Money, Social Status, and Capital Accumulation in a Cash-in-Advance Model
This paper presents an infinite-horizon model of optimal capital accumulation with the social-status concern and the cash-in-advance constraint. When the cash-in-advance constraint applies to both consumption and investment, money is not superneutral. If only consumption is subject to the cash-in-advance constraint, inflation increases capital accumulation.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 33 (2001)
Issue (Month): 2 (May)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879 |
References listed on IDEAS
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.:
- Bakshi, Gurdip S & Chen, Zhiwu, 1996.
"The Spirit of Capitalism and Stock-Market Prices,"
American Economic Review,
American Economic Association, vol. 86(1), pages 133-57, March.
- Fershtman, Chaim & Murphy, Kevin M & Weiss, Yoram, 1996.
"Social Status, Education, and Growth,"
Journal of Political Economy,
University of Chicago Press, vol. 104(1), pages 108-32, February.
- Heng-fu Zou, 1991.
"The spirit of capitalism and long-run growth,"
Policy Research Working Paper Series
630, The World Bank.
- Heng-fu Zou, 1995.
"The spirit of capitalism and savings behavior,"
Journal of Economic Behavior & Organization,
Elsevier, vol. 28(1), pages 131-143, September.
- Cole, Harold L & Mailath, George J & Postlewaite, Andrew, 1992. "Social Norms, Savings Behavior, and Growth," Journal of Political Economy, University of Chicago Press, vol. 100(6), pages 1092-1125, December.
- Stockman, Alan C., 1981. "Anticipated inflation and the capital stock in a cash in-advance economy," Journal of Monetary Economics, Elsevier, vol. 8(3), pages 387-393.
When requesting a correction, please mention this item's handle: RePEc:mcb:jmoncb:v:33:y:2001:i:2:p:284-93. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.