Rich Dad, Smart Dad: Decomposing the Intergenerational Transmission of Income

• 成果类型: Article
• 署名作者: Lefgren, Lars; Lindquist, Matthew J.; Sims, David
• 署名单位: Brigham Young University; Stockholm University
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/666590
• 发表日期: 2012
• 页码: 268-303
• 关键词: mobility; earnings; associations; persistence; ability; models

摘要

We construct a simple model, consistent with Becker and Tomes, that decomposes the intergenerational income elasticity into the causal effect of financial resources, the mechanistic transmission of human capital, and the role that human capital plays in the determination of fathers' permanent incomes. We show how a particular set of instrumental variables could separately identify the money and human capital transmission effects. Using data from a 35 percent sample of Swedish sons and their fathers, we show that only a minority of the intergenerational income elasticity can be plausibly attributed to the causal effect of fathers' financial resources.