U.S. policy changes and more optimistic fiscal forecasts have significantly improved the long-term fiscal prospects of the country. Nevertheless, these prospects remain dismal. Unless U.S. fiscal policy changes by a lot and very soon, our descendants will face rates of lifetime net taxation that...

A large empirical literature on intergenerational educational mobility measures relative mobility by the slope of a conditional expectation function (CEF) relating children's education to parental education. Three measures are widely used: intergenerational regression coefficient (IGRC) with...

If the present generation refuses to bear the burden of mitigating global heating, could we motivate sufficient action by shifting that burden to our descendants? Several writers have proposed breaking the political impasse by funding mitigation through public debt. Critics attack such proposals...

The estimated values to society from long-term public projects, including climate change mitigation and infrastructure construction, are highly sensitive to the social discount rate (SDR) employed. Governmental guidance on social discounting has predominantly been based on input from expert...

What drives long-term mental health and its intergenerational correlation? Exploiting variation in unemployment rates upon labor market entry across Australian states and cohorts, we provide novel evidence of persistent effects on mental health two decades after labor market entry. We find that...

Over the past decade, there have been a growing number of studies that examined the association between social mobility and health, paying more attention to variations in social position over the life course. However, few studies investigated the extent of social mobility and its association...

Immigrants’ higher responsiveness to regional differences in labor market conditions has long been recognized as a potentially important adjustment mechanism to labor market shocks such as the European debt crisis from 2010 onwards. Using household- level data for the Euro Area from 2007 to...

This paper studies intergenerational mobility the transmission of family influence. We develop and estimate measures of lifetime resources (income and wealth) motivated by economic theory that account for generational differences in life-cycle trajectories, uncertainty, and credit constraints....

This paper studies intergenerational mobility—the transmission of family influence. We develop and estimate measures of lifetime resources (income and wealth) motivated by economic theory that account for generational differences in life-cycle trajectories, uncertainty, and credit constraints....

Grandparents act as the third largest caregiver after parental care and daycare in Germany, as in many Western societies. Adopting a double-generation perspective, we investigate the causal impact of this care mode on children’s health, socio-emotional behavior, and school outcomes, as well as...