Please use this identifier to cite or link to this item: http://bura.brunel.ac.uk/handle/2438/25212
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dc.contributor.authorBorissov, K-
dc.contributor.authorHashimzade, N-
dc.date.accessioned2022-09-16T09:30:41Z-
dc.date.available2022-09-16T09:30:41Z-
dc.date.issued2022-09-20-
dc.identifier102765-
dc.identifier.citationBorissov, K. and Hashimzade, N. (2022) 'Fiscal policy and inequality in a model with endogenous positional concerns', Journal of Mathematical Economics, 0 (in press, corrected proof), 102765, pp. 1 - 12. doi: 10.1016/j.jmateco.2022.102765.en_US
dc.identifier.issn0304-4068-
dc.identifier.urihttps://bura.brunel.ac.uk/handle/2438/25212-
dc.description.abstractCopyright © 2022 The Author(s). We investigate the dynamics of wealth inequality in an economy where households have positional preferences, with the strength of the positional concern determined endogenously by inequality of wealth distribution in the society. We demonstrate that in the long run such an economy converges to a unique egalitarian steady-state equilibrium, with all households holding equal positive wealth, when the initial inequality is sufficiently low. Otherwise, the steady state is characterised by polarisation of households into rich, who own all the wealth, and poor, whose wealth is zero. A fiscal policy with government consumption funded by taxes on labour income and wealth can move the economy from any initial state towards an egalitarian equilibrium with a higher aggregate wealth.en_US
dc.format.extent1 - 12-
dc.format.mediumPrint-Electronic-
dc.language.isoen_USen_US
dc.publisherElsevieren_US
dc.rightsCopyright © 2022 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY license (https://creativecommons.org/licenses/by/4.0/).-
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/).-
dc.subjectpositional preferencesen_US
dc.subjectrelative consumptionen_US
dc.subjectinequalityen_US
dc.subjectfiscal policyen_US
dc.titleFiscal policy and inequality in a model with endogenous positional concernsen_US
dc.typeArticleen_US
dc.identifier.doihttps://doi.org/10.1016/j.jmateco.2022.102765-
dc.relation.isPartOfJournal of Mathematical Economics-
pubs.publication-statusPublished online-
pubs.volume0-
dc.identifier.eissn1873-1538-
dc.rights.holderThe Author(s)-
Appears in Collections:Dept of Economics and Finance Research Papers

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