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Keeping up with the Joneses and the welfare effects of monetary policy

✍ Scribed by Juha Tervala


Book ID
113734207
Publisher
Elsevier Science
Year
2012
Tongue
English
Weight
256 KB
Volume
33
Category
Article
ISSN
0167-4870

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## ABSTRACT A recent class of models on β€˜keeping up with the Joneses’ suggests that comparison with the consumption of other individuals affects individual utility. This paper nests three variants of the β€˜Joneses’ effect into an otherwise standard growth model. Under some conditions, growth and dis