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Are Economic Values Transmitted from Parents to Children?

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Abstract

Economic research shows that differences in cultural traits and values—for example, trust, or the propensity to cooperate and not free-ride on others—are important determinants of economic outcomes, such as growth, economic and financial development, and international trade. It’s much less clear, however, where these differences in economic-relevant values come from. While economists generally assume that they’re transmitted from parents to children, the empirical evidence to this effect is almost nonexistent.

Suggested Citation

  • Marco Cipriani & Olivier Jeanne, 2014. "Are Economic Values Transmitted from Parents to Children?," Liberty Street Economics 20140106, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:86916
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    Keywords

    economic values; Public goods game;

    JEL classification:

    • J00 - Labor and Demographic Economics - - General - - - General

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