Journal ArticleDOI
Fortunate Sons: New Estimates of Intergenerational Mobility in the United States Using Social Security Earnings Data
TLDR
This article found that intergenerational mobility is significantly lower for families with little or no wealth, offering empirical support for theoretical models that predict differences due to borrowing constraints, suggesting that the United States is substantially less mobile than previous research indicated.Abstract:
Previous studies, relying on short-term averages of fathers' earnings, have estimated the intergenerational elasticity (IGE) in earnings to be approximately 0.4. Due to persistent transitory fluctuations, these estimates have been biased down by approximately 30% or more. Using administrative data containing the earnings histories of parents and children, the IGE is estimated to be around 0.6. This suggests that the United States is substantially less mobile than previous research indicated. Estimates of intergenerational mobility are significantly lower for families with little or no wealth, offering empirical support for theoretical models that predict differences due to borrowing constraints.read more
Citations
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Journal ArticleDOI
Decomposing economic mobility transition matrices
Jeremiah Richey,Alicia Rosburg +1 more
TL;DR: In this paper, the authors decompose differences between an estimated transition matrix and a benchmark transition matrix into portions attributable to differences in characteristics between individuals from different households (a composition effect).
Journal ArticleDOI
Libertarian personal responsibility On the ethics, practice, and American politics of personal responsibility
TL;DR: While libertarians (by most accounts) affirm personal responsibility as a central moral and political value, libertarian theorists write relatively little about the theory and practice of this valu....
Journal ArticleDOI
Patterns of earnings differentials across three conservative European welfare regimes with alternative education systems
Rosalia Castellano,Gennaro Punzo +1 more
TL;DR: In this paper, the effect of human capital on individual earnings and earnings differences in Germany, France and Italy, three developed countries in Western Europe with similar conservative welfare regimes but with important differences in their education systems is investigated.
Journal ArticleDOI
Intergenerational mobility: measurement and the role of borrowing constraints and inherited tastes
TL;DR: In this article, the authors present some popular measures of mobility in economic outcomes within a family across generations, and discuss two of the most important factors preventing intergenerational mobility: existence of financially constrained individuals and transmission of tastes from parents to children.
Marital Timing and Earnings over the Life Course
TL;DR: Lee et al. as mentioned in this paper examined the economic antecedents of marital timing and the effect of marrying early, on-time, or late on individual earnings over time separately by gender.
References
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Journal ArticleDOI
An Equilibrium Theory of the Distribution of Income and Intergenerational Mobility
Gary S. Becker,Nigel Tomes +1 more
TL;DR: The theory of inequality and intergenerational mobility presented in this paper assumes that each family maximizes a utility function spanning several generations, which depends on the consumption of parents and on the quantity and quality of their children.
Posted Content
Intergenerational Income Mobility in the United States
TL;DR: For example, this article showed that the intergenerational correlation in long-run income is at least 0.4, indicating dramatically less mobility than suggested by earlier research, indicating less mobility.
Posted ContentDOI
Human Capital Policy
TL;DR: This paper showed the importance of cognitive and non-cognitive skills that are formed early in the life cycle in accounting for racial, ethnic and family background gaps in schooling and other dimensions of socioeconomic success.
Journal ArticleDOI
Least absolute deviations estimation for the censored regression model
TL;DR: In this paper, an alternative to maximum likelihood estimation of the parameters of the censored regression (or censored 'Tobit' model) is proposed, which is a generalization of least absolute deviations estimation for the standard linear model, and is also robust to heteroscedasticity.
Journal ArticleDOI
The Dynamics of Educational Attainment for Black, Hispanic, and White Males
TL;DR: The authors found that the long-run factors associated with parental background and family environment, and not credit constraints facing prospective students in the college-going years, account for most of the racial and ethnic disparities in college attendance.