Journal ArticleDOI
Social status, inflation, and endogenous growth in a cash-in-advance economy
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TLDR
In this paper, the effects of wealth-enhanced social status on capital accumulation in an optimizing monetary growth model with liquidity constrained consumption were examined and it was shown that inflation positively affects the steady-state level of the capital stock.About:
This article is published in European Journal of Political Economy.The article was published on 2000-09-01. It has received 35 citations till now. The article focuses on the topics: Endogenous growth theory & Capital deepening.read more
Citations
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The Cross-section of Managerial Ability and Risk Preferences
TL;DR: In this paper, the authors use structural portfolio management models to study the joint cross-sectional distribution of managerial ability and risk preferences using manager-level data and find that risk aversion and managerial ability are highly positively correlated.
Journal ArticleDOI
Social Status and the Growth Effect of Money
Hung-Ju Chen,Jang-Ting Guo +1 more
TL;DR: In this paper, the authors show that when gross investment must be financed by real money balances as well, this result is overturned, i.e. higher inflation is detrimental to economic growth, because of a dominating portfolio substitution effect.
Journal ArticleDOI
Trade, population growth, and the environment in developing countries
TL;DR: In this paper, the authors examine pollution in a developing country where fertility is endogenous and wealth increases welfare through status, and show that pollution increases at earlier stages but decreases at later stages of development.
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Population growth overshooting and trade in developing countries
Ulla Lehmijoki,Tapio Palokangas +1 more
TL;DR: In this paper, the authors examined a developing economy using a family-optimization model in which the number of children is a normal good and trade liberalization generates two effects: the income effect that increases population growth and the gender wage effect that, in the short run, increases, but in the long run, decreases population growth.
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Money, Social Status, and Capital Accumulation in a Cash-in-Advance Model: A Comment
Wen-Ya Chang,Hsueh-fang Tsai +1 more
TL;DR: In this paper, the authors reexamine the effect of monetary growth on the capital stock in the presence of a wealth-induced social status and find that inflation negatively affects the long-run capital stock if all investment and consumption goods are liquidity constrained.
References
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The mechanics of economic development
Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
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Increasing Returns and Long-Run Growth
TL;DR: In this paper, the authors present a fully specified model of long-run growth in which knowledge is assumed to be an input in production that has increasing marginal productivity, which is essentially a competitive equilibrium model with endogenous technological change.
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On the mechanics of economic development
TL;DR: In this article, the authors consider the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development, and compare three models and compared to evidence.
Posted Content
Government spending in a simple model of endogenous growth
TL;DR: This article extended these models to include tax- financed government services that affect production or utility, and showed that growth and saving rates fall with an increase in utility-type expenditures; the two rates rise initially with productive government expenditures but subsequently decline.
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Government Spending in a Simple Model of Endogenous Growth
TL;DR: In this article, tax-financed government services that affect production or utility are extended to include tax-supported government services, and the two rates rise initially with productive government expenditures but subsequently decline with an increase in utility-type expenditures.