Social Status, Culture and Economic Performance
AbstractCultural differences among societies may translate into different social status of occupations and can, therefore, affect the workers' choice of education and occupation and, consequently, the equilibrium level of output and wages. Conversely, the economic choices of individuals influence the social status of occupations. This paper constructs a general equilibrium model in which both wages and status are determined endogenously. The authors show that changes in the demand for status, triggered by changes in preferences or income distribution, influence the wage structure, the level of aggregate output, and economic welfare. Copyright 1993 by Royal Economic Society.
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Bibliographic InfoPaper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number 1007.
Date of creation: Sep 1991
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Postal: Center for Mathematical Studies in Economics and Management Science, Northwestern University, 580 Jacobs Center, 2001 Sheridan Road, Evanston, IL 60208-2014
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- Cole, Harold L & Mailath, George J & Postlewaite, Andrew, 1992. "Social Norms, Savings Behavior, and Growth," Journal of Political Economy, University of Chicago Press, vol. 100(6), pages 1092-1125, December.
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"Social Status , Culture and Economic Performance,"
32-91, Tel Aviv.
- Basu, Kaushik, 1989. "A Theory of Association: Social Status, Prices and Markets," Oxford Economic Papers, Oxford University Press, vol. 41(4), pages 653-71, October.
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