We find that each of the past four generations of Americans was better off than the previous one, using a post-tax, post-transfer income measure constructed annually from 1963-2022 based on the Current Population Survey Annual Social and Economic Supplement. At age 36-40, Millennials had a real...

Dynamic consistency is crucial for credible evaluation of intergenerational choice plans that inherently lack commitment. We offer a general characterization for dynamically consistent intergenerational welfare aggregation. The aggregation is characterized by envy-guilt asymmetry in discounting...

Auch wenn die Auswirkungen des demografischen Wandels auf die Sozialversicherungen bisher nur leicht spürbar sind, zeichnet sich das Ende der Schonfrist ab. Der Fachkräftemangel auf dem Arbeitsmarkt verschärft sich spürbar und die politische Diskussion über Maßnahmen zur Anwerbung von...

A large body of literature shows that first-generation immigrants born in developing countries experience a higher likelihood of being overeducated than natives (i.e. immigrant overeducation). However, evidence is remarkably scarce when it comes to the overeducation of second-generation...

A key measure of equality of opportunity is intergenerational mobility. Of particular interest is the extent to which children of immigrants catch up with natives. Using administrative data for the Netherlands, we find large gaps in the absolute income mobility of immigrants relative to natives...