This paper studies the impact of permanent and transitory shocks to income on parental investments in children. We use … panel data on family income, and an index of investments in children in time and goods, from the Children of the National … partial insurance of parental investments against permanent income shocks, but the magnitude of the estimated responses is …

We study the intergenerational effects of maternal education on children's cognitive achievement, behavioral problems … Survey of Youth 1979 (NLSY79) and their children, we can control for mother's ability and family background factors. Our … results show substantial intergenerational returns to education. For children aged 7-8, for example, our IV results indicate …

the return to schooling. Some marginal policy changes inducing students into college produce very low returns. -- Returns …