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  • Status and Saving - Economics, Theory, and Evidence
    Richard Tooth
    Few would dispute that people strive to improve or maintain their status in society and will spend money to do so. But to what extent does this concern for relative position mean people actually forgo saving for the future? If people are worried about ’keeping up with the Joneses’ today, why would they not save to ’keep up’ in the future.This text looks at theory and evidence o...
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