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In this paper, I present some popular measures of mobility in economic outcomes within a family across generations. I also discuss two of the most important factors preventing intergenerational mobility: existence of financially constrained individuals and transmission of tastes from parents to...
Persistent link: https://www.econbiz.de/10011657530
The influential economic theory of intergenerational transfers predicts a negative connection between credit constraints … credit markets when investing in his children's human capital. Yet measurement error in bequest receipt generates … misclassification error and thus attenuation bias. Employing switching regressions with imperfect sample separation to deal with this …
Persistent link: https://www.econbiz.de/10013028224
Recent research indicates that, across three key measures, economic mobility in the United States is limited. Specifically, the Millennial generation (those born between 1982 and 2000) might not have the same opportunity as previous generations had to fare better economically than their parents....
Persistent link: https://www.econbiz.de/10014101993
intention. This paper makes a novel contribution to the literature on financial psychology by proposing a generational theory of … behavioral biases among a key investor segment. The generational theory of behavioral biases enables investment managers to …
Persistent link: https://www.econbiz.de/10014383421
on experiments with over 2,000 members of 610 families, we find that parents anticipate their children's present bias and … own present bias, but molding their children's preferences towards more time-consistent choices. …
Persistent link: https://www.econbiz.de/10012418434
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Using COVID-19 as a sudden negative mobility shock in consumption accessibility, we show that the ability to shift to online consumption as an alternative to physical visits to brick-and-mortar stores disproportionately benefits younger people. Employing credit card transaction data linked to...
Persistent link: https://www.econbiz.de/10014358142