Jellal, Mohamed (2012): Beliefs incentives and economic growth.
Download (485kB) | Preview
We integrate a general social norm function which associates status to accumulation of capital and consumption into a simple model of endogenous growth. We show that societies which place a greater weight on capital as opposed to consumption will experience fast growth.Our results are consistent with those obtained by Baumol(1990) in the context of entrepreneurship and by Fershtman and Weiss (1991
|Item Type:||MPRA Paper|
|Original Title:||Beliefs incentives and economic growth|
|Keywords:||Beliefs , social incentives, social status, growth|
|Subjects:||Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology
D - Microeconomics > D9 - Intertemporal Choice
O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O43 - Institutions and Growth
Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology > Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification
|Depositing User:||Mohamed Jellal|
|Date Deposited:||31. May 2012 22:56|
|Last Modified:||01. Jul 2015 04:46|
Baumol,W. 1990, Entrepreneurship: Productive, Unproductive, and Destructive,Journal of Political Economy 98:893-921
Cole, H.L.,Mailath,G.L, and A.Postlewaite,1992, Scial Norms, Saving Behavior and Growth, Journal of Political Economy 100: 1092-1125
Corneo, C. and O. Jeanne, 1997, On Relative Wealth Effect and the Optimality of Growth, Economics Letters 54 (1), pp. 87-92.
Fershtman,C., and Y.Weiss, 1991, Social Status and Economic Performance , mimeo
Fisher, W.H. and F.X. Hof, 2000, Relative Consumption, Economic Growth, and Taxation, mimeo
Frank, R.H., 1985, The Demand for Unobservable and Other Nonpositional Goods, The American Economic Review, March, 101-116
Futagami, Koichi, and Akihisa Shibata, 1998, Keeping one step ahead of the Joneses: status, the distribution of wealth, and long run growth, Journal of Economic Behavior and Organization (36) 1, pp. 93-111.
Gali, J., 1994, Keeping Up with the Joneses: Consumption Externalities,Portfolio Choice, and Asset Prices, Journal of Money, Credit, and Banking, vol. 26, no. 1, February, 1-8.
Harbaugh, R., 1996, Falling behind the Joneses: relative consumption and the growth-savings paradox, Economics Letters 53, 297-304.
Hof, F.X., 1999a, Consumption Externalities, Economic Growth, and Optimal Taxation: A General Approach, working paper 99/01, Institute of Economics, University of Technology, Vienna.
Hof, F.X., 1999b, Relative Consumption and Endogenous Labor Supply in the Ramsey Model: Do Status Conscious People Work Too Much?, working paper 99/02, Institute of Economics, University of Technology, Vienna.
Jellal,M et T.Rajhi (2003) Statut social et croissance Revue d’économie Politique , 2003
Rauscher, M., 1997a, Protestant Ethic, Status Seeking, and Economic Growth, Discussion paper, University of Rostock, Germany.