Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/265805 
Year of Publication: 
2022
Series/Report no.: 
IZA Discussion Papers No. 15584
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Do individuals choose their reference groups, i.e. their Joneses, or are they culturally transmitted across generations? We provide evidence that feeds the theoretical debate about the endogeneity or exogeneity of reference groups. Our findings for Uruguay suggest that reference groups are largely transmitted across generations. We also find individuals to have multiple reference groups and these to be context-specific. Our results are robust to several checks and to endogeneity issues.
Subjects: 
intergenerational transmission
reference group
income comparisons
JEL: 
D31
D62
D63
Z13
Document Type: 
Working Paper

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