Taxation, Saving and the Rate of Interest / Michael J. Boskin.

Format:

Book

Author/Creator:

Boskin, Michael J.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w0135.

NBER working paper series no. w0135

Language:

English

Subjects (All):

Taxation--Mathematical models.

Taxation.

Taxation--Social aspects.

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1976.

Cambridge, Mass. : National Bureau of Economic Research, 1976.

Summary:

After exploring both the crucial role of the interest elasticity of the saving rate in the analysis of a wide variety of issues in economic - particularly tax - policy and reasons why previous studies of the effect of interest rates on consumption and saving have biased the estimated elasticity toward zero, this study presents new estimates of consumption functions based on aggregate U.S. time series data. The results are striking: a variety of functional forms, estimation methods and definitions of the real after-tax rate of return invariably lead to the conclusion of a substantial interest elasticity of saving.

Notes:

Print version record

April 1976.