Document Detail

Human capital and the rise and fall of families.
MedLine Citation:
PMID:  12146356     Owner:  PIP     Status:  MEDLINE    
"This paper develops a model of the transmission of earnings, assets, and consumption from parents to descendants. The model assumes utility-maximizing parents who are concerned about the welfare of their children. The degree of intergenerational mobility is determined by the interaction of this utility-maximizing behavior with investment and consumption opportunities in different generations and with different kinds of luck. We examine a number of empirical studies for different countries. Regression to the mean in earnings in rich countries appears to be rapid. Almost all the earnings advantages or disadvantages of ancestors are wiped out in three generations." A comment by Robert J. Willis is included (pp. 40-7).
G S Becker; N Tomes
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Publication Detail:
Type:  Journal Article    
Journal Detail:
Title:  Journal of labor economics     Volume:  4     ISSN:  0734-306X     ISO Abbreviation:  J Labor Econ     Publication Date:  1986 Jul 
Date Detail:
Created Date:  1988-05-02     Completed Date:  1988-05-02     Revised Date:  2002-10-04    
Medline Journal Info:
Nlm Unique ID:  101084446     Medline TA:  J Labor Econ     Country:  UNITED STATES    
Other Details:
Languages:  eng     Pagination:  1-47     Citation Subset:  J    
Copyright Information:
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MeSH Terms
Decision Making
Family Characteristics*
Financial Management
Models, Economic
Social Change*
Socioeconomic Factors*

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