Determinants of Children’s Economic Aspirations and Implications for Their Well-being

Martin Leites, Rodrigo Nicolau () and Gonzalo Salas
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Rodrigo Nicolau: Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía

No 25-23, Documentos de Trabajo (working papers) from Instituto de Economía - IECON

Abstract: In this study, we examine the determinants of children’s economic aspiration. Drawing on microdata from Estudio Longitudinal del Bienestar en Uruguay, we explore alternative measures of economic aspirations. Then, we address three fundamental components of children’s aspiration window: (i) parental economic aspirations, (ii) family socioeconomic background, and (iii) parents´ peer. Finally, we test the presence of aspiration failures and their implications for well-being. Our results confirm that parents’ aspirations are the key driver of children’s economic aspirations. Peers’ parents and their beliefs influence only the aspirations of children from low-income families. Higher aspirations reduce short-term well-being but enhance outcomes between generations, providing insights into aspiration-driven behaviors and the persistence of inequality.

Keywords: Aspirations; beliefs; well-being; socialization processes (search for similar items in EconPapers)
JEL-codes: D30 I3 O10 O12 O15 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2025-10
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https://hdl.handle.net/20.500.12008/52392

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Persistent link: https://EconPapers.repec.org/RePEc:ulr:wpaper:dt-23-25

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