This paper examines the idea that the increasing return to college is reducing intergenerational mobility by differentially impacting the investments in children by parents across education groups. A larger return to college will create stronger incentives to invest in children by parents with...

How does impatience affect job search? More impatient workers search less intensively and set a lower reservation wage. The effect on the exit rate from unemployment is unclear. In this paper we show that, if agents have exponential time preferences, the reservation wage effect dominates for...