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Papers on “wealth inequality intergenerational mobility”

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  1. Income Inequality, Equality of Opportunity, and Intergenerational Mobility

    M. Corak · 2013 · SSRN Electronic Journal · 1,832 cites

    Families, labor markets, and public policies all structure a child’s opportunities and determine the extent to which adult earnings are related to family background. Cross-country comparisons and the underlying trends suggest that these drivers will most likely lower the degree of intergenerational earnings mobility for the next generation of Americans coming of age in a more polarized labor market, while the substantial rise in the income shares of the top 1 percent, their access to sources of high-quality human capital investment for their children, and the intergenerational transmission of employers and wealth will imply a much higher rate of transmission of economic advantage at the very

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  4. Intergenerational Wealth Mobility and Racial Inequality

    Fabian T. Pfeffer, Alexandra A. Killewald · 2019 · Socius : sociological research for a dynamic world · 52 cites

    The black-white gap in household wealth is large and well documented. Here, we visualize how this racial wealth gap persists across generations. Animating the flow of individuals between the relative wealth position of parents and their adult children, we show that the disadvantage of black families is a consequence both of wealth inequality in prior generations and race differences in the transmission of wealth positions across generations: Black children both have less wealthy parents on average and are far more likely to be downwardly mobile in household wealth. By displaying intergenerational movements between parental and offspring wealth quintiles, we underline how intergenerational fl

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  5. How Do Inheritances Shape Wealth Inequality? Theory and Evidence from Sweden

    Arash Nekoei, D. Seim · 2021 · SSRN Electronic Journal · 45 cites

    A recent literature has found that inheritances reduce relative measures of wealth inequality. Theoretically, we show that this surprising finding stems from high intergenerational wealth mobility or low inheritance inequality. Empirically, we show that this finding is only true in the short run using Swedish administrative data and exploiting randomness in the timing of death. The inheritance effect on wealth inequality is reversed within a decade due to less wealthy heirs depleting their inherited wealth in contrast to more affluent heirs. Investigating mechanisms behind this depletion, we find that inheritances generate a roughly constant increase in annual non-labor income. 60% of this i

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  6. Intergenerational Economic Mobility and the Racial Wealth Gap

    J. Toney, C. Robertson · 2021 · AEA Papers and Proceedings · 21 cites

    A growing body of research documents the importance of wealth and the racial wealth gap in perpetuating inequality across generations. We examine the impact of wealth on child income. Our two-stage least squares regressions reveal that grandparental wealth has an important effect on the younger generation's stock, which in turn affects the younger generation's household income. We further explore the relationship between income and wealth by decomposing the child's income by race. We find that the intergroup disparity in income is mainly attributable to differences in family background. These findings indicate that wealth is an important source of income inequality.

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  7. The Intergenerational Propagation of Wealth Inequality

    Alan G. Isaac · 2014 · Metroeconomica · 7 cites

    This paper highlights the crucial role of demographic assumptions in models of the intergenerational transmission of wealth inequality. Specifically, we show that Alan Blinder's surprising predictions that bequest and mating practices can sustain but cannot cause wealth inequality are extremely fragile. We show that these predictions depend on a common and apparently minor demographic assumption: fixed sex ratios in family composition. We implement the Blinder model as an agent‐based simulation and show that without this demographic assumption such familial institutions are causative for wealth inequality, even in the long run.

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