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Public Finance and Public Policy
Sixth Edition| ©2019 Jonathan Gruber
We are currently engaged in the most fundamental debate about the role of government in decades, and who better than Jonathan Gruber to guide students through the particulars in the new edition of his best-selling text, Public Finance and Public Policy, 6e.
The new edition detail...
We are currently engaged in the most fundamental debate about the role of government in decades, and who better than Jonathan Gruber to guide students through the particulars in the new edition of his best-selling text, Public Finance and Public Policy, 6e.
The new edition details ongoing policy debates, with special focus on the largest tax reform in 30 years. New topics include universal basic income, the legalization of pot, and congestion pricing. And, of course, there is an extensive, in-depth discussion of the debate over health care.
At the heart of this new edition is the author’s belief that at no other time has it been so important to know the facts, to distinguish facts from falsehoods, and to be thinking clearly about problem, policy, and politics. The sixth edition delivers on all counts.
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Rigorous theory, cutting-edge empirical evidence, and abundant policy-oriented applications
We are currently engaged in the most fundamental debate about the role of government in decades, and who better than Jonathan Gruber to guide students through the particulars in the new edition of his best-selling text, Public Finance and Public Policy, 6e.
The new edition details ongoing policy debates, with special focus on the largest tax reform in 30 years. New topics include universal basic income, the legalization of pot, and congestion pricing. And, of course, there is an extensive, in-depth discussion of the debate over health care.
At the heart of this new edition is the author’s belief that at no other time has it been so important to know the facts, to distinguish facts from falsehoods, and to be thinking clearly about problem, policy, and politics. The sixth edition delivers on all counts.
Features
Questions to Keep in Mind
Questions at the start of each chapter, alert students to the chapter’s “big ideas,” thus helping them organize the many ideas presented in the chapter.
Integrated Applications
The Applications in this text allow students to step back from the main text and appreciate the policy relevance of the material. These applications are integrated directly with the text, rather than set aside, so that students understand the importance of applying the material they are learning.
Empirical Evidence Boxes
For instructors who wish to explore in more depth the nature of the empirical findings mentioned in the text, Empirical Evidence boxes are set aside from the main text to explain carefully the research process that generates the major empirical findings in public finance.
Integration of Relevant Statistics
Throughout the text, and in a number of graphs and tables, this text presents the statistics about the role of the government that emphasize the importance of this course. It is much easier to explain to students why they should care about social insurance, for example, when they clearly see graphics that illustrate the rise in that activity as a share of the U.S. government.
Quick Hints
Throughout the text are a variety of highlighted Quick Hints to emphasize the intuition of key theoretical points that students often find difficult: How does one decide where to draw deadweight loss triangles? Why is the subsidy to employer-provided health insurance a subsidy to employees and not to employers? How can the income effect of higher wages cause lower levels of labor supply?
Mathematical Appendices
The text explains the material primarily through intuition and graphics, with relatively little reliance on mathematics.
Nevertheless, many instructors want to use mathematics to make key points about tax incidence, public goods provision, adverse selection in insurance markets, optimal taxation, and other topics. Five appendices develop the mathematics of these topics. Two additional appendices focus on the details of empirical analysis.
Marginal Definitions
Key terms are boldfaced throughout the text, and marginal definitions allow students to focus on the key concepts.
Full-Color Graphics Full-color graphics allow students to better understand the graphical analysis that is so often confusing to them.
Highlights
At the end of each chapter is a summary of the key themes and concepts from the material in that chapter.
Questions and Problems
At the end of each chapter are an average of 15 questions and problems. Questions on empirical analysis that draw on material in Chapter 3 are denoted separately with an e, and there is a careful delineation between basic and more advanced problems.
New to This Edition
The dynamic public policy environment of the past few years required a thorough updating of most aspects of the book. All statistics, data-related tables and figures, and applications have been updated completely to reflect the most recent available data.In addition, a number of major changes were made throughout the book, including new examples, updating of existing chapter introductions, revisions to the Application and Empirical Evidence boxed features, and a number of new and thoroughly updated text discussions.
EXTENSIVE REVISIONS REFLECTING CURRENT PUBLIC POLICY DEBATES
Any public finance textbook must pay a great deal of attention to issues of externalities and public goods, taxation, and direct government spending, and this book is no exception. Given their importance to the current political discourse, these chapters have undergone the heaviest revisions in this edition:
Chapter 1, “Why Study Public Finance,” Chapter 6, “Externalities in Action: Environmental and Health Externalities,” Chapter 9, “The Political Economy,” Chapter 16, “Health Insurance II: Medicare, Medicaid, and Health Care Reform,” Chapter 17, “Income Distribution and Welfare Programs,” Chapter 18, “Taxation: How it Works and What it Means,” and Chapter 24, “Taxation of Business Income.”
Revisions in the most heavily revised chapters include:
opener has been revised to address Trump administration positions on environmental policy (C02 emissions in particular) with regard to the EPA and, in particular, the Obama-era Clean Power Plan (CPP). Other changes to Chapter 6 include a new running example on particulate emissions (which replaces the example on acid rain), and a new section: "The Paris Agreement and the Future" which covers the details and impact of that global agreement.
explanations for this divergence across parties. The chapter now includes the key term: gerrymandering,
and a discussion of its implications, and new coverage on the Trump administration’s interest in ending the
earmarks ban.
added in Chapter 15. In Chapter 16, coverage of the ACA has been updated throughout, and the section on
";Early Evidence on the Effects of the ACA" has been thoroughly revamped and updated. And there is a new section: "The ACA Runs into Trouble."
Income.

Public Finance and Public Policy
Sixth Edition| ©2019
Jonathan Gruber
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Public Finance and Public Policy
Sixth Edition| 2019
Jonathan Gruber
Table of Contents
PART I Introduction and Background1 Why Study Public Finance?
2 Theoretical Tools of Public Finance
3 Empirical Tools of Public Finance
4 Budget Analysis and Deficit Financing
PART II Externalities and Public Goods
5 Externalities: Problems and Solutions
6 Externalities in Action: Environmental and Health Externalities
7 Public Goods
8 Cost-Benefit Analysis
9 Political Economy
10 State and Local Government Expenditures
11 Education
PART III Social Insurance and Redistribution
12 Social Insurance: The New Function of Government
13 Social Security
14 Unemployment Insurance, Disability Insurance, and Workers’ Compensation
15 Health Insurance I: Health Economics and Private Health Insurance
16 Health Insurance II: Medicare, Medicaid, and Health Care Reform
17 Income Distribution and Welfare Programs
PART IV Taxation in Theory and Practice
18 Taxation: How It Works and What It Means
19 The Equity Implications of Taxation: Tax Incidence
20 Tax Inefficiencies and Their Implications for Optimal Taxation
21 Taxes on Labor Supply
22 Taxes on Savings
23 Taxes on Risk Taking and Wealth
24 Taxation of Business Income
25 Fundamental Tax Reform and Consumption Taxation
Glossary G-1
References R-1
Index I-1
Authors

Jonathan Gruber
Dr. Jonathan Gruber is a Professor of Economics at the Massachusetts Institute of Technology, where he has taught since 1992. He is also the Director of the Health Care Program at the National Bureau of Economics Research, where he is a research Associate. He is a co-editor of the Journal of Public Economics and an Associate Editor of the Journal of Health Economics. Dr. Gruber received his B.S. in Economics from MIT and his PH.D. in Economics from Harvard. He has received and Alfred P. Sloan Foundation Research Fellowship, a FIRST award from the National Institute on Aging, and the Kenneth Arrow Award for the Best Paper in Health Economics in 1994. He was also one of the 15 scientists nationwide to receive the Presidential Faculty Fellow Award from the National Science Foundation in 1995. Dr. Gruber was elected to the Institute of Medicine in 2005, and in 2006, he received the American Society of Health Economists’ Inaugural Medial for the best health economist in the nation ages 40 and under. Dr. Gruber’s research focuses on the areas of public finance and health economics. He has published more than 125 research articles and has edited 6 research volumes.
During the 1997-1998 academic year, Dr. Gruber was on leave from MIT, serving as Deputy Assistant Secretary for Economic Policy at the U.S. Treasury Department. He was a key architect of Massachusetts’ ambitious health reform effort, and in 2006, he became an inaugural member of the Health Connector Board, the main implementing body for the effort. In that year, he was named the nineteenth-most powerful person in health care in the United States by Modern Healthcare Magazine. He acted as a consultant on several presidential campaigns and is considered by the Washington Post to be one of the “most influential” health care experts in America.
During the 1997-1998 academic year, Dr. Gruber was on leave from MIT, serving as Deputy Assistant Secretary for Economic Policy at the U.S. Treasury Department. He was a key architect of Massachusetts’ ambitious health reform effort, and in 2006, he became an inaugural member of the Health Connector Board, the main implementing body for the effort. In that year, he was named the nineteenth-most powerful person in health care in the United States by Modern Healthcare Magazine. He acted as a consultant on several presidential campaigns and is considered by the Washington Post to be one of the “most influential” health care experts in America.
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Public Finance and Public Policy
Sixth Edition| 2019
Jonathan Gruber
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