Parenting_and_patience

Even in economics, there is a large literature now that shows mainly Hackman and coauthors' seminal work what they did on human capital, and they show that the age between zero and three are the crucial age because they're the age in which the brain is more malleable, and they can learn more quickly and in a way that stay with you for a long time. [...] And that certainly has a very strong impact on the communication, how interactive, how frequent is the interaction, and how deep is the interaction between parents and children. [...] Tim Phillips [00:05:35]: And so in this work, you're trying to capture that transmission of patience and conscientiousness and that propensity to save from the parents to teenage children. [...] But if we add the sharing behavior, the sharing behavior impacts mostly patience, because I think the reason is that patience is the most related to the financial information that the parent can share. [...] Tim Phillips [00:11:36]: Is that correlation there as well for the other two variables that we're talking about, I know you consider them not to be quite as important, but the conscientiousness, the propensity to save is there a relationship there? Daniela Del Boca [00:11:49]: The correlation between the variables parent and children is statistically strong, and not as much as patience, but it is.