Parental time investment and intergenerational mobility

Yum, Minchul

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URN: urn:nbn:de:bsz:180-madoc-405793
Document Type: Working paper
Year of publication: 2016
The title of a journal, publication series: Working Paper Series
Volume: 16-06
Place of publication: Mannheim
Publication language: English
Institution: School of Law and Economics > Quantitative Makroökonomik (Juniorprofessur) (Yum 2015-2022)
MADOC publication series: Department of Economics > Working Paper Series
Subject: 330 Economics
Classification: JEL: E24 , I24 , J22,
Keywords (English): parental time , human capital investment , intergenerational persistence , college education
Abstract: 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 replicates a series of important untargeted aspects of the data including the U.S. income quintile transition matrix. I find that the parental time investment channel accounts for nearly 40 percent of the observed intergenerational income persistence. Policy experiments suggest that e¤ective ways of improving mobility should focus on narrowing discrepancies in the quantity and quality of parental time investments.

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