Relative consumption, relative wealth and growth

Frederic Tournemaine and Christopher Tsoukis

Economics Letters, 2008, vol. 100, issue 2, 314-316

Abstract: In a growth model where individuals care about their social status measured both by consumption and wealth comparisons, we show that status comparison in wealth heightens economic growth, while status comparison in consumption may affect negatively economic growth.

Date: 2008
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