Showing 1 - 8 of 8
We consider a situation where the relatively ‘poor’ are concerned about their relative income status with respect to a relevant reference group. Such a concern is explicitly introduced in a utility function to study the consumption and saving behavior of the poor in terms of a static and...
Persistent link: https://www.econbiz.de/10011259208
The existing literature on poverty has discussed about the conflict between income-based measure and nutrition-based measure. However, the role of social inequality in influencing individual’s consumption and inducing greater consumption of the so called status good has been relatively...
Persistent link: https://www.econbiz.de/10009323226
The conflict between the income based and nutrition based estimates of poverty is a widely debated issue in economic literature. This paper, using a two commodity framework, attempts to show that in presence of inequality, a status driven utility function can reconcile the conflict between the...
Persistent link: https://www.econbiz.de/10009323236
In presence of inequality a status driven utility function reconciles the conflict between income based and nutrition based measures of poverty. Moreover, it can explain why the poor tend to save less, an established empirical fact in the developing countries. The result is independent of the...
Persistent link: https://www.econbiz.de/10008765909
Abstract: Nowadays, the countries still face new challenges in sustaining their own financial systems, designing a credible regulatory framework, a better cooperation line and a solid cross-border crisis management. The aim of this paper is to underline the main sources of financial instability...
Persistent link: https://www.econbiz.de/10008833268
Abstract: The recent global financial crisis has exposed weaknesses in economic policy and financial structure on a national and international level. The aim of this paper is to underline how the present financial crisis affects the financial stability. The study is structured on chapters that...
Persistent link: https://www.econbiz.de/10008836751
The financial crisis has exposed the weaknesses in national and international economies, the disruption of the financial systems all over the world. The aim of this paper is to point out the importance of systemic risk management in the European Union (EU). Structured on two parts, the study...
Persistent link: https://www.econbiz.de/10008836752
In this paper we attempt to examine the role of social inequality and status effects in driving trade between two countries which differ systematically only in terms of income-distribution using a status-driven model of consumption involving a status and a non-status good. Our model illustrates...
Persistent link: https://www.econbiz.de/10011112807