Time Preference and Long-Run Growth: the Role of Patience Capital

被引：0
|
作者：
Kawagishi, Taketo [1 ]
Mino, Kazuo [2 ]
机构：
[1] Kyoto Univ, Grad Sch Econ, Kyoto 6068501, Japan
[2] Kyoto Univ, Inst Econ Res, Kyoto 6068501, Japan
来源：
ECONOMICS BULLETIN | 2012年 / 32卷 / 04期
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D O I：
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中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper studies the relation between long-term economic growth and time preference of households in the context of a simple model of endogenous growth. We assume that the rate of time preference depends on the level of household's patience (stock of patience capital). It is assumed that the patience capital is accumulated by household's future-oriented investment and decumulated by consumption activities. The paper focuses on how the level of patience capital is determined in the balanced-growth equilibrium.
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页码：3243 / 3249
页数：7
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