Economics, Econometrics and Finance
8 years ago

Financial deregulation and wealth accumulation lead to lower impatience, boosting policy effectiveness.

SSRN Electronic Journal
On Impatience and Policy Effectiveness
Silvia Sgherri, Tamim Bayoumi

Paper Summary

The economy has changed due to factors like financial deregulation and better policies, leading to less impatience and longer planning horizons. A study using a model found evidence of decreased impatience among individuals. Changes in the persistence of income shocks over time affect spending habits and policy effectiveness.

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