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Oltre la teoria pura della spesa pubblica: modelli teorici di second best

Author

Listed:
  • Alessandro Balestrino

    (University of Pisa)

  • Alessandro Petretto

    (University of Florence)

Abstract

The theoretical analysis of public expenditure is usually carried out within a First-Best (FB) frame work, where the social planner is assumed to be perfectly informed. As a consequence, economic policy implications are not very relevant in practice, because the real world (which is typically an imperfect information world) can only attain constrained, i.e. Second Best (SB), optima. The present paper aims to provide a comprehensive and homogeneous reconstruction of the literature on Second-Best public expenditure. We try to draw a unitary picture of the contributions in this area, and to emphasize their theoretical consistency as well as their capability to interpret the more recent institutional changes within western democracies.

Suggested Citation

  • Alessandro Balestrino & Alessandro Petretto, 1998. "Oltre la teoria pura della spesa pubblica: modelli teorici di second best," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 57(1), pages 65-108, April.
    • Handle: RePEc:gde:journl:gde_v57_n1_p65-108
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    More about this item

    Keywords

    public expenditure; Second Best; in-kind transfers; redistribution; decentralisation; Pigou's conjecture; cost-benefit analysis;
    All these keywords.

    JEL classification:

    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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