Falling Behind the Joneses: Relative Consumption and the Growth-Savings Paradox
نویسنده
چکیده
Concern for individual consumption relative to per capita consumption can induce a fear of falling behind which increases precautionary savings. This fear intensifies as societal income growth increases, allowing for a positive effect of growth on savings rates. JEL classifications: E21, D11, D91.
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تاریخ انتشار 1996