Itaya, Jun-ichi; Kanamori, Naoshige - Graduate School of Economics and Business … - 2008
model of endogenous growth in which the desire for social status induces private agents to care about others’ wealth or … consumption levels. We also allow for nonseparable preferences in own consumption, labor supply and social status that may cause … the balanced growth path is indeterminate (determinate) in the models of wealth-induced social status and consumption …