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...

We examine whether parental and school investments reinforce or compensate for student performance. Our analysis exploits school-starting-age rules in 34 countries, capturing achievement variation that arises because younger children typically underperform their older peers. Parents respond to...

Children who grow up in more highly educated families have better labor market outcomes as adults than those who grow up in less educated families, but we do not know whether this is because education bestows parents with skills that make them better parents or because unobservable endowments...