My parents taught Me. Evidence on the family transmission of values

The paper uses questions included in the 2010 wave of the Bank of Italy’s Survey on Household Income and Wealth to investigate the role of family transmission of values. It presents three main empirical findings. First, the paper shows that a number of attitudes (generalized and personalized trusting behaviour, risk and time preferences) and outcomes (female labour force participation, fertility, entrepreneurship, productivity) are associated with the values received. Second, it documents that values received from parents are correlated with the values transmitted to descendants. Third, by using respondent moving patterns, the paper highlights that values received are slowly changing even after a discontinuity in the reference environment. Comparisons between first- and second-generation movers suggest that what matters for breaking the family chains are the formative years, when young people somehow strike a balance between the values transmitted by their parents and what they experience in the (possibly different) environment where they grow up.