Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 546327
Title Income inequality and saving in a class society: the role of ordinal status
Author(s) Haagsma, R.
Source Economics 12 (2018). - ISSN 1864-6042 - p. 2018 - 2046.
Department(s) WASS
Development Economics
Publication type Refereed Article in a scientific journal
Publication year 2018
Keyword(s) status - relative consumption - saving - income inequality - income growth
Abstract This paper examines the impact of income growth and income inequality on household saving rates and payoffs in a non-cooperative game where each player’s payoff depends on her present and future consumption and her rank in the present consumption distribution. The setting is a pooling equilibrium with three clusters of successive income groups, each cluster having its own present-consumption standard and rank in the present-consumption distribution. In this way the analysis addresses the saving behaviour and welfare of three social classes: the lower, middle and upper class. Explanations are found for the Easterlin paradox and the Kuznets consumption puzzle and it is concluded that rank concerns tend to strengthen the case for more income equality and weaken the standard effect of inequality on aggregate saving.
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