| Human capital and the rise and fall of families. | |
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MedLine Citation:
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PMID: 12146356 Owner: PIP Status: MEDLINE |
Abstract/OtherAbstract:
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"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). |
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Authors:
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G S Becker; N Tomes |
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Publication Detail:
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Type: Journal Article |
Journal Detail:
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Title: Journal of labor economics Volume: 4 ISSN: 0734-306X ISO Abbreviation: J Labor Econ Publication Date: 1986 Jul |
Date Detail:
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Created Date: 1988-05-02 Completed Date: 1988-05-02 Revised Date: 2002-10-04 |
Medline Journal Info:
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Nlm Unique ID: 101084446 Medline TA: J Labor Econ Country: UNITED STATES |
Other Details:
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Languages: eng Pagination: 1-47 Citation Subset: J |
Copyright Information:
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excerpt |
Export Citation:
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| MeSH Terms | |
Descriptor/Qualifier:
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Behavior Decision Making Economics* Family Characteristics* Financial Management Income* Investments* Models, Economic Social Change* Socioeconomic Factors* |
From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine
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