One would expect that family income is an important positive factor in the school attainment of children. However … unobserved parental ability. In the end, family income still has a significant effect, which must therefore be causative. It … implies that high-ability children in low-income families face binding credit constraints that society may wish to relieve. …

One would expect that family income is an important positive factor in the school attainment of children. However … unobserved parental ability. In the end, family income still has a significant effect, which must therefore be causative. It … implies that high-ability children in low-income families face binding credit constraints that society may wish to relieve. …

particular, this means that we do not know how intergenerational mobility is correlated with growth, income or the degree of … the income of an individual, the more important is her background in determining her outcomes; and thus, the less mobility … there is. The reason is that surnames provide information about family relationships because the distribution of surnames is …

. The present value of human capital is determined by all future income flows, which at the same time constitute the … individual as well as the total tax base of a nation. Therefore, the income of the productive population determines the total tax … well as the future gross income flows. The costs of public goods and the transfer expenditures have to be financed from the …

, the age profile of the insurance coefficient is sharply increasing, whereas BPP find no clear age slope in their estimate … estimator of the true insurance coefficient has, in general, a downward bias that grows as borrowing limits become tighter …