Munich Personal RePEc Archive

Status, Poverty and Trade

Marjit, Sugata and Roychowdhury, Punarjit (2011): Status, Poverty and Trade.

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Abstract

The conflict between the income based and nutrition based estimates of poverty is a widely debated issue in economic literature. This paper, using a two commodity framework, attempts to show that in presence of inequality, a status driven utility function can reconcile the conflict between the two measures of poverty. In addition, a simple general equilibrium model using such a utility function is constructed to analyse the implications of social inequality on relative prices and the emerging pattern of trade.

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