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Parental investments significantly impact children’s outcomes. Exploiting panel data covering individuals from birth to retirement, we estimate child skill production functions and embed them into an estimated dynastic model in which altruistic mothers and fathers make investments in their...
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We document key patterns in the flow of significant gifts and loans between friends and family in Great Britain, using …
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, like moving into homeownership, rather than providing intra-family insurance of shocks. This is particularly the case for …
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Poor families have more children and transfer less resources to them. This suggests that family decisions about … fertility, family transfers, and education. The model, estimated to the US in the 2000s, implies that a counterfactual flat …
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