Showing 1 - 10 of 3,080
Patience affects economic growth, no news. This paper investigates the opposite causal relationship, i.e., how growth …, coherently with the model's prediction, growth has a significant impact on the effort to teach patience. … influences patience. We propose a simple theoretical framework where heterogeneous parents may choose to transmit their cultural …
Persistent link: https://www.econbiz.de/10013353441
We study the role of expectations of naive agents in a general equilibrium version of the Ramsey model with quasi-hyperbolic discounting. When agents recognize others’ naivete, as strongly suggested by empirical evidence, they revise consumption paths, correctly anticipating prices in a...
Persistent link: https://www.econbiz.de/10014080053
Most economic models assume that time preferences are stable over time, but the evidence on their long-term stability is lacking. We study whether and how time preferences change over the life cycle, exploiting representative long-term panel data. We provide new evidence that discount rates...
Persistent link: https://www.econbiz.de/10013239561
Patience affects economic growth, no news. This paper investigates the opposite causal relationship, i.e., how growth …, coherently with the model’s prediction, growth has a significant impact on the effort to teach patience … influences patience. We propose a simple theoretical framework where heterogeneous parents may choose to transmit their cultural …
Persistent link: https://www.econbiz.de/10014081043
Societies see growing support for populist politicians who advocate an end to globalization. Our behavioral economics model links impatience to voters' appraisals of an income shock due to globalization that is associated with short-run costs and delayed gains. The model shows that impatient...
Persistent link: https://www.econbiz.de/10012826005
The main waves of a pandemic and subsequent disease outbreaks in the following years influence the evolution of the distributions of health and wealth, leading to differences in the ability to mitigate future income shocks. We study consumption smoothing and precautionary behaviour associated...
Persistent link: https://www.econbiz.de/10013310772
In the context of a two-tier pension system, with a pay-as-you-go first tier and a fully funded second tier, we demonstrate that a system with a defined wage-indexed second tier performs strictly better than one with a defined contribution or defined real benefit second tier. The former...
Persistent link: https://www.econbiz.de/10013316618
We study a growth model with two types of agents who are heterogeneous in their degree of family altruism. We prove … linking economic growth and income inequality. …
Persistent link: https://www.econbiz.de/10014469860
We consider a neoclassical growth model with quasi-hyperbolic discounting under Kantian optimization: each temporal …
Persistent link: https://www.econbiz.de/10013353402
We study the role of expectations of naive agents in a general equilibrium version of the Ramsey model with quasi-hyperbolic discounting. When agents recognize others' naivete, as strongly suggested by empirical evidence, they revise consumption paths, correctly anticipating prices in a...
Persistent link: https://www.econbiz.de/10013353458