Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/265794 
Year of Publication: 
2022
Series/Report no.: 
IZA Discussion Papers No. 15573
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
This paper examines the economic foundations of three criteria used for evaluating the costs and benefits of social programs. Some criteria do not consider the scale of programs or address the costs associated with programs that expand or contract the total government budget. A recent addition to the list of evaluation criteria—the marginal value of public funds (MVPF)—does not adopt a social optimality perspective. It evaluates the optimality of expenditures assuming a predetermined aggregate budget without considering the social costs of raising that budget.
Subjects: 
cost-benefit analysis
marginal value of public funds
JEL: 
D61
Document Type: 
Working Paper

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