Time Preference Instability, Financial and Working Status

Caterina Giannetti

Working Papers from Dipartimento Scienze Economiche, Universita' di Bologna

Abstract: In this paper we study the drivers of change in individuals discount rates. Our panel dataset allows us to jointly consider socio-demographics, financial status and literacy, as well as job characteristics among the possible determinants. Our results suggest that individual time-preferences are not stable over time, especially among individuals who hold debts. Labour market variables do not play any direct role. A large part of the variation, however, is not explained by none these drivers. This supports the view that discount rates are related to an underlying unobservable individual trait.

JEL-codes: C33 D1 D90 (search for similar items in EconPapers)
Date: 2014-02
New Economics Papers: this item is included in nep-sog
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:bol:bodewp:wp924

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