This paper investigates the impact of borrowing constraints on welfare in a standard overlapping-generations model where parental altruism results in transfers. I find that the average level of welfare is higher when children cannot borrow against future income. As Bernheim (1989) showed, the...

This paper develops a model where income inequality and intergenerational mobility are jointly determined via redistributive politics. The model includes two key factors: accessibility of tertiary education for poor-born agents and multiple self-fulfilling expectations of agents. Given these...

Private pension provision faces the challenging task of providing stable income streams during retirement. The challenge has increased markedly in the last decades due to volatile financial markets, falling interest rates and the withdrawal of employers and external insurers as risk bearers of...

The literature on parent-child correlations in socioeconomic status provides little evidence on long-term multigenerational dynamics. This is because most studies of intergenerational status persistence are based on two (at most three) successive generations. Our analysis adds to the...

Despite the widespread interest in the topic and a vast international literature, very little is known about the development of intergenerational mobility in Switzerland. Based on a new harmonized database for Switzerland (comprising various surveys such as different waves of the ISSP, EVS, and...

There is currently a debate in policy circles about access to "the upper echelons of power" (Sir John Major, ex Prime Minister, 2013). This research seeks to understand the relationship between family background and early access to top occupations. We find that privately educated graduates are a...

This paper analyses the role of family risk attitudes in intergenerational mobility in incomes and education. Based on 1984-2009 data of sons and fathers from the German Socio-Economic Panel Survey, there is evidence suggesting that sons with risk taking fathers have a significantly higher...

This paper investigates the role of intergenerational social mobility in completed fertility of women born between 1948 and 1972 in Poland. It examines the hypothesis of acculturation, which implies that fertility of the mobiles will be in between that seen in their parents’ (origin) and their...

The objective of this paper is to make a description of the economic perspective of young people in Italy. To do this we will analyze two important problems. First of all we analyze the level of public debt and the meaning of this for the present young generations as well for the future...