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• W1488801918 abstract "This paper studies capital accumulation and equilibrium interest rates in stochastic production economies with the concern of social status. Given a specific utility function and production function, explicit solutions for capital accumulation and equilibrium interest rates have been derived. With the aid of steady-state distributions for capital stock, the effects of fiscal policies, social-status concern, and stochastic shocks on capital accumulation and equilibrium interest rates have been investigated. A significant finding of this paper is the demonstration of multiple stationary distributions for capital stocks and interest rates with the concern of social status." @default.
• W1488801918 created "2016-06-24" @default.
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• W1488801918 date "2009-01-01" @default.
• W1488801918 modified "2023-09-27" @default.
• W1488801918 title "Social Status, the Spirit of Capitalism, and the Term Structure of Interest Rates in Stochastic Production Economies" @default.
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• W1488801918 hasPublicationYear "2009" @default.
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