Intergenerational Wealth Mobility and the Role of Inheritance: Evidence from Multiple Generations

• 成果类型: Article
• 署名作者: Adermon, Adrian; Lindahl, Mikael; Waldenstrom, Daniel
• 署名单位: Uppsala University; University of Gothenburg; Center for Economic & Policy Research (CEPR)
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12535
• 发表日期: 2018
• 页码: F482-F513
• 关键词: life-cycle; transmission; transfers; sweden; income; grandfathers; persistence; INEQUALITY; path

摘要

This study estimates intergenerational wealth correlations across up to four generations and examines the degree to which the wealth association between parents and children can be explained by inheritances. Using a Swedish data set with newly hand-collected data on wealth and bequests, we find parent-child rank correlations of 0.3-0.4 and grandparent-grandchild rank correlations of 0.1-0.2. Bequests and gifts appear to be central in this process, accounting for at least half of the parent-child wealth correlation while earnings and education can account for only a quarter.