TY  - UNPD
A1  - Kureishi, Wataru
A1  - Paule-Paludkiewicz, Hannah
A1  - Tsujiyama, Hitoshi
A1  - Wakabayashi, Midori
T1  - Time preferences over the life cycle
T2  - SAFE working paper series ; No. 267
N2  - We study whether and how time preferences change over the life cycle, exploiting representative long-term panel data. We estimate the age patterns of discount rates from age 25 to 80. 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.
T3  - SAFE working paper - 267 
KW  - Time Preferences
KW  - Preference Stability
KW  - Age
KW  - Discount Rates
Y1  - 2020
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/53196
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-531966
UR  - https://ssrn.com/abstract=3547301
IS  - February 2020
PB  - SAFE
CY  - Frankfurt am Main
ER  -