Based on brother correlations in permanent earnings for different groups of second generation immigrants, the findings in this paper indicate that cultural background is not a major determinant of the level of intergenerational economic mobility.

Based on brother correlations in permanent earnings for different groups of second generation immigrants, the findings in this paper indicate that cultural background is not a major determinant of the level of intergenerational economic mobility.

This paper introduces a simple model to estimate the dynamic adjustment of subjective well-being that results from an updating of expectations in response to changing circumstances. Empirical evidence indicates that adjustment takes place within a relatively short window of time.