Altruism and self-refrain

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Altruism and self-refrain

Author Info

de la Croix, David (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES) ; Belgian National Fund for Scientific Research (FNRS))
Michel, Philippe (UniversitŽ de la MŽditerranŽe, IUF; GREQAM, Marseille)

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Abstract

We address the issue of altruism when standard-of-living aspirations are transmitted from one generation to the other. In that case, the influence of altruistic parents is not limited to the bequest they could leave; indeed, they direct the evolution of children's aspirations toward raising their utility by refraining 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. In an example nesting the Barro-Weil model, bequests can be positive even if this is never the case in the Barro-Weil economy. It is possible for an economy to experience regime shifts along the convergence path to the steady state.

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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 1998010.

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Length: 24
Date of creation: 01 Sep 1997
Date of revision: 00 Apr 1998
Handle: RePEc:ctl:louvir:1998010

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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

This paper has been announced in the following NEP Reports:

NEP-ALL-2002-02-10 (All new papers)
NEP-DEV-2002-02-10 (Development)
NEP-EVO-2002-02-10 (Evolutionary Economics)

References listed on IDEAS
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Other versions:
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JOUVET, Pierre-AndrŽ & MICHEL, Philippe & VIDAL, Jean-Pierre, 1997. "Intergenerational altruism and the environment," CORE Discussion Papers 1997041, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
Other versions:
- Jouvet, P.-A. & Michel, P. & Vidal, J.-P., 1999. "Intergenerational Altruism and the Environment," G.R.E.Q.A.M. 99a03, Universite Aix-Marseille III.
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Other versions:
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

CARDIA, Emanuela & MICHEL, Philippe, 2003. "Altruism, Intergenerational Transfers of Time and Bequests," Cahiers de recherche 02-2003, Centre interuniversitaire de recherche en économie quantitative, CIREQ. [Downloadable!]
Other versions:
- CARDIA, Emanuela & MICHEL, Philippe, 2003. "Altruism, Intergenerational Transfers of Time and Bequests," Cahiers de recherche 2003-04, Universite de Montreal, Departement de sciences economiques. [Downloadable!]
- Cardia, Emanuela & Michel, Philippe, 2004. "Altruism, intergenerational transfers of time and bequests," Journal of Economic Dynamics and Control, Elsevier, vol. 28(8), pages 1681-1701, June. [Downloadable!] (restricted)

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