.doi.org/10.1023/b:itax.0000004775.40515.f6.

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36

Usher, Dan. "The Marginal Cost of Public Funds Is the Ratio of Mean Income to Median Income." Public Finance Review 34, no. 6 (November 2006): 687–711. http://dx.doi.org/10.1177/1091142106289173.

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37

Spackman, Michael. "Social Discounting and the Cost of Public Funds: A Practitioner’s Perspective." Journal of Benefit-Cost Analysis 11, no. 2 (2020): 244–71. http://dx.doi.org/10.1017/bca.2020.5.

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AbstractSocial discounting conventions vary widely. Some differences reflect institutional constraints, but many reflect differing assumptions about how a social discount rate should be derived and applied. The divide between advocates of social opportunity cost and social time preference (STP) frameworks seems unbridgeable. There is no consensus among STP advocates on whether the social cost of funding $1 of public spending is barely more than $1 of consumption or perhaps more than $2; or on whether the covariance of public service benefits with income merits a discount rate premium that is trivial or a few percentage points. The practicalities of government fund raising are sometimes overlooked. The issues are here reviewed in the light of the literature and of experience with developing and applying social discounting regimes and extended debates within government.

38

Petohleb Černeha, Samanta, Maja Klun, and Srečko Devjak. "The Social Cost-Benefit Analysis as Estimation Methodology: Case Study for Infrastructure Projects." Central European Public Administration Review 11, no. 2 (May 9, 2014): 57–76. http://dx.doi.org/10.17573/ipar.2013.2.a03.

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Local public investments are financed by budget funds (state, county, local), debt funds (loans or credits, municipal obligations) and non-debt funds (users’ charges and methods and techniques of public-private partnership). In this paper some theoretical issues about cost-benefit analysis (CBA) and advantages and limitations in applying it are discussed. CBA is used in the public sector in making decisions where it is relatively easy to determine the costs, but the expected benefits can be difficult to express in monetary value. To ensure an equitable quantity of financial sources according to negative difference between inflows and outflows is one of the most important goals of the project. Based on theoretical framework about CBA, a calculation was made on social profitability of the project Public sewerage and water protection in the Region of Istria. The main conclusion of this paper is that if the project achieves the social profitability, net profit and high economic internal rate of return, it is possible to accept the realization of the project.

39

Barrage, Lint. "The Fiscal Costs of Climate Change." AEA Papers and Proceedings 110 (May 1, 2020): 107–12. http://dx.doi.org/10.1257/pandp.20201082.

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This paper explores the fiscal consequences of climate change. The analysis considers climate change impacts on (i) the cost of existing government services (e.g., disaster assistance) and (ii) the need for publicly provided anticipatory adaptation (e.g., sea walls). These channels are integrated into the COMET, a dynamic general equilibrium climate-economy model with distortionary taxation and government expenditures. The main result is that accounting for fiscal impacts may increase the welfare benefits of efficient climate policy by up to 30 percent. Business-as-usual climate change may necessitate increases in income tax rates and elevate the marginal cost of raising public funds.

40

Sumelius, John. "The Returns to Investment in Agricultural Research in Finland 1950—1984." Agricultural and Food Science 59, no. 4 (September 1, 1987): 251–354. http://dx.doi.org/10.23986/afsci.72267.

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This study attempts to estimate the value marginal product and the marginal internal rate of return for agricultural research in Finland. Based on production function analysis, different Cobb-Douglas and linear models are specified and estimated. A variable for the research input is measured through the flow of public expenditures for research and university-level education in 1950—1984. In addition, a stock of research capital consisting of funds accumulated since 1920 is constructed and included in the models. The estimates of elasticity with respect to public research are used to compute rates of return. State expenditures for extension agencies are also taken into account on the cost side. It is concluded that the stock of research capital estimates are more believable than the flow estimates, because of difficulties in identifying an appropriate lag. Based on the stock estimates, the value marginal product for public research during the period studied seems to have been 1.83—1.91. The conclusion implies that additional public investment in agricultural research would have annually returned by 183—191 % over the inflation rate. The marginal internal rate of return for public research is calculated to have been 20—62 % depending on the length of the lag (4—10 years).

41

Blomquist, Sören, Vidar Christiansen, and Luca Micheletto. "Public Provision of Private Goods and Nondistortionary Marginal Tax Rates." American Economic Journal: Economic Policy 2, no. 2 (May 1, 2010): 1–27. http://dx.doi.org/10.1257/pol.2.2.1.

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Using an optimal taxation model combined with a previously neglected scheme of public provision of private goods, we show that there is an efficiency gain if public provision of selected goods replaces market purchases and that efficiency requires marginal income tax rates to be higher than if the goods were purchased in the market. Part of the marginal tax serves the same role as a market price and conveys information about a real social cost of working more hours. It might be that economies with higher marginal tax rates have less severe distortions than economies with lower marginal tax rates. (JEL H21, H42, I38)

42

Filipiak, Beata Zofia, and Marek Dylewski. "A Real Or a Marginal Trend in Participatory Budgets in Local Governments." e-Finanse 14, no. 4 (December 1, 2018): 12–21. http://dx.doi.org/10.2478/fiqf-2018-0024.

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AbstractThe purpose of the article is analysis of participatory budgets as a tool for shaping decisions of local communities on the use of public funds. The authors ask the question of whether the current practice of using the participatory budget is actually a growing trend in local government finances or, after the initial euphoria resulting from participation, society ceased to notice the real possibilities of influencing the directions of public expenditures as an opportunity to legislate public policies implemented. It is expected that the conducted research will allow us to evaluate the participatory budget and indicate whether this tool practically acts as a stimulus for changes in the scope of tasks under public policies. The authors analyzed and evaluated the announced competitions for projects as part of the procedure for elaborating participatory budgeting for selected LGUs. Then, they carried out an in-depth analysis of the data used to assess real social participation in the process of establishing social policies.

43

McMahan, Ku, and Saad Usmani. "The Economic Benefits of Supporting Private Social Enterprise at the Nexus of Water and Agriculture: A Social Rate of Return Analysis of the Securing Water for Food Grand Challenge for Development." Sustainability 14, no. 10 (May 14, 2022): 5969. http://dx.doi.org/10.3390/su14105969.

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This article attempts to evaluate the comparative socioeconomic benefits of funding performance-based private sector social enterprises and posits that the social rate of return of such investments is significant and exceeds expectations for similar investment portfolios. Using the case study of the Securing Water for Food Grand Challenge for Development, we perform a social rate of return analysis on 16 water conservation technologies (WCTs) in 10 nations. Through using an extensive benefit cost ratio, we obtain the Marginal Internal Rate of Return whereby the discounted value of future benefits is equal to the reinvestment cost of capital for the SWFF portfolio. This allows the impact of SWFF to be comparable to other investments and serve as a benchmark. The resulting social rate of return metrics exceed the conservative expectations of impact investment funds as well as comparable foreign aid investments. The reasons behind this high rate of social impact are further explored and recommendations are provided accordingly for an alternative performance-based investment model of foreign aid disbursement that prioritizes scalable small and medium-sized social agribusiness enterprises in developing nations.

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N. Kallianiotis, Dr Ioannis. "THE LATEST NEW PUBLIC POLICIES AND THEIR UNFAIR SOCIAL COST." International Journal of Research in Commerce and Management Studies 04, no. 05 (2022): 96–136. http://dx.doi.org/10.38193/ijrcms.2022.4506.

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The objective of this work is to discuss and measure the social benefits and social cost of our new public policies (monetary and fiscal). By using different policy rules, we measure the appropriate federal funds rate and the bail out and bail in cost of these “progressive” policies. The benefits, lately, are insignificant and the social cost enormous and the reason is the incompetence, the corruption or the control of the policy makers, as it is going on since the British (1640) and French (1789) Revolutions. The science of Economics (Oeconomicos) is known since the Works and Days of Hesiod (8th century B.C.). The policy makers know what the true objective of their policy is, but they cannot satisfy it, which is the maximization of the social welfare, the wellbeing in every sector in the lives of the citizens of the country. There is a need to fix all these dysfunctional institutions and our democracy. What their new liberal public policies have caused to people is just uncertainty and an enormous social cost. We must go back to our traditional policies and to our 3,000 years old moral value system and the 2,000 years old revelation by preventing crises, preserving peace, respecting human lives, and satisfying the current and eternal needs of all human beings (persons).

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Setio, Ezra Sebastian. "Comparative Welfare Analysis of German Public Policies." Journal of Business and Political Economy : Biannual Review of The Indonesian Economy 3, no. 2 (February 21, 2024): 125–47. http://dx.doi.org/10.46851/82.

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This paper implements the comparative welfare analysis method Marginal Value of Public Funds (MVPF) developed by Hendren and Sprung-Keyser (2020) for historical public policies in Germany between 1990–2018 across the domains of taxation, job training, social insurance, and infrastructure. It contributes to the public finance literature by constructing among the first MVPF collections of public policies outside the United States, identifying key similarities and differences between MVPF results of the two nations, expanding the MVPF framework into the field of public infrastructure, and shedding light on the approach’s particular weaknesses. German tax reforms generated positive and significant MVPFs; retirement and unemployment insurance policies yielded relatively small MVPFs, and child treatment scored the largest MVPF among health insurance programs. Keywords: public policy, policy evaluation, welfare analysis JEL : H21, H41, H50, I38

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Paudel, Mina Raj. "An Analysis of Social Cost in School Level Education of Nepal." JMC Research Journal 7, no. 1 (December 2, 2018): 35–53. http://dx.doi.org/10.3126/jmcrj.v7i1.34358.

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Social costs in education plays decisive role for education development and economic growth of a nation. In this context, this article tries to analyze the size, trend and growth rate of social cost in the education sector of Nepal by disaggregating it into total social cost, recurrent social cost, capital social cost, unit cost and marginal cost in community based school education of Nepal. The study is based on the secondary data obtained from official documents of Nepal’s Government such as flash report, budget speech, red book and so on. The time series data from 2011 AD to 2015 AD were collected for the analysis by using convenience non-random sampling method. The overall finding of the study shows that the share of the annual average social cost in education is 15.84 percent of the total cost of the government of Nepal. In other words, the government has allocated annual average Rs 68930697.6 thousands as social cost in educational sector during the study years. The average annual growth rate of this cost is 5.15 percent. The study also indicates that annual average total social cost is Rs 68930697.6 thousands, recurrent social cost is Rs 5,71,63,418.79 thousands and capital social cost is Rs 1,17,67,278.81 thousands in Nepal. Similarly, annual average total social cost is estimated to be Rs 3,33,35,928.80 thousands. The total social unit cost per teacher and total social unit cost per student are Rs 196.39 thousands and 5.51 thousands respectively. The annual average marginal social cost per teacher and marginal social cost per student are Rs 1308.08 thousands and -202.96 thousands respectively. The negative sign indicates that student enrolment has decreased over the study period. The findings of the study conclude that there is no any predictable relationship among student enrolment, teaching and non-teaching staffs and social cost of education in case of Nepal. However, UNESCO (1999) had analyzed public investment on education of 16 countries and it found that their average investment on education was 19.2 percent of GDP. Therefore, Nepal government should increase in educational investment from its current status of 15.80 percent to at least more than it in the coming years to develop educational sector of Nepal.

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Bos, Frits, Thomas van der Pol, and Gerbert Romijn. "Should Benefit-Cost Analysis Include a Correction for the Marginal Excess Burden of Taxation?" Journal of Benefit-Cost Analysis 10, no. 3 (2019): 379–403. http://dx.doi.org/10.1017/bca.2019.11.

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AbstractThis paper provides an overview of theoretical, empirical, and practical arguments in favor of or against a correction for the marginal excess burden of taxation (MEB). Benefit-cost analysis (BCA) should be used to compare the costs and benefits of a policy measure and its major alternatives, and whenever relevant, also to compare different ways of financing this. The best pragmatic approach is then to assume first that a policy measure is financed out of general tax revenues and then that the MEB of these taxes is broadly counterbalanced by the benefits of redistribution of these taxes. The latter assumption is consistent with the preferences for equality in a country’s current tax system. It is a simple and politically neutral assumption, and it implies that the marginal cost of public funds is equal to 1 and that no correction is needed in BCAs for the MEB. This shortcut assumption does not imply that the tax system is optimal or that BCAs should be distributionally weighted. Choosing an alternative source of financing, i.e., other than general tax revenues, should be regarded as a separate policy measure that should be analyzed separately in a BCA, including its distortionary and distributive effects.

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Kossova, T. V., and M. Sheluntcova. "Estimating social discount rate for government investment projects in Russia." Voprosy Ekonomiki, no. 5 (May 9, 2024): 21–37. http://dx.doi.org/10.32609/0042-8736-2024-5-21-37.

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The article explores methods of estimating discount rate for investment projects financed with budgetary funds and aimed at creating social benefits. Social benefits often do not have a direct monetary value, so the methods for determining the discount rate for such projects differ from market ones. Spending budget funds on investment projects means that society gives up consumption at the current moment in time for the sake of future return on investment. The discount rate should reflect public preferences regarding the distribution of consumption between the current and future periods. The method for estimating these preferences is called the social rate of time preferences. Another approach to determine the discount rate allows one to consider the alternative possibility of implementing a project in the private sector (social opportunity cost of capital). The article describes the development of methods for evaluating the social discount rate and discusses the possibilities of their application for Russia. The value of the social rate of time preferences, equal to 2.5%, and the value of the social opportunity cost of capital, equal to 4.4—5%, are substantiated for short-and medium-term public investment projects in Russia. Rates are given in real terms.

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Mohd Razali, Mohd Waliuddin, Tracia S. Sim, Damien Lee Iung Yau Lung Yau, Fatin Nur Hidayah Taib Khan, and Shazali Shaharuddin. "CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE AND COST OF EQUITY EVIDENCE FROM PUBLIC LISTED COMPANIES IN MALAYSIA." UNIMAS Review of Accounting and Finance 7, no. 1 (December 26, 2023): 110–26. http://dx.doi.org/10.33736/uraf.6387.2023.

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Corporate social responsibility (CSR) has been rolled out in recent years as it has become vital owing to the massive growth of financial institutions, mutual funds, online resources, and other publications. CSR disclosure could reduce the cost of equity. The study's main objective is to investigate the CSR disclosure by companies listed in Malaysia towards the cost of equity. This study is based on three hundred four (304) samples of Malaysian listed companies from 2013 to 2014. The data of the samples were mainly collected from annual reports, except for financial data which were collected from DataStream. The result revealed that the CSR disclosure in the annual report could reduce the company's cost of equity by reducing information asymmetry, reducing agency costs, and reducing companies' risk. The result also shows that liquidity has a significant negative relationship with the cost of equity. The higher information disclosure enhances stock market liquidity, thus, reducing the cost of equity through the reduction of risk as well increasing demand for a company's securities. The size, liquidity, and growth have a significant relationship with the cost of equity.

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Ludwig, Jens, Sendhil Mullainathan, and Ashesh Rambachan. "The Unreasonable Effectiveness of Algorithms." AEA Papers and Proceedings 114 (May 1, 2024): 623–27. http://dx.doi.org/10.1257/pandp.20241072.

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We calculate the social return on algorithmic interventions (specifically, their marginal value of public funds (MVPF)) across multiple domains of interest to economists—regulation, criminal justice, medicine, and education. Though these algorithms are different, the results are similar and striking. Each one has an MVPF of infinity: not only does it produce large benefits, it provides a “free lunch.” We do not take these numbers to mean these interventions ought to be necessarily scaled but rather that much more research and development should be devoted to developing and carefully evaluating algorithmic solutions to policy problems.