Why Do Wealthy Parents Have Wealthy Children?
成果类型：
Article
署名作者：
Fagereng, Andreas; Mogstad, Magne; Ronning, Marte
署名单位：
BI Norwegian Business School; University of Chicago; Statistics Norway
刊物名称：
JOURNAL OF POLITICAL ECONOMY
ISSN/ISSBN：
0022-3808
DOI：
10.1086/712446
发表日期：
2021
页码：
703-756
关键词：
摘要：
We show that family background matters significantly for children's accumulation of wealth and investor behavior as adults, even when removing the genetic connection between children and the parents raising them. The analysis is made possible by linking Korean-born children who were adopted at infancy by Norwegian parents to a population panel data set with detailed information on wealth and socioeconomic characteristics. The mechanism by which these Korean-Norwegian adoptees were assigned to adoptive families is known and effectively random. This mechanism allows us to estimate the causal effects from an adoptee being raised in one type of family versus another.