This paper analyzes the intergenerational mobility of immigrants. Using the 1940-1970 Censuses, the study reveals an important link between the earnings of immigrants and the earnings of their American-born children. Although there is some regression towards the mean, the earnings of...

Research on intergenerational transmission of wealth has pointed to uncertainty -- about the date of one's own death, for example -- as a potential source of significant bequest flows. In this paper I examine the effects of this same uncertainty on the behavior of those who expect to receive...

In this chapter, I review empirical and theoretical literature on taxation of intergenerational transfers (estates, bequests, inheritances, inter vivos gifts) and wealth. The main message may be summarized as follows. Empirical evidence on bequest motivations and responses to estate taxation is...

Federal estate taxes give very wealthy families incentives to transfer resources directly to distant generations in order to avoid taxes on successive rounds of transfers. Until recently such transfers were impeded by the rule against perpetuities, which prevented transfers to most potential...

Each year parents transfer a great deal of money to their adult children. While intuition might suggest that these transfers are altruistic and made out of concern for the well-being of the children, empirical tests of the model have consistently yielded negative results. However, an important...

We use 1940 Census data to study the intergenerational transmission of human capital for children born in the 1920s and educated during an era of expanding but unequally distributed public school resources. Looking at the gains in educational attainment between parents and children, we document...

We link tax returns across two generations to provide the first estimate of intergenerational mobility in Italy based on administrative income data. Italy emerges as less immobile than previously depicted by studies using proxies for economic status or survey data with imputation procedures....

We examine intergenerational mobility (IM) in educational attainment in Africa since independence using census data. First, we map IM across 27 countries and more than 2,800 regions, documenting wide cross-country and especially within-country heterogeneity. Inertia looms large as differences in...

The value of pension promises already made by US state governments will grow to approximately $7.9 trillion in 15 years. We study investment strategies of state pension plans and estimate the distribution of future funding outcomes. We conservatively predict a 50% chance of aggregate...

In all societies intergenerational transfers are large and have an important influence on inequality and growth. The development of each generation of youth depends on the resources that it receives from productive members of society for health, education, and sustenance. The well-being of the...