How does inequality motivate people and at what cost? In a model of perpetual youth, people have heterogeneous upward-looking aspirations. They value their consumption relative to the conditional mean of those above them in the distribution; their survival depends on health capital produced from...

How does inequality motivate people and at what cost? We develop a model of perpetual youth with heterogeneous upward-looking aspirations -- people value their consumption relative to the conditional mean of those above them in the distribution. Their survival depends on health capital produced...

Available evidence suggests high intergenerational correlation of economic status, and persistent disparities in health status between the rich and the poor. This paper proposes a novel mechanism linking the two. Health human capital is introduced into a two-period overlapping generations model....

Available evidence suggests high intergenerational correlation of economic status, and persistent disparities in health status between the rich and the poor. This paper proposes a novel mechanism linking the two. We introduce health human capital into a two-period overlapping generations model....

Available evidence suggests high intergenerational correlation of economic status,and persistent disparities in health status between the rich and the poor. This paper proposes a novel mechanism linking the two. We introduce health human capital into a two-period overlapping generations model....