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Altruism and Self-Restraint

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  • David DE LA CROIX
  • Philippe MICHEL

Abstract

Parental altruism plays a particular role when standard-of-living aspirations are transmitted from one generation to the next. The influence of altruistic parents is not limited to the bequest they could leave; they also direct the evolution of children's aspirations by restraining their own consumption standard. We show that, even if there is no bequest, altruism always increases capital accumulation and has a stabilizing effect on the economy. However, its effect on steady state welfare can be negative. Inherited standard-of-living can also generate regime shifts (bequest/no bequest) along the equilibrium path.

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Bibliographic Info

Article provided by ENSAE in its journal Annals of Economics and Statistics.

Volume (Year): (2001)
Issue (Month): 63-64 ()
Pages: 233-259

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Handle: RePEc:adr:anecst:y:2001:i:63-64:p:12

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  1. Andrew B. Abel, 1988. "Operative Gift and Bequest Motives," NBER Working Papers 2331, National Bureau of Economic Research, Inc.
  2. Becker, G.S., 1991. "Habits, Addictions, and Traditions," University of Chicago - Economics Research Center, Chicago - Economics Research Center 91-8, Chicago - Economics Research Center.
  3. Barro, Robert J., 1974. "Are Government Bonds Net Wealth?," Scholarly Articles 3451399, Harvard University Department of Economics.
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  5. Easterlin, Richard A, 1971. "Does Human Fertility Adjust to the Environment?," American Economic Review, American Economic Association, American Economic Association, vol. 61(2), pages 399-407, May.
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  10. Alex Michalos, 1980. "Satisfaction and happiness," Social Indicators Research, Springer, Springer, vol. 8(4), pages 385-422, December.
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Cited by:
  1. Rapoport, Hillel & Vidal, Jean-Pierre, 2007. "Economic growth and endogenous intergenerational altruism," Journal of Public Economics, Elsevier, Elsevier, vol. 91(7-8), pages 1231-1246, August.
  2. Jaime Alonso-Carrera & Jordi Caballé & Xavier Raurich, 2007. "Aspirations, Habit Formation, and Bequest Motive," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 117(520), pages 813-836, 04.
  3. Jaime Alonso-Carrera & Jordi Caballé & Xavier Raurich, 2005. "Estate Taxes, Consumption Externalities, and Altruism," UFAE and IAE Working Papers, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) 658.05, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  4. Jordi Caballé & Ana I. Moro Egido, 2008. "The Effect of Aspirations, Habits, and Social Security on the Distribution of Wealth," ThE Papers, Department of Economic Theory and Economic History of the University of Granada. 08/02, Department of Economic Theory and Economic History of the University of Granada..
  5. Luca Correani, 2004. "Preferences,Development And The Corruption Trap," Public Economics, EconWPA 0406007, EconWPA.
  6. CARDIA, Emanuela & MICHEL, Philippe, 2003. "Altruism, Intergenerational Transfers of Time and Bequests," Cahiers de recherche, Universite de Montreal, Departement de sciences economiques 2003-04, Universite de Montreal, Departement de sciences economiques.
  7. de la Croix, David, 1996. "Economic development and convergence clubs: the role of inherited tastes and human capital," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales), Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) 1996024, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES), revised 00 Oct 1996.
  8. Olivia C. Estrella L?ez, 2003. "Social Capital and Government in the Production of Public Goods," UFAE and IAE Working Papers, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) 580.03, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  9. Luca Gori & Mauro Sodini, 2014. "Indeterminacy and nonlinear dynamics in an OLG growth model with endogenous labour supply and inherited tastes," Decisions in Economics and Finance, Springer, Springer, vol. 37(1), pages 159-179, April.

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