Time Preference Instability, Financial and Working Status

Giannetti, Caterina (2014) Time Preference Instability, Financial and Working Status. Bologna: Dipartimento di Scienze economiche DSE, p. 20. DOI 10.6092/unibo/amsacta/3953. In: Quaderni - Working Paper DSE (924). ISSN 2282-6483.
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Abstract

In this paper we study the drivers of change in individuals’ discount rates. Our panel dataset allows us to jointly consider socio-demographics, financial status and literacy, as well as job characteristics among the possible determinants. Our results suggest that individual time-preferences are not stable over time, especially among individuals who hold debts. Labour market variables do not play any direct role. A large part of the variation, however, is not explained by none these drivers. This supports the view that discount rates are related to an underlying unobservable individual trait.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Giannetti, Caterina
Keywords
Time-preferences, financial constraints, debts
Subjects
ISSN
2282-6483
DOI
Deposit date
13 Feb 2014 07:53
Last modified
19 Feb 2014 08:58
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