Social organization in an endogenous growth model

Autor(en): Corneo, G
Jeanne, O
Stichwörter: Business & Economics; Economics; NORMS; SAVINGS BEHAVIOR
Erscheinungsdatum: 1999
Herausgeber: UNIV PENN
Journal: INTERNATIONAL ECONOMIC REVIEW
Volumen: 40
Ausgabe: 3
Startseite: 711
Seitenende: 725
Zusammenfassung: 
We develop an endogenous growth model in which individuals form matches in order to consume goods that are not explicitly traded. The matching process endogenously generates a concern for relative wealth and is thereby beneficial for capital accumulation and economic growth. We then study how social segmentation in the matching process affects economic growth. Under strong segmentation, social competition over mates occurs inside homogeneous groups. This homogeneity increases the severity of the ``rat race'' of wealth accumulation and fosters economic growth.
ISSN: 00206598
DOI: 10.1111/1468-2354.00036

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