Social status pursuit, distribution of bequests and inequality
Résumé
The quest for social status modifies lifetime decisions and as a consequence, the trajectory of the overall economy. Focusing on the relative wealth dimension of social status, we build a two-period overlapping generations model with heterogeneous agents to investigate the effects of status quest on the evolution of bequest distribution and household inequality. We show that the bequest motive and the concern for social status not only increase the stationary level of capital but also enhance the household equality.
Domaines
Economies et finances| Format du dépôt | Notice |
|---|---|
| Type de dépôt | Article dans une revue |
| Titre |
en
Social status pursuit, distribution of bequests and inequality
|
| Résumé |
en
The quest for social status modifies lifetime decisions and as a consequence, the trajectory of the overall economy. Focusing on the relative wealth dimension of social status, we build a two-period overlapping generations model with heterogeneous agents to investigate the effects of status quest on the evolution of bequest distribution and household inequality. We show that the bequest motive and the concern for social status not only increase the stationary level of capital but also enhance the household equality.
|
| Auteur(s) |
Carmen Camacho
1, 2
, Fatih Harmankaya
3
, Cagri Saglam
3
1
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
2
PJSE -
Paris Jourdan Sciences Economiques
( 578027 )
- 48 boulevard Jourdan 75014 Paris
- France
3
Bilkent University [Ankara]
( 136243 )
- Bilkent University 06800 Bilkent, Ankara TURKEY
- Turquie
|
| Page/Identifiant |
183-191
|
| Public visé |
Scientifique
|
| Langue du document |
Anglais
|
| Nom de la revue |
|
| Vulgarisation |
Non
|
| Comité de lecture |
Oui
|
| Audience |
Internationale
|
| Date de publication |
2020-03
|
| Volume |
86
|
| Domaine(s) |
|
| Mots-clés (JEL) |
|
| Mots-clés |
en
Reference dependent utility, Bequests, Social status, Household inequality
|
| DOI | 10.1016/j.econmod.2019.06.010 |
| UT key WOS | 000517850800013 |
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