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Mon père avait raison : la transmission des valeurs entre les générations

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  • Luc Arrondel

    (PJSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

Research using French data has often found that parents' saving behaviour influences that of their children. This article attempts to explain this phenomenon using data from a unique French survey set up by Delta and TNS-Sofres in 2002. This survey contains information on both preference and saving information for two generations of respondents.Savings preferences of parents and children, concerning risk attitudes and time discounting, are significantly correlated. The correlation coefficient is 0.25, so that the concordance, while significant, is not complete. The analogous correlation between wealth levels is 0.22. This coefficient is corrected for the differences in age of the two generations, and concerns coexisting generations, i.e. before the most significant intergenerational transfers have taken place. Over 40% of this elasticity results (directly or indirectly) from the levels of permanent income of the two generations. Education and preferences further explain around 20% each, and intergenerational transfers that have already taken place around 13%. The contribution of savers' preferences is also around 13%, we control for the effect of permanent income. Even though it is only one of a number of channels of influence, the transmission of preferences therefore plays a non- negligible role in the transmission of wealth inequalities.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Luc Arrondel, 2009. "Mon père avait raison : la transmission des valeurs entre les générations," PSE-Ecole d'économie de Paris (Postprint) halshs-00754375, HAL.
    • Handle: RePEc:hal:pseptp:halshs-00754375
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    Cited by:

    1. N. Frémeaux & Thomas Piketty, 2013. "GINI Country Report: Growing Inequalities and their Impacts in France," GINI Country Reports france, AIAS, Amsterdam Institute for Advanced Labour Studies.
    2. Luc Arrondel & André Masson, 2013. "Measuring savers' preferences how and why?," Working Papers halshs-00834203, HAL.

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