Change and Challenge in the World Economy by Bela Balassa (auth.)

By Bela Balassa (auth.)

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Evans, p. 611. 31. M. S. Boskin, 'Taxation Savings and the Rate of Interest', Journal of Political Economy, LXXXVI (1978), pp. S3-S28. 32. L. H. Summers, 'Capital Taxation and Accumulation in a Life Cycle Growth Model', American Economic Review, LXXI (1981) p. 536. 33. O. Evans, 'Tax Policy, the Interest Elasticity of Savings and Capital Accumulation: Numerical Analysis of Theoretical Models', American Economic Review, LXXIII (1983) Table 4. 34. L. H. Summers, 'The After Tax Rate of Return Affects Private Savings', American Economic Review, LXXIV (1984) p.

2 II POLICY-IMPOSED DISTORTIONS IN PRODUCT MARKETS In developed countries, distortions in product markets may result from government interventions in the form of price control and limitations on competition. In the case of non-traded goods, governments may set the price of the particular service and/or restrict entry by new firms; in the case of traded goods, protection is an important device limiting competition, thereby raising costs to the user and to the national economy as a whole. Among services, one may single out transportation that is subject to regulations in most developed countries.

Nobay and D. Peel (eds), Macroeconomic Analysis: Essays in Macroeconomics and Econometrics (London: Croom Helm, 1981) pp. 18-19. 27. M. Janssen, 'Social Insurance: Incentives and Disincentives to Save and to Work', paper prepared for the Conference on Economic Incentives, held at the Institute of World Economics of the University of Kiel on 18-22 June 1984, p. 24. 28. 17. Prices, Incentives and Economic Growth 23 29. O. Evans, 'Social Security and Household Saving in the United States: A Re-Examination', International Monetary Fund Staff Papers, XXX (1983) p.

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