A relação intertemporal entre educação e consumo: os consumidores mais escolarizados são mais pacientes?

Detalhes bibliográficos
Ano de defesa: 2011
Autor(a) principal: Alan Andre Borges da Costa
Orientador(a): Não Informado pela instituição
Banca de defesa: Não Informado pela instituição
Tipo de documento: Dissertação
Tipo de acesso: Acesso aberto
Idioma: por
Instituição de defesa: Universidade Federal de Minas Gerais
UFMG
Programa de Pós-Graduação: Não Informado pela instituição
Departamento: Não Informado pela instituição
País: Não Informado pela instituição
Palavras-chave em Português:
Link de acesso: http://hdl.handle.net/1843/AMSA-8FMLE3
Resumo: This work aims to evaluate the intertemporal relationship between schooling and consumption in Brazil. More specifically, we seek to investigate whether more educated consumers are more patient than the less schooling. We use a version of the model of Lawrance (1991), in which she estimates the intertemporal discount rate using U.S. microdata. The model, originally estimated by panel data, was adapted to Brazilian data. The dataset comes from the Household Survey of Familiar Budgets (POF) from the Brazilian Institute of Geography and Statistics (IBGE), for the years 2008-2009 and 2002-2003. Data were grouped into cohorts and then we estimated the Euler equation arising from the maximization problem of the consumer. The intertemporal discount rate was calculated using the results of this regression and the moments of the residuals. The results indicate that: i) both the regressions and the intertemporal rate of discount are robust to the use of different interest rates; ii) the estimated intertemporal elasticity of substitution and intertemporal discount rate are close to the values found by Lawrance (1991) and iii) the main question of this study is corroborated, i.e., cohorts located in the highest deciles of schooling have lower intertemporal discount rates.