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.
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