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When Wealth Affects People's Impatience

Author

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  • Wang Peng

    (Wuhan University)

  • Heng-fu Zou

    (Wuhan University
    CEMA in Central University of Finance and Economics)

Abstract

Zou [1994] has proved that the spirit of capitalism will cause endogenous growth using the AK model. We find that this conclusion needs to be reexamined under our endogenous time preference model. Contrastingly different patterns of growth will obtain under our framework.

Suggested Citation

  • Wang Peng & Heng-fu Zou, 2012. "When Wealth Affects People's Impatience," CEMA Working Papers 529, China Economics and Management Academy, Central University of Finance and Economics.
    • Handle: RePEc:cuf:wpaper:529
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