| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5092557 | Journal of Comparative Economics | 2011 | 14 Pages |
Abstract
⺠Income inequality reduces household consumption after we control for household income. ⺠The social-status seeking motive explains the inequality-consumption link best. ⺠Rising income inequality can strengthen the incentives of status-seeking savings. ⺠Income inequality has a greater effect on consumption and savings for poorer and younger people. ⺠Rising inequality stimulates education investment and reduces conspicuous consumption.
Related Topics
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Economics and Econometrics
Authors
Ye Jin, Hongbin Li, Binzhen Wu,