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Status In A Canonical Macro Model: Labour Supply, Growth And Inequality

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  • CHRISTOPHER TSOUKIS
  • FRÉDÉRIC TOURNEMAINE

Abstract

We introduce status in the most standard (canonical) macro model that is able to provide an analysis of growth and distribution. We consider the question of whether status considerations enable the model to meet some important empirical findings (which we review) related to rising labour supply (the work-life balance), rising income inequality, and changing factor shares. We find a promising role for status in the explanation of these empirical regularities.
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  • Christopher Tsoukis & Frédéric Tournemaine, 2013. "Status In A Canonical Macro Model: Labour Supply, Growth And Inequality," Manchester School, University of Manchester, vol. 81(s2), pages 65-92, October.
    • Handle: RePEc:bla:manchs:v:81:y:2013:i:s2:p:65-92
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    2. Jun-ichi Itaya & Chris Tsoukis, 2017. "Social Capital and the Status Externality," CESifo Working Paper Series 6820, CESifo.
    3. Tournemaine, Frederic & Tsoukis, Christopher, 2015. "The growth–distribution nexus in a mixed regime of education with a status motive: On the macroeconomics of the welfare state," Economic Modelling, Elsevier, vol. 47(C), pages 235-243.
    4. Jun‐ichi Itaya & Christopher Tsoukis, 2022. "Social capital and the status externality," International Journal of Economic Theory, The International Society for Economic Theory, vol. 18(2), pages 154-181, June.

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    More about this item

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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