[...]The main conclusion from this review is that thewidely held belief that American schools have failed—thatthey are performing worse today than they have in the past,that a high school degree is no longer valuable, and thatadditional resources yield no benefits in the current system—is...

While there is an extensive literature on intergenerational transmission of economic outcomes (education, health and income for example), many of the pathways through which these outcomes are transmitted are not as well understood. We address this deficit by analysing the relationship between...