Principles of Public Finance
This textbook equips instructors and students with an overview of the existing literature so that the latter can attain an overall understanding of macroeconomic and microeconomic public finance. The literature on public finance has grown dramatically wit
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Toshihiro Ihori
Principles of Public Finance
Springer Texts in Business and Economics
More information about this series at http://www.springer.com/series/10099
Toshihiro Ihori
Principles of Public Finance
Toshihiro Ihori National Gradual Institute for Policy Studies Minato-ku, Tokyo, Japan
ISSN 2192-4333 ISSN 2192-4341 (electronic) Springer Texts in Business and Economics ISBN 978-981-10-2388-0 ISBN 978-981-10-2389-7 (eBook) DOI 10.1007/978-981-10-2389-7 Library of Congress Control Number: 2016956567 # Springer Science+Business Media Singapore 2017 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper This Springer imprint is published by Springer Nature The registered company is Springer Nature Singapore Pte Ltd. The registered company address is: 152 Beach Road, #22-06/08 Gateway East, Singapore 189721, Singapore
Preface
This book is a standard, but new-style, textbook on public finance. It provides instructors and students with an overview of the literature so that students can attain an overall understanding of macroeconomic and microeconomic public finance. Conventional textbook offerings are mainly restricted to microeconomic public finance topics. However, the literature on public finance has grown dramatically, particularly theoretical studies and empirical analysis, with much of the focus on the macroeconomic effects of public services. This text intends to fill a gap in such literature by presenting a theoretically based, comprehensive explanation of public finance including macroeconomic topics. Particular emphasis is directed at developing tools that can be applied theoretically and empirically to clarify essential economic concerns in the current public sector in advanced countries, including Japan. Such concerns include the macroeconomic effect of fiscal policy, the dependence on bonds to cover government deficits, and social security reform. The main text explains the standard concepts of public finance, while the appendix o
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