Expenditures, Public

Speech of Governor A.P. Willard, at New Albany, June 16, 1860, on state affairs. Caption title. Two columns to the page.

This study deals with development, estimation, and application
of a constrained welfare maximization model to the
counties of the state of Florida. This model was suggested
by James M. Henderson and is developed from microeconomic
concepts. A survey of the literature concerning public
expenditure begins the study. This is proceeded by the
derivation of the regression equations which are derived
from the concept of constrained welfare maximization.
Estimation of the model involves aggregation into metropolitan
counties and non-metropolitan counties of Florida
county data and the subsequent categorization of counties.
Empirical estimation of the desired coefficient enables the
exumination of the involved elasticities and the endogenous
variable response to changes in the exogenous variables.