@article{Dunkelberg:283613,
      recid = {283613},
      author = {Dunkelberg, William C.},
      title = {THE ECONOMIC AND DISTRIBUTIVE EFFECTS OF CREDIT  REGULATION},
      address = {1977-07},
      number = {2177-2019-344},
      pages = {51},
      year = {1977},
      abstract = {This paper deals with three basic types of consumer credit  legislation and the likely effects that regulations  implementating this legislation may have had. Before  proceeding further, it is important to say something about  the criteria to be used in evaluating what can be generally  characterized as social legislation--legislation designed  with some social objective in mind. The standard tool of  the economist for evaluation of economic performance is the  normative competitive model. Many question the  applicability of this model in the role of evaluation since  the legislation being examined more often than not will  have come about because of a dissatisfaction with what is  perceived to be a market result. More fundamentally, the  market results that the legislation seeks to change are  those that result from the distribution of income or wealth  (broadly conceived) that is viewed as being less than  satisfactory. By altering prices (broadly conceived), the  legislation seeks to alter :his distribution. Thus, it is  argued, the effects of the legislation can only be  interpreted as "bad" since the benchmark for evaluation  assumes, implicitly or explicitly, the original  distribution of income (and the resulting set of market  prices).},
      url = {http://ageconsearch.umn.edu/record/283613},
      doi = {https://doi.org/10.22004/ag.econ.283613},
}