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Economics breeds culture

Author

Listed:
  • Patricio Garcia-Minguez

    () (Facultat d'Economia i Empresa; Universitat de Barcelona (UB))

  • Ausias Ribo Argemi

    () (Facultat d'Economia i Empresa; Universitat de Barcelona (UB))

Abstract

Several recent papers document the influence and long lasting effects oftechnology on preferences. Simultaneously, cultural factors are often invoked to explain heterogeneity in preferences. These two ideas suggest that culture determines the short run equilibrium values of economic variables, but, in the long run, culture changes in response to the underlying economic fundamentals. We build a model in which preferences are endogenous and the diversity in preferences (the "cultural" diversity) is explained by the variation in the relevant economic fundamentals. This can help explain observed differences in labor market attachment among groups defined e.g., by citizenship, ethnicity or gender.

Suggested Citation

  • Patricio Garcia-Minguez & Ausias Ribo Argemi, 2014. "Economics breeds culture," UB Economics Working Papers 2014/312, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.
  • Handle: RePEc:ewp:wpaper:312web
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    References listed on IDEAS

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    1. Alberto Alesina & Andrea Ichino & Loukas Karabarbounis, 2011. "Gender-Based Taxation and the Division of Family Chores," American Economic Journal: Economic Policy, American Economic Association, vol. 3(2), pages 1-40, May.
    2. de la Croix, David, 1996. "The dynamics of bequeathed tastes," Economics Letters, Elsevier, vol. 53(1), pages 89-96, October.
    3. Hauk, Esther & Saez-Marti, Maria, 2002. "On the Cultural Transmission of Corruption," Journal of Economic Theory, Elsevier, vol. 107(2), pages 311-335, December.
    4. Constantinides, George M, 1990. "Habit Formation: A Resolution of the Equity Premium Puzzle," Journal of Political Economy, University of Chicago Press, vol. 98(3), pages 519-543, June.
    5. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 75-111, March.
    6. Olivier Blanchard, 2004. "The Economic Future of Europe," Journal of Economic Perspectives, American Economic Association, vol. 18(4), pages 3-26, Fall.
    7. Luisa Escriche & Gonzalo Olcina & Rosario Sánchez, 2004. "Gender discrimination and intergenerational transmission of preferences," Oxford Economic Papers, Oxford University Press, vol. 56(3), pages 485-511, July.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Endogenous Preferences; Technology; Culture; Labor market participation; Taxes.;

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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