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This paper considers the effects of changes in the income distribution in an economy where agents’ utility depends both on consumption and on their rank in the distribution of consumption of a positional good. We introduce a new methodology to compare the behavior of agents that occupy the...
Persistent link: https://www.econbiz.de/10005369061
This paper considers the effect of inequality when there are concerns for status. We analyse the effects of linear redistributive taxes in an economy where agents’ utility depends both on consumption and on their rank in the distribution of consumption of a positional good. This increase in...
Persistent link: https://www.econbiz.de/10005369083
In this paper, we investigate whether, because of differing social organisation, the effect of greater equality may have opposing effects on economic growth in different societies. We investigate a simple endogenous growth model where agents care about their status. This is determined by their...
Persistent link: https://www.econbiz.de/10005147105
of the standard model which do not respond to changes in supply or demand. Despite incomplete information, equilibrium …
Persistent link: https://www.econbiz.de/10005750729
Persistent link: https://www.econbiz.de/10002201189
Persistent link: https://www.econbiz.de/10001625855