Can growth-enhanced monetary policy improve welfare when people seek social status?

DOI10.1007/S00712-013-0350-8MaRDI QIDQ403785zbMATHOpenAlexFDO

Authors Hsiu-Yun Lee, Yulin Wang, Wen-Ya Chang

Publication date 29 August 2014

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

Full work available at URL https://doi.org/10.1007/s00712-013-0350-8

zbMATH Keywords

monetary policycash-in-advance constraintFriedman ruleproduction externalitieswealth-enhanced social status

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic growth models (91B62) Welfare economics (91B15)

Recommendations

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Cites work

• Inflation and welfare
• Relative wealth, consumption taxation, and economic growth
• The spirit of capitalism, social status, money, and accumulation.

Cited in

(4)

• Social status and long-run effects of monetary policy in a two-sector monetary economy of endogenous growth
• Optimal monetary and fiscal policy with social status seeking and liquidity constraints
• Can faster income growth reduce well-being?
• Social status, human capital formation and the long-run effects of money

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