Inequality in income or earnings is the most indisputable fact about the distribution of income. Inequality in income … income redistribution, and the efficacy of various policy tools, economists are also concerned with establishing how various …. Economists have constructed various theories that purport to explain income distribution. Some aspects of these theories have …

friction we investigate is related to the ownership of children. If parents have no claim on their children's income, then the …) model with fertility choice and altruism, and model ownership by introducing a minimum constraint on transfers from parents … to children. Using the efficiency concepts proposed in Golosov, Jones, and Tertilt (2007), we find that whenever the …

not work at all, time spent with children, and child-related expenditures, we find that income risk impacts skill …This paper studies the mechanisms and the extent to which parental wage risk passes through to children's skill … development. Through a quantitative dynamic labor supply model in which two parents choose whether to work short or long hours or …

This paper formulates and estimates multistage production functions for children's cognitive and noncognitive skills … investment in children compared to later remediation. We establish nonparametric identification of a general class of production … targeting of interventions to children with different parental and personal birth endowments. Substitutability decreases in …

interventions. We show that even a modest transfer of family income to families at ages 5-6 would substantially increase children …We develop a new estimator for the process of children's skill formation in which children's skills endogenously … United States, we estimate the technology of skill formation, the process of parental investments in children, and the adult …

low-income parents than existing U.S. tax policy. It also increases the probability that low-income children move up the …Empirical research suggests that parents' economic resources affect their children's future earnings abilities. Optimal …

For an economy with altruistic parents facing productivity shocks, the optimal estate taxation is progressive …: fortunate parents should face lower net returns on their inheritances. This progressivity reflects optimal mean reversion in …

Do adult children affect the care elderly parents provide each other? We develop two models in which the anticipated … behavior of adult children provides incentives for elderly parents to increase care for their disabled spouses. The …. The "punishment effect" postulates that adult children may punish parents who fail to provide spousal care by not …