Under the the assumption that income y is a power function of its rank among n individuals, we approximate the …

endogenous cycles. In contrast to previous results, we relate the existence of such cycles to the most commonly used inequality …

We explore the link between wealth inequality and business cycle fluctuations in a two-sector neoclassical growth model … with endogenous labor and heterogeneous agents. Assuming that wealth inequality is described by the distribution of shares … tolerance indices are linear, as with HARA utility, even a low level of taste heterogeneity ensures that a rise in inequality …

There is now a great deal of micro-econometric evidence, both cross-section and panel, showing that income is … measures of utility, and resolve the Easterlin paradox by appealing to income comparisons: these can be to others (social …

This research tested the idea that lack of material resources (e.g., low income) causes people to make harsher moral … behavior. Consistent with this idea, a large cross-cultural survey (Study 1) found that both chronic (low income) and … stronger for low-income individuals, whom inflation renders relatively more vulnerable. A follow-up experiment (Study 2) caused …

We use British panel data to determine the exogenous impact of income on a number of individual health outcomes … allow us to make causal statements regarding the effect of income on health, as the amount won by winners is largely … exogenous. Positive income shocks have no significant effect on self-assessed overall health, but a significant positive effect …

This paper asks what low-income countries can expect from growth in terms of happiness. It interprets the set of … available international evidence pertaining to the relationship between income growth and subjective well-being. Conforming to … the Easterlin paradox, higher income always correlates with higher happiness, except in one case: whether national income …