The spirit of capitalism, social status, money, and accumulation.

DOI10.1007/BF01237193MaRDI QIDQ1601976zbMATH OpenOpenAlexFDO

Authors H.-f. Zou

Publication date 6 October 2002

Published in Journal of Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/bf01237193

zbMATH Keywords

growthmoneysocial statusspirit of capitalismTobin portfolio-shift

Mathematics Subject Classification ID

Economic growth models (91B62)

Review text

This paper regards the unambiguous existence of the Tobin portfolio-shift effect in the wealth-is-state and the spirit-of-capitalism model of growth. So, higher inflation leads to higher capital stock, and inflation increases the endogenous growth rate of the economy.

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Cites work

• Capital Accumulation on the Transition Path in a Monetary Optimizing Model
• Money and Growth: The Case of Long Run Perfect Foresight
• On Models of Money and Perfect Foresight
• Optimal Economic Growth and Wealth Effects
• Status, the Distribution of Wealth, Private and Social Attitudes to Risk

Cited in

(3)

• Growth, stagnation and status preference
• Can growth-enhanced monetary policy improve welfare when people seek social status?
• Inflation, human capital and Tobin's q

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