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Lunch Seminar: Debraj Ray - New York University
Tuesday 30 June 2015, 01:00pm - 02:00pm

Aspirations and Inequality

Abstract:

This paper develops a theory in which society-wide economic outcomes shape individual aspirations, which affect the investment incentives of individuals. Through its impact on investments, individual aspirations in turn affect ambient social outcomes. We explore this two-way link in setting in which aspirations and income (and the distribution of income) evolve jointly. In particular, we explore the relationship between aspirations, growth and widening inequality.

   
   
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