Investing in Patience

Fabrizio Zilibotti and Matthias Doepke

No 31, 2004 Meeting Papers from Society for Economic Dynamics

Abstract: Both empirical and theoretical evidence suggests that preference heterogeneity is a necessary feature of any model that is able to account for observed heterogeneity in wealth and lifetime income and consumption profiles. Why do tastes differ across people? We propose a framework in which people can invest in their own (or their children's) patience, and discuss its implications for long-run economic growth.

Keywords: Growth; endogenous preferences (search for similar items in EconPapers)
JEL-codes: D10 E20 O40 (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed004:31

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