This paper introduces wealth-dependent time preference into a simple model of endogenous growth. The model generates … is shown how wealth-dependent time preference can explain the existence of a locally stable poverty trap as well as the … phenomenon of simultaneously falling interest rates and rising growth rates. -- economic growth ; savings ; time preference …

attainable maximin income should decrease over time. I provide a formal definition and study applications to an AK economy, a …

-form analyses and model estimations. Based on a globally representative dataset on time preference in 76 countries, we document two …

-form analyses and model estimations. Based on a globally representative dataset on time preference in 76 countries, we document two …

capital and an unproductive capital which facilitates rent-seeking. With exogenous as well as endogenous time discounting, we … discounting, there are multiple equilibria and the growth outcome depends on the size of government. With endogenous time …) discounting, there is a unique low (high) growth equilibrium, regardless of the size of government. For the intermediate range of …