Inter-generational effect of parental time and its policy implications

Why do parents with more human capital spend more time teaching and taking care of their children, in spite of the higher opportunity cost? How does this aect inter-generational mobility and wage inequality? Does this have any implications on the policy that provides public schooling through income taxation? We develop and estimate a theoretical model to answer these questions, in the light that parental time investment is a powerful means of transmitting human capital inter-generationally.