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- Title
INTERGENERATIONAL MOBILITY AND SOCIAL STATUS IN A MODEL WITH HUMAN CAPITAL INVESTMENTS AND TRAIT INHERITANCE.
- Authors
Andergassen, Rainer; Nardini, Franco
- Abstract
We study a model in which parents care about the economic and social status of their offspring. The chances of an individual achieving social status depends on innate traits, that is, IQ, ability, social and cultural environment, and other price-insensitive endowments, passed on by their parents, on human capital investments and on chance events. Parents can, through human capital investments, increase the offspring's probability of climbing the social ladder, although they cannot borrow against the children's perspective earning. Consequently, income and trait heterogeneity are the determinants of unequal opportunities and of intergenerational mobility.
- Subjects
SOCIAL status; INTERGENERATIONAL mobility; HUMAN capital; CAPITAL investments; ECONOMIC status; INHERITANCE &; succession
- Publication
Macroeconomic Dynamics, 2021, Vol 25, Issue 3, p776
- ISSN
1365-1005
- Publication type
Article
- DOI
10.1017/S1365100519000427