000			01352nam a22001577a 4500
999			_c517528 _d517528
008			210719b ||||| |||| 00| 0 eng d
100			_aFinkelstein, Amy and Hendren, Nathaniel _926765
245			_aWelfare analysis meets causal inference
260			_aThe Journal of Economic Perspectives
300			_a34(4), Fall, 2020: p.146-167
520			_aWe describe a framework 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. – Reproduced
650			_aMarginal value of public funds (MVPF), Industrial organization _926766
773			_aThe Journal of Economic Perspectives
906			_aPUBLIC POLICY
942			_cAR