Status jobs, human capital, and growth: the effects of heterogeneity
AbstractThis paper develops a simple endogenous growth model of human capital accumulation with social status effects. These include status from job quality, as indicated by their relative level of education, as well as 'keeping up with the Joneses' in consumption. Symmetrically held, social aspirations increase growth, but possibly to a sub-optimally high level. Under heterogeneity, we show that growth and inequality are negatively related. We distinguish between 'average' and 'differential' status effects, and point out the difference in the effects on growth and equality between these two classes. Within the 'differential' effects class, any rise in 'gains from' and decrease in 'pains from the lack of' status from either consumption and/or job quality would decrease mean hours in education, growth, and increase inequality. Copyright 2009 , Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 61 (2009)
Issue (Month): 3 (July)
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- Frederic Tournemaine & Christopher Tsoukis, 2010.
"Status, Fertility, Growth And The Great Transition,"
The Singapore Economic Review (SER),
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- Christopher Tsoukis & Frédéric Tournemaine, 2013.
"Status In A Canonical Macro Model: Labour Supply, Growth And Inequality,"
University of Manchester, vol. 81, pages 65-92, October.
- Tsoukis, Christopher & Tournemaine, Frederic, 2010. "Status in a canonical macro model: labour supply, growth, and inequality," MPRA Paper 26480, University Library of Munich, Germany.
- Tsoukis, Christopher & Tournemaine, Frederic, 2010.
"Social conflict, growth and factor shares,"
23365, University Library of Munich, Germany, revised 20 Jun 2010.
- Tournemaine, Frederic & Tsoukis, Christopher, 2010.
"Gain versus pain from status and ambition: Effects on growth and inequality,"
Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics),
Elsevier, vol. 39(2), pages 286-294, April.
- Tournemaine, Frederic & Tsoukis, Christopher, 2008. "Gain versus pain from status and ambition: Effects on growth and inequality," MPRA Paper 8670, University Library of Munich, Germany.
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