This paper shows that the interaction between consumption and production externalities generates the emergence of poverty traps in a simple model where individuals care of their relative consumption since holding a relatively advantageous position is instrumental to obtain productive benefits.
Relative consumption and poverty traps
LOMBARDO, VINCENZO
2012-01-01
Abstract
This paper shows that the interaction between consumption and production externalities generates the emergence of poverty traps in a simple model where individuals care of their relative consumption since holding a relatively advantageous position is instrumental to obtain productive benefits.File in questo prodotto:
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