The Case for Using the MVPF in Empirical Welfare Analysis

Nathaniel Hendren and Ben Sprung-Keyser

No 30029, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper outlines the case for using the Marginal Value of Public Funds (MVPF) in empirical welfare analysis. It compares the MVPF approach with more traditional welfare metrics such as the Cost-Benefit Ratio and the Net Social Benefits criterion. It outlines the advantages of the MVPF approach relative to these metrics. In building the case for the MVPF, this paper also addresses several misconceptions about the MVPF that appear in recent literature.

JEL-codes: H0 (search for similar items in EconPapers)
Date: 2022-05
Note: CH ED EEE EH IO LS PE
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