Measuring Time Preference and Parental Altruism: Technical Paper 2000-7

Shinichi Nishiyama ()

No 13333, Working Papers from Congressional Budget Office

Abstract: This paper extends a heterogeneous agent overlapping generations model by implementing bequests-both altruistic and accidental-and measures the degrees of time preference and parental altruism through the calibration of the model to the U.S. economy. In this model, a parent household and its adult child households behave consistently and strategically to determine their optimal consumption, working hours, and savings. Based on the obtained parameters, the paper also shows the individual effects of altruistic and accidental bequests on wealth accumulation by examining the

Date: 2000-10-01
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