Relative consumption, relative wealth and growth
AbstractIn 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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 100 (2008)
Issue (Month): 2 (August)
Contact details of provider:
Web page: http://www.elsevier.com/locate/ecolet
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- King, Robert G. & Plosser, Charles I. & Rebelo, Sergio T., 1988. "Production, growth and business cycles : I. The basic neoclassical model," Journal of Monetary Economics, Elsevier, vol. 21(2-3), pages 195-232.
- Francisco Alvarez-Cuadrado & Goncalo Monteiro & Stephen J. Turnovsky, 2004.
"Habit Formation, Catching Up with the Joneses, and Economic Growth,"
Journal of Economic Growth,
Springer, vol. 9(1), pages 47-80, 03.
- Francisco Alvarez-Cuadrado & Goncalo Monteiro & Stephen Turnovsky, 2004. "Habit Formation, Catching Up with the Joneses, and Economic Growth," Working Papers UWEC-2004-09-P, University of Washington, Department of Economics, revised Jan 2004.
- N. Gregory Mankiw & Matthew Weinzierl, 2005.
"Dynamic Scoring: A Back-of-the-Envelope Guide,"
Harvard Institute of Economic Research Working Papers
2057, Harvard - Institute of Economic Research.
- Jaime Alonso-Carrera & Jordi Caballe & Xavier Raurich, 2001.
"Consumption Externalities, Habit Formation, and Equilibrium Efficiency,"
UFAE and IAE Working Papers
499.01, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Jaime Alonso-Carrera & Jordi Caballé & Xavier Raurich, 2004. "Consumption Externalities, Habit Formation and Equilibrium Efficiency," Scandinavian Journal of Economics, Wiley Blackwell, vol. 106(2), pages 231-251, 06.
- Futagami, Koichi & Shibata, Akihisa, 1998. "Keeping one step ahead of the Joneses: Status, the distribution of wealth, and long run growth," Journal of Economic Behavior & Organization, Elsevier, vol. 36(1), pages 109-126, July.
- Romer, Paul M, 1986.
"Increasing Returns and Long-run Growth,"
Journal of Political Economy,
University of Chicago Press, vol. 94(5), pages 1002-37, October.
- Pham, Thi Kim Cuong, 2005. "Economic growth and status-seeking through personal wealth," European Journal of Political Economy, Elsevier, vol. 21(2), pages 407-427, June.
- Choudhary, M. Ali & Levine, Paul, 2006. "Idle worship," Economics Letters, Elsevier, vol. 90(1), pages 77-83, January.
- Chris Tsoukis, 2007. "Keeping Up With The Joneses, Growth, And Distribution," Scottish Journal of Political Economy, Scottish Economic Society, vol. 54(4), pages 575-600, 09.
- Michael Rauscher, 1997. "Conspicuous consumption, economic growth, and taxation," Journal of Economics, Springer, vol. 66(1), pages 35-42, February.
- Walter Fisher & Franz Hof, 2000. "Relative consumption, economic growth, and taxation," Journal of Economics, Springer, vol. 72(3), pages 241-262, October.
- Corneo, Giacomo & Jeanne, Olivier, 1997. "On relative wealth effects and the optimality of growth," Economics Letters, Elsevier, vol. 54(1), pages 87-92, January.
- Tournemaine, frederic & Tsoukis, Chris, 2008. "Status, endogenous reference standards, and the growth-inequality relation: A note," MPRA Paper 10420, University Library of Munich, Germany.
- Nguyen-Van, Phu & Pham, Thi Kim Cuong, 2013.
"Endogenous fiscal policies, environmental quality, and status-seeking behavior,"
Elsevier, vol. 88(C), pages 32-40.
- Thi Kim Cuong PHAM & Phu NGUYEN-VAN, 2009. "Endogenous Fiscal Policies, Environmental Quality, and Status-Seeking Behavior," Working Papers of BETA 2009-22, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Phu Nguyen-Van & Thi Kim Cuong Pham, 2008. "Endogenous Fiscal Policies, Environmental Quality, and Status-Seeking Behavior," Working Papers 29, Development and Policies Research Center (DEPOCEN), Vietnam.
- Frederic Tournemaine & Christopher Tsoukis, 2010.
"Status, Fertility, Growth And The Great Transition,"
The Singapore Economic Review (SER),
World Scientific Publishing Co. Pte. Ltd., vol. 55(03), pages 553-574.
- Tournemaine, Frederic & Tsoukis, Christopher, 2008. "Status, fertility, growth and the great transition," MPRA Paper 8669, University Library of Munich, Germany.
- Tsoukis, Christopher & Tournemaine, Frederic, 2010.
"Status in a canonical macro model: labour supply, growth, and inequality,"
26480, University Library of Munich, Germany.
- Christopher Tsoukis & Frédéric Tournemaine, 2013. "Status In A Canonical Macro Model: Labour Supply, Growth And Inequality," Manchester School, University of Manchester, vol. 81, pages 65-92, October.
- Jang-Ting Guo & Juin-Jen Chang, 2008. "Social Status and Optimal Income Taxation," Working Papers 200814, University of California at Riverside, Department of Economics, revised Dec 2008.
- Tsoukis, Christopher & Tournemaine, Frederic, 2010.
"Social conflict, growth and factor shares,"
23365, University Library of Munich, Germany, revised 20 Jun 2010.
- Tournemaine, Frederic & Tsoukis, Christopher, 2010.
"Gain versus pain from status and ambition: Effects on growth and inequality,"
The Journal of Socio-Economics,
Elsevier, vol. 39(2), pages 286-294, April.
- Tournemaine, Frederic & Tsoukis, Christopher, 2008. "Gain versus pain from status and ambition: Effects on growth and inequality," MPRA Paper 8670, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If references are entirely missing, you can add them using this form.