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Genuine saving and positional externalities
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
Göteborgs universitet.
2017 (English)In: International Economic Review, ISSN 0020-6598, E-ISSN 1468-2354, Vol. 58, no 4, p. 1155-1190Article in journal (Refereed) Published
Abstract [en]

Much evidence suggests that people are concerned with their relative consumption. Yet, positional externalities have so far been ignored in savings-based indicators of sustainable development. This article examines the implications of relative consumption concerns for measures of sustainable development by deriving analogues to genuine saving when people are concerned with their relative consumption. Unless the positional externalities have been internalized, an indicator of such externalities must be added to genuine saving to arrive at the proper measure of welfare change. We also show how relative consumption concerns affect the way public investment ought to be reflected in genuine saving.

Place, publisher, year, edition, pages
John Wiley & Sons, 2017. Vol. 58, no 4, p. 1155-1190
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:umu:diva-124567DOI: 10.1111/iere.12248ISI: 000416331700004OAI: oai:DiVA.org:umu-124567DiVA, id: diva2:953010
Funder
Swedish Research Council, 421-2010-1420
Available from: 2016-08-16 Created: 2016-08-16 Last updated: 2018-06-07Bibliographically approved

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Aronsson, Thomas

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf