The spirit of capitalism and stock market prices

The spirit of capitalism, social status, money, and accumulation | SpringerLink

This service is more advanced with JavaScript available, learn more at http: This paper demonstrates the unambiguous existence of the Tobin portfolio-shift effect in the wealth-is-status and the spirit-of-capitalism models of growth. Namely, higher inflation leads to higher capital stock in the long run, and inflation increases the endogenous-growth rate of the economy.

EconPapers: The Spirit of Capitalism and Stock-Market Prices

Part of Springer Nature. Not logged in Not affiliated The spirit of capitalism, social status, money, and accumulation. Cite this article as: University of Chicago Press.

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