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 …

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 …

In this paper we study the process of children's skill formation. The identification of this process is challenging … because children's skills are observed only through arbitrarily scaled and imperfect measures. Using a dynamic la- tent factor …. Moreover, we find that the marginal productivity of early investments is substantially higher for children with lower existing …

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 …

parents’ siblings and cousins, their spouses, and the spouses’ siblings. Using various human capital measures, we show that … extended family relative to the parents increases …

compensated through school resources. In this way, by incorporating the behavioral responses of parents, teachers and policymakers …