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The Impact of Growth on the Transmission of Patience

Author

Listed:
  • Domenico Delli Gatti
  • Jakob Grazzini
  • Domenico Massaro
  • Fabrizio Panebianco

Abstract

Patience affects economic growth, no news. This paper investigates the opposite causal relationship, i.e., how growth influences patience. We propose a simple theoretical framework where heterogeneous parents may choose to transmit their cultural trait - patience - to their offspring. Our model shows that parental effort to educate children to patience positively depends on economic growth. We test empirically this result using both country-level and individual data and show that, coherently with the model’s prediction, growth has a significant impact on the effort to teach patience.

Suggested Citation

  • Domenico Delli Gatti & Jakob Grazzini & Domenico Massaro & Fabrizio Panebianco, 2022. "The Impact of Growth on the Transmission of Patience," CESifo Working Paper Series 9829, CESifo.
    • Handle: RePEc:ces:ceswps:_9829
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    References listed on IDEAS

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    13. Uwe Sunde & Thomas Dohmen & Benjamin Enke & Armin Falkbriq & David Huffman & Gerrit Meyerheim, 2022. "Patience and Comparative Development," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(5), pages 2806-2840.
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    2. Russell Davidson & Andrea Monticini, 2023. "Bootstrap Performance with Heteroskedasticity," DISCE - Working Papers del Dipartimento di Economia e Finanza def130, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    3. Valentina Colombo & Alessia Paccagnini, 2024. "Uncertainty and the Federal Reserve’s Balance Sheet Monetary Policy," DISCE - Working Papers del Dipartimento di Economia e Finanza def131, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    4. Irene Torrini & Claudio Lucifora & Antonio Russo, 2022. "The Long-Term Effects of Hospitalization on Health Care Expenditures: An Empirical Analysis for the Young-Old Population," DISCE - Working Papers del Dipartimento di Economia e Finanza def117, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).

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    More about this item

    Keywords

    growth; patience; cultural transmission;
    All these keywords.

    JEL classification:

    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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