the welfare loss of capital income taxation relative to the alternatives of taxing consumption and labor income.The second … technology of private investment. Government policies that discourage saving might make the Schumpeterian vision of a shift from … sharp decline in the net national saving rate-from over 8% of GDP in the U.S. in the 1970s to only 4.5% in the 1980s & from …

consumption or investment. In this way, aggregate demand would be maintained by substituting public consumption for private … consumption. A second alternative prescription was to reduce the private saving rate. Early Keynesians like Seymour Harris saw the …Three ways of averting "excess saving" have been emphasized in both theory and practice. The thrust of the Keynesian …

post-OPEC period 1974-79 imply that each extra dollar of domestic saving increases domestic investment by approximately 85 … investment in response to a sustained increase in domestic saving is likely to be substantially greater than the ultimate steady … increases in domestic savings rates induce approximately equal increases in domestic rates of investment. New estimates for the …

international capital flows or, equivalently, between domestic saving rates and domestic investment. The basic conclusion of the … present analysis is that an increase in domestic saving has a substantial effect on the level of domestic investment although …>There is no support for the view that the estimated saving-investment relation reflects a spurious impact of an omitted …

difference between real and nominal magnitudes. These high effective tax rates discourage personal saving. The paper discusses a … number of ways in which the tax law could be modified to encourage more saving and less borrowing. Existing tax rules bias … cashflow corporate tax (with complete expensing of investment and no deduction for interest payments) as a way of remedying …

the origin of the aggregate volatility reduction. We show that states with relatively high concentrations in the durable-goods …

state rates of money growth. This includes a summary of research that I have presented elsewhere and comments on several …

Although there have been several studies of the effect of social security on private saving, there has been no attempt …