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      <record key="001" att1="001" value="160304" att2="160304">001   160304</record>
      <field key="037" subkey="x">englisch</field>
      <field key="050" subkey="x">Forschungsbericht</field>
      <field key="076" subkey="">Ökonomie</field>
      <field key="079" subkey="y">http://www.ihs.ac.at/publications/eco/es-181.pdf</field>
      <field key="079" subkey="z">Fisher, Walter H. - et al., The Quest for Status and Endogenous Labor Supply (pdf)</field>
      <field key="079" subkey="y">http://ideas.repec.org/p/ihs/ihsesp/181.html</field>
      <field key="079" subkey="z">Institute for Advanced Studies. Economics Series; 181 (RePEc)</field>
      <field key="100" subkey="">Fisher, Walter H.</field>
      <field key="103" subkey="">Department of Economics and Finance, Institute for Advanced Studies, Vienna, Austria</field>
      <field key="104" subkey="a">Hof, Franz X.</field>
      <field key="107" subkey="">Institute for Mathematical Methods in Economics, Research Unit Economics, Vienna University of Technology</field>
      <field key="331" subkey="">The Quest for Status and Endogenous Labor Supply</field>
      <field key="335" subkey="">The Relative Wealth Framework</field>
      <field key="403" subkey="">1. Ed.</field>
      <field key="410" subkey="">Wien</field>
      <field key="412" subkey="">Institut für Höhere Studien</field>
      <field key="425" subkey="">2005, November</field>
      <field key="433" subkey="">39 pp., Figures</field>
      <field key="451" subkey="">Institut für Höhere Studien; Reihe Ökonomie; 181</field>
      <field key="451" subkey="h">Kunst, Robert M. (Ed.) ; Fisher, Walter (Assoc. Ed.) ; Ritzberger, Klaus (Assoc. Ed.)</field>
      <field key="461" subkey="">Economics Series</field>
      <field key="517" subkey="c">from the Table of Contents: Introduction; The Model and the Social Planner's Problem; Decentralized Economy; Conclusion;</field>
      <field key="App" subkey="e">ndix; Additional Appendix; References; Figures;</field>
      <field key="542" subkey="">1605-7996</field>
      <field key="544" subkey="">IHSES 181</field>
      <field key="700" subkey="">D62</field>
      <field key="700" subkey="">D91</field>
      <field key="700" subkey="">E21</field>
      <field key="720" subkey="">Status</field>
      <field key="720" subkey="">Relative consumption</field>
      <field key="720" subkey="">Relative wealth</field>
      <field key="720" subkey="">Endogenous labor supply</field>
      <field key="753" subkey="">Abstract: This paper introduces the quest for status into the Ramsey model with endogenous labor supply. We focus our attention</field>
      <field key="on" subkey="r">elative wealth preferences. In contrast to relative consumption preferences, they allow for the possibility that agents work</field>
      <field key="too" subkey="">little in the long run, while under both specifications the steady-state levels of consumption and the stock of physical</field>
      <field key="cap" subkey="i">tal exceed their socially optimal counterparts. The initial phase of transitional dynamics is unambiguously characterized by</field>
      <field key="und" subkey="e">r-consumption and excessive work effort. The social optimum can be replicated by taxing capital income, where the optimal tax</field>
      <field key="rat" subkey="e">increases as physical capital accumulates.;</field>
    </SEQUENTIAL>
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