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| Author: | Corneo, G. Jeanne, O. |
| Title: | Social organization in an endogenous growth model |
| Journal: | International Economic Review
1999 : AUG, VOL. 40:3, p. 711-725 |
| Index terms: | ECONOMICS ENDOGENOUS VARIABLES GROWTH |
| Language: | eng |
| Abstract: | The authors develop an endogenous growth model in which individuals form matches in order to consume goods that are not explicitly traded. The matching process endogenously generates a concern for relative wealth and is thereby beneficial for capital accumulation and economic growth. The authors then study how social segmentation in the matching process affects economic growth. Under strong segmentation, social competition over mates occurs inside homogeneous groups. This homogeneity increases the severity of the "rat race" of wealth accumulation and fosters economic growth. |
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