Evidence on a causal link between family size and children’s education, as in the tradeoff suggested by Gary S. Becker between child quantity and quality, is still inconclusive. Recent empirical studies have focused heavily on China, exploiting for identification the country’s One-Child...

This paper investigates parental time investment in children prior to formal schooling as a source of intergenerational income persistence in the U.S. I develop a dynamic general equilibrium model where lifetime income endogenously persists across generations through multiple channels. My model...