This paper estimates the extent of intergenerational income mobility in Japan among sons and daughters born between 1935 and 1975. Our estimates rely on a two-sample instrumental variables approach using representative data from the Japanese Social Strat- ification and Mobility (SSM) surveys,...

Resource misallocation can lower aggregate total factor productivity (TFP).We use microdata on manufacturing establishments to quantify the potential extent of misallocation in China and India versus the United States. We measure sizable gaps in marginal products of labor and capital across...

Any demand equation satisfying Lau’s (1982) Fundamental Theorem of Exact Aggregation and 0° homogeneity in prices and income will have a Gorman (1981) functional form for each income term. This property does not depend on symmetry or adding up. The implications of this result are illustrated...

The paper looks at the change, the level and the structure of income distribution and distribution of consumption possibilities at the individual and at the household level between the years 1979 and 2000. I also pay attention to the development of low incomes when the concept of income is...

Store loyalty is an important issue for retailers since it defines one way in which consumers are attached to stores. However, store loyalty is not unidimensional and there are different ways of measuring it. After surveying the marketing literature on how to assess ’store loyalty’, we...

This paper presents the first UK estimates of the association between parental wealth during adolescence and a range of children's outcomes in early adulthood. Parental wealth is positively associated with all outcomes examined (which include educational attainment, employment, earnings and...

The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts), despite owning sizable amounts of illiquid assets (assets that carry a transaction cost, such as housing or retirement accounts). We use survey data on household portfolios for...

We propose a new avenue for studying income comparisons effects, namely hypothetical discrete choice experiments in which respondents are presented with alternative combinations of hypothetical monthly income amounts, both for themselves and certain reference persons. With this experimental...

This paper presents the first UK estimates of the association between parental wealth during adolescence and a range of children’s outcomes in early adulthood. Parental wealth is positively associated with all outcomes examined (which include educational attainment, employment, earnings and...

What makes individuals conform or diverge after observing prosocial or selfish behavior by others? We study experimentally how social comparison (observing a peer’s behavior) interacts with identity motives for cooperation. Participants play two games. We increase the strength of the identity...