Supplement to "Aspirations and Inequality"

This Appendix provides supplementary material to accompany the main text. Appendix A concerns stationary and steady states in the model with bounded income. It characterizes stationary states for the model with bounded income. It shows by example that stationary states may not always exist and proves the existence of the weaker notion of a steady state. It contains an extension to technological progress in the model with bounded income. Appendix B provides some comparative statics results in the constant elasticity growth model. Appendix C proves Observations 2 and 3 of Section 5.4.1 in the main text. It discusses minimal monotonicity and shows that upward mean aspirations satisfy this property.

Supplemental Authors: 
Genicot, Garance - Georgetown University
Ray, Debraj - New York University
Online Appendix