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In an overlapping generations model with two social classes, rich and poor, parents of the different social classes vote on two issues: redistributive policies for them and education investments for their kids. Public education is the engine for growth through its effect on human capital; but it...
Persistent link: https://www.econbiz.de/10010264081
The role of money in producing sustained subjective well-being seems to be seriously compromised by social comparisons and habituation. But does that necessarily mean that we would be better off doing something else instead? This paper suggests that the phenomena of comparison and habituation...
Persistent link: https://www.econbiz.de/10010280689
The paper studies the determinants of income distribution and growth in an overlapping generations economy ….Heterogeneity in income results from the distribution of human capital acrossindividuals in a non-degenerate way. The human capital …. First, we explore the effects oftechnological change in human capital formation, upon the distribution of income at each …
Persistent link: https://www.econbiz.de/10010324875
The usual models of endogenous growth treat knowledge codification as a byproduct of R&D and as costless. In contrast to this, one can observe great efforts of private firms for the purposeful codification of knowledge. We incorporate costly knowledge codification in an overlapping generations...
Persistent link: https://www.econbiz.de/10011753129
Classified broadly, two motives for intra-family transfers exist: altruism and selfishness. This paper examines two selfish hypotheses - the exchange motive (strategic bequest motive)and the demonstration effect - using a new Japanese micro data set. My analysis of the determinants of...
Persistent link: https://www.econbiz.de/10010332521
using the best available datasets. These datasets are: longitudinal income data from the Dunedin Study of the population of … proportion of variance in income or SES was explained by the economic situation of people's parents, indicating that other … explanatory variables are more important. The Dunedin Study results suggest that rates of intergenerational income mobility for …
Persistent link: https://www.econbiz.de/10012115621
We study empirically whether there is scope for parents to shape the economic preferences and attitudes of their children through purposeful investments. We exploit information on the risk and trust attitudes of parents and their children, as well as rich information about parental efforts in...
Persistent link: https://www.econbiz.de/10010319444
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...
Persistent link: https://www.econbiz.de/10014480401
. Theory implies the relationship between earnings of fathers and sons could be nonlinear, especially at the tails of the …
Persistent link: https://www.econbiz.de/10010377505
, for the intergenerational association in education and income. We find that both pre- and post-birth factors contribute to …'s income. We also find some evidence for a positive interaction effect between post-birth environment and pre-birth factors. …
Persistent link: https://www.econbiz.de/10010267473