Fortunate sons: New estimates of intergenerational mobility in the United States using Social Security earnings data

• 成果类型: Article
• 署名作者: Mazumder, B
• 署名单位: Federal Reserve System - USA; Federal Reserve Bank - Chicago
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/0034653053970249
• 发表日期: 2005-05
• 页码: 235-255
• 关键词: income mobility; canadian men; INEQUALITY; regression; DYNAMICS; biases; FAMILY; IMPACT

摘要

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 arc significantly lower for families with little or no wealth, offering empirical support for theoretical models that predict differences due to borrowing constraints.