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The Welfare Costs of Price Controls for Cars and Color Televisions in Poland: Contrasting Estimates of Rent-Seeking from Recent Experience

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  • Tarr, David G

Abstract

The welfare costs of price controls can vary enormously, depending on the method of allocating the good in shortage and the possible rent-seeking costs that may result. With full rent dissipation, the welfare loss from price controls on Polish color televisions in 1989 was about ten times the standard estimates of distortion costs, which ignore rent-seeking, and was more than 100 percent of the value of domestic producers' sales. The methods of allocating cares, however, did not result in rent-seeking costs. The domestic price controls were an unintended implicit subsidy to imports. Subsidies for cars were estimated at 43 percent and for color televisions at 22 percent. Copyright 1994 by Oxford University Press.

Suggested Citation

  • Tarr, David G, 1994. "The Welfare Costs of Price Controls for Cars and Color Televisions in Poland: Contrasting Estimates of Rent-Seeking from Recent Experience," The World Bank Economic Review, World Bank, vol. 8(3), pages 415-443, September.
    • Handle: RePEc:oup:wbecrv:v:8:y:1994:i:3:p:415-43
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    Cited by:

    1. Guenette,Justin Damien, 2020. "Price Controls : Good Intentions, Bad Outcomes," Policy Research Working Paper Series 9212, The World Bank.
    2. Howard J. Shatz & David G. Tarr, 2017. "Exchange Rate Overvaluation and Trade Protection: Lessons from Experience," World Scientific Book Chapters, in: Trade Policies for Development and Transition, chapter 5, pages 115-127, World Scientific Publishing Co. Pte. Ltd..

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    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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