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The Dynamics of Bequeathed Tastes

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Author Info
de la Croix, David (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES) ; Belgian National Fund for Scientific Research (FNRS))

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Abstract

If children inherit life standard aspirations from their parents, their savings are affected and cycles may appear in OLG models with production. At some point of an expansion, aspirations grow faster than wages, savings decrease, and a contraction begins.

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Publisher Info
Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 1996004.

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Length: 8
Date of creation: 01 Feb 1996
Date of revision:
Handle: RePEc:ctl:louvir:1996004

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Postal: Place Montesquieu 3, 1348 Louvain-la-Neuve (Belgium)
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Related research
Keywords: Non-separable preferences; aspirations; OLG; cycles; Hopf;

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Find related papers by JEL classification:
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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  1. David Delacroix & Philippe Michel, 2001. "Altruism and Self-Restraint," Annales d'Economie et de Statistique, ADRES, issue 63-64, pages 13, Juillet-D. [Downloadable!]
  2. Ingmar, SCHUMACHER & Benteng, ZOU, 2006. "Habit in Pollution. A Challenge for Intergenerational Equity," Discussion Papers (ECON - Département des Sciences Economiques) 2006004, Université catholique de Louvain, Département des Sciences Economiques. [Downloadable!]
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This page was last updated on 2009-11-30.

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