This paper analyzes the impact of status seeking behavior on the growth of income. Conventional wisdom suggests that such behavior should stimulate the growth rate. We introduce a general status indicator as an average of relative income and another that reflects relative expenditure on a status good in a simple dynamic model. We show that the conventional approach, which includes only concern for relative income, matters for growth. Otherwise, higher relative expenditure on a status good does not have any additional impact on optimal growth beyond the golden rule. Thus, the accepted wisdom that relative status concern always stimulates incentive for growth is called into question and provides fresh policy perspective.

中文翻译：

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寻求地位行为对成长的影响：反例

本文分析了地位寻求行为对收入增长的影响。传统观点认为，这种行为应该会刺激增长率。我们引入了一个一般地位指标作为相对收入的平均值，另一个在简单的动态模型中反映了地位商品的相对支出。我们表明，仅关注相对收入的传统方法对增长很重要。否则，在地位商品上较高的相对支出不会对超出黄金法则的最佳增长产生任何额外影响。因此，相对地位关注总是会刺激增长的公认观点受到质疑，并提供了新的政策视角。