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Wealth is highly correlated between parents and their children; however, little is known about the extent to which … these relationships are genetic or determined by environmental factors. We use administrative data on the net wealth of a … relationship between the wealth of adopted and biological parents and that of the adopted child, we find that, even prior to any …
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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...
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