ライフサイクルにおける時間選好
DP番号
DP2019-003
言語
英語のみ
発行年月
February, 2020
著者
暮石渉・Hannah Paule-Paludkiewicz ・辻山仁志・若林緑
JELコード
D01, D12, D91
キーワード
時間選好;選好の安定性;年齢;割引率時間選好;選好の安定性;年齢;割引率
ダウンロード
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要旨
We study whether and how time preferences change over the life cycle, exploiting the Japan Household Panel Survey (JHPS). In order to identify age effects, we have to disentangle them from cohort and period factors. We address this identification problem by estimating individual fixed effects models, where we substitute period effects with determinants of time preferences that depend on calendar years. We find that discount rates decrease with age and the decline is remarkably linear over the life cycle.