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Altruism and self-refrain

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  • de la Croix, David

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

  • Michel, Philippe

    (Université de la Méditerranée, IUF; GREQAM, Marseille)

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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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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Keywords: altruism; habits; catching-up; regime shift;

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  1. Gary S. Becker, 1991. "Habits, Addictions, and Traditions," University of Chicago - George G. Stigler Center for Study of Economy and State, Chicago - Center for Study of Economy and State 71, Chicago - Center for Study of Economy and State.
  2. Weil, Philippe, 1987. "Love thy children : Reflections on the Barro debt neutrality theorem," Journal of Monetary Economics, Elsevier, Elsevier, vol. 19(3), pages 377-391, May.
  3. Andrew B. Abel, 1988. "Operative Gift and Bequest Motives," NBER Working Papers 2331, National Bureau of Economic Research, Inc.
  4. Boucekkine, Raouf, 1995. "An alternative methodology for solving nonlinear forward-looking models," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 19(4), pages 711-734, May.
  5. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
  6. Jouvet, Pierre-Andre & Michel, Philippe & Vidal, Jean-Pierre, 2000. " Intergenerational Altruism and the Environment," Scandinavian Journal of Economics, Wiley Blackwell, Wiley Blackwell, vol. 102(1), pages 135-50, March.
  7. Gary S. Becker, 1974. "A Theory of Social Interactions," NBER Working Papers 0042, National Bureau of Economic Research, Inc.
  8. Ryder, Harl E, Jr & Heal, Geoffrey M, 1973. "Optimum Growth with Intertemporally Dependent Preferences," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 40(1), pages 1-33, January.
  9. Alex Michalos, 1980. "Satisfaction and happiness," Social Indicators Research, Springer, Springer, vol. 8(4), pages 385-422, December.
  10. 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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Cited by:
  1. Jaime Alonso-Carrera & Jordi Caballe & Xavier Raurich, 2005. "Estate Taxes, Consumption Externalities, and Altruism," Working Papers 232, Barcelona Graduate School of Economics.
  2. 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.
  3. Gori, Luca & Sodini, Mauro, 2012. "Indeterminacy and nonlinear dynamics in an OLG growth model with endogenous labour supply and inherited tastes," MPRA Paper 35942, University Library of Munich, Germany.
  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. Cardia, Emanuela & Michel, Philippe, 2004. "Altruism, intergenerational transfers of time and bequests," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 28(8), pages 1681-1701, June.
  6. 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.
  7. Hillel Rapoport & Jean-Pierre Vidal, 2003. "Economic Growth and Endogenous Intergenerational Altruism," Working Papers, Bar-Ilan University, Department of Economics 2003-04, Bar-Ilan University, Department of Economics.
  8. Luca Correani, 2004. "Preferences,Development And The Corruption Trap," Public Economics, EconWPA 0406007, EconWPA.
  9. 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).

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