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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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    Citations

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    Cited by:

    1. 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.
    2. Sanou Issa, 2021. "Jealousy and Wealth Inequality: The Cases of Heterogeneous Preferences and Elastic Labor Supply," Working Papers hal-03408115, HAL.
    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. Sanou, Issa, 2024. "Consumption externalities, elastic labor supply and wealth distribution," Economic Modelling, Elsevier, vol. 137(C).
    5. 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.
    6. 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

    Keywords

    Status; growth; inequality; labour supply; social/behavioural macroeconomics;
    All these keywords.

    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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