We offer direct statistical evidence of existing differences in time preference across income classes and countries by estimating testing an Euler equation for consumption on series data six European five quantiles. unequivocally reject the hypothesis homogeneous countries, whereas heterogeneity is confirmed to different degrees depending country, but with being lowest last two quantiles distri...

AbstractThe paper examines the causal effect of education on time preference. To define our measure preference, we use responses to hypothetical questions involving intertemporal trade-offs...