The paper investigates the effects of intra-family talent transmission when human capital exhibits indivisibilities and parental financing of education involves borrowing constraints. Positive talent correlation reduces social mobility but steady state inequality and macroeconomic...

"The paper examines the structure and the extent of intergenerational income mobility in Germany. Using data from the German Socio-economic Panel it is possible to look at both, father-son and father-daughter pairs. In the present case the intergenerational income elasticity is 0.26 for...

"The paper examines the structure and the extent of intergenerational income mobility in Germany. Using data from the German Socio-economic Panel it is possible to look at both, father-son and father-daughter pairs. In the present case the intergenerational income elasticity is 0.26 for...

Recent literature agrees that the degree of intergenerational mobility substantially differs across European countries, ranked between the “mobile” Nordic countries and the “immobile” Anglo-Saxon and Southern ones. In this paper we will compare the intergenerational transmission of...

This paper provides a novel glance on the relationship between family background and earnings applying a synthetic index of social mobility built on distributions of parental and offspring occupational statuses. Using the EU-SILC dataset for 8 countries, our analysis shows that country...

While inequality of opportunity (IOp) in earnings is well studied, the literature on IOp in individual net wealth is scarce to non-existent. This is problematic because both theoretical and empirical evidence show that the position in the wealth and income distribution can significantly diverge....

Das vorliegende Discussion Paper untersucht die Struktur und das Ausmaß der intergenerationalen Einkommensmobilität in Deutschland. Anhand der Daten des deutschen sozioökonomischen Panels ist es möglich, sowohl Vater-Sohn als auch Vater-Tochter Paare zu untersuchen. In einem ersten Schritt...

In this paper, we revisit the association between happiness and inequality. We argue that the perceived fairness of the income generation process affects this association. Building on a two-period model of individual life-time utility maximization, we predict that persons with higher perceived...

A strong association between incomes across generations—with children from poor families likely to be poor as adults—is frequently considered an indicator of insufficient equality of opportunity. Studies of such “intergenerational persistence,” or lack of intergenerational mobility, are...

In this paper, we revisit the association between happiness and inequality. We argue that the perceived fairness of the income generation process affects this association. Building on a two-period model of individual life-time utility maximization, we predict that persons with higher perceived...