کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
9724188 | 1476930 | 2005 | 21 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Economic growth and status-seeking through personal wealth
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
I investigate the wealth distribution and endogenous fiscal policy in a two-class growth model in which individuals exhibit a desire for social status. The latter is increasing with individual wealth and decreasing with the average wealth of the society. First, I show that status-seeking is crucial in determining the long-run wealth distribution: agents with stronger status motive end up holding a higher level of wealth. Second, higher wealth inequality can be associated with a higher growth if the inequality is due to a stronger incentive of one class of agents to accumulate wealth. Third, the model implies that a higher growth rate may reduce welfare of one class of agents and increase welfare of the other one. Finally, when fiscal policy is determined through a voting mechanism, an increase in the strength of the status motive of the majoritarian class can reduce political-equilibrium growth.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Journal of Political Economy - Volume 21, Issue 2, June 2005, Pages 407-427
Journal: European Journal of Political Economy - Volume 21, Issue 2, June 2005, Pages 407-427
نویسندگان
Thi Kim Cuong Pham,