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

This paper demonstrates the unambiguous existence of the Tobin portfolio-shift effect in the wealth-is-status and the spirit-of-capitalism models of growth. Namely, higher inflation leads to higher capital stock in the long run, and inflation increases the endogenous-growth rate of the economy.

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Year of publication:	1998
Authors:	Zou, Heng-fu
Institutions:	China Economics and Management Academy, Central University of Finance and Economics (CUFE)
Subject:	spirit of capitalism \| social status \| money \| growth

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Extent:	application/pdf
Series:	CEMA Working Papers.
Type of publication:	Book / Working Paper
Notes:	Published in Journal OF Economics Volume 68, Number 3, Pages 219-233 Number 99 15 pages
Classification:	E1 - General Aggregative Models ; E31 - Price Level; Inflation; Deflation ; O42 - Monetary Growth Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009195470