parents and children. We find that higher levels of parents' wealth and income increase the likelihood that children attend …This paper examines the influence of parental wealth and income on children's college attendance and parental financing … of housing debt that parents hold but does not reduce student debt for children …

. The underlying causal mechanisms for such effects remain unsettled. We consider a model in which parents impose more … stringent disciplinary environments in response to their earlier-born children's poor performance in school in order to deter … such outcomes for their later-born offspring. We provide robust empirical evidence that school performance of children in …

The choice of a college major plays a critical role in determining the future earnings of college graduates. Students … survey students about what their expected earnings would be both in the major they have chosen and in counterfactual majors …. We also elicit students' subjective assessments of their abilities in chosen and counterfactual majors. We estimate a …