Relative consumption, relative wealth and growth |
| |
| Authors: | Frederic Tournemaine Christopher Tsoukis |
| |
| Affiliation: | aSchool of Economics, University of Chicago-UTCC Research Center, University of the Thai Chamber of Commerce, 126/1 Vibhavadee-Rangsit Road, Dindaeng, Bangkok, 10400, Thailand;bDepartment of Economics, London Metropolitan University, 84 Moorgate, London EC2M 6SQ, UK |
| |
| Abstract: | In a growth model where individuals care about their social status measured both by consumption and wealth comparisons, we show that status comparison in wealth heightens economic growth, while status comparison in consumption may affect negatively economic growth. |
| |
| Keywords: | Social aspirations Relative consumption Relative wealth Growth |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
