Are Economic Values Transmitted from Parents to Children?
Abstract: Economic research shows that differences in cultural traits and values?for example, trust, or the propensity to cooperate and not free-ride on others?are important determinants of economic outcomes, such as growth, economic and financial development, and international trade. It?s much less clear, however, where these differences in economic-relevant values come from. While economists generally assume that they?re transmitted from parents to children, the empirical evidence to this effect is almost nonexistent.
JEL Classification: J00;
File(s): File format is text/html https://libertystreeteconomics.newyorkfed.org/2014/01/are-economic-values-transmitted-from-parents-to-children.html
Provider: Federal Reserve Bank of New York
Part of Series: Liberty Street Economics
Publication Date: 2014-01-06