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Status in a canonical macro model: labour supply, growth, and inequality

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  • Tsoukis, Christopher
  • Tournemaine, Frederic

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.

Suggested Citation

  • Tsoukis, Christopher & Tournemaine, Frederic, 2010. "Status in a canonical macro model: labour supply, growth, and inequality," MPRA Paper 26480, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:26480
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    Cited by:

    1. Jun-ichi Itaya & Chris Tsoukis, 2017. "Social Capital and the Status Externality," CESifo Working Paper Series 6820, CESifo Group Munich.
    2. 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.
    3. Itaya, Jun-ichi & Tsoukis, Chris, 2017. "Social Capital and the Status Externality," Discussion paper series. A 318, Graduate School of Economics and Business Administration, Hokkaido University.
    4. Frederic Tournemaine & Christopher Tsoukis, 2015. "Public Expenditures, Growth, and Distribution in a Mixed Regime of Education with a Status Motive," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 17(5), pages 673-701, October.

    More about this item

    Keywords

    Status; growth; inequality; labour supply; social/behavioural macroeconomics;

    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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