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Tsoukis, C. and Tournemaine, F. (2013) Status in a canonical macro model: Labour supply, growth and inequality. Manchester School, 81. pp. 65-92.


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We introduce status in a standard ('canonical') macro model of growth and distribution. Status is introduced in a flexible way that allows for intrinsic and extrinsic motivation, loss aversion, heterogeneity in motives and inequality aversion. We incorporate such considerations in the model and derive implications for growth, inequality and labour supply. We review empirical evidence related to these variables, and show that the predictions of the model with status are consistent with these observations. Thus, status can offer a rich set of new explanations related to important empirical patterns.

Item Type: Article
Subjects: Economics > Economic Theory and Research
Divisions: Research Center > Research Support Office
Depositing User: Miss Niramol Sudkhanung
Date Deposited: 20 Jun 2016 09:39
Last Modified: 20 Jun 2016 09:39
URI: http://eprints.utcc.ac.th/id/eprint/5671

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