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Strong intergenerational associations in wealth have fueled a longstanding debate over why children of wealthy parents …'s accumulation of wealth and investor behavior as adults, even when removing the genetic connection between children and the parents … tend to be well off themselves. We investigate the role of family background in determining children's wealth accumulation …
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This paper examines the way immigrant earnings are determined in Australia. It uses the overeducation/required education/undereducation (ORU) framework (Hartog, 2000) and a decomposition of the native-born/foreign-born differential in the payoff to schooling developed by Chiswick and Miller...
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Why do individuals choose different types of post-secondary education, and what are the labor market consequences of those choices? We show that answering these questions is difficult because individuals choose between several unordered alternatives. Even with a valid instrument for every type...
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