Abstract
This paper examines the impact of luxury goods consumption by the wealthy on the welfare of socially excluded groups. We find that a deterioration in the luxury goods terms-of-trade or an increase in the capital used to produce nonluxury traded goods have the consequence of increasing the welfare of the wealthier sections of society at the expense of the socially excluded groups.
| Original language | English |
|---|---|
| Pages (from-to) | e228-e238 |
| Journal | Review of Development Economics |
| Volume | 22 |
| Issue number | 4 |
| Online published | 27 Aug 2018 |
| DOIs | |
| Publication status | Published - Nov 2018 |
Bibliographical note
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