This paper examines the determinants of inter vivos (lifetime) transfers of ownership in German family firms between 2000 and 2013. Survey evidence indicates that owners of larger firms, and firms with strong current business conditions, transfer ownership at higher rates than others. When a...

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...

It is well known that a substantial part of income and education is passed on from parents to children, generating substantial persistence in socio-economic status across generations. In this paper, we examine whether another form of human capital, health, is also largely transmitted from...

The environment for business creation is central to economic policy, as entrepreneurs are believed to be forces of innovation, employment and economic dynamism. We use data from the National Longitudinal Surveys (NLS) to investigate the relative importance of financial and human capital...

Using 2004-2008 data from the American Time Use Survey, we show that sharp differences between the time use of immigrants and natives become noticeable when activities are distinguished by incidence and intensity. We develop a theory of the process of assimilation--what immigrants do with their...

The United States is among the most individualistic societies in the world. However, unlike Western European individualism, which is imbued with moral universalism, America's "rugged individualism" is instead particularistic. We link this distinctive cultural configuration to the country's...