Parental transfers towards the education of children are non-trivial, especially in countries, characterized by both imperfect credit markets and high economic growth rates. In this paper, we analyze the role of parental altruism on economic growth and dynamic efficiency, especially when credit...

In a recent article Pfleiderer (2020) argues that models should be put through a 'reality filter' before they should be taken seriously as a basis for empirical testing or policy analysis. He regards models that make dubious assumptions as 'chameleons', because while as theory they may give...