Altonji, Joseph G.; Villanueva, Ernesto - 2021
We examine how much of an extra dollar of parental lifetime resources will ultimately be passed on to adult children in … discounted values of these responses to permanent income. Our estimates imply that parents pass on between 2 and 3 cents out of … resources of adult children is through transfers and bequests and about 85 percent is through the intergenerational correlation …