Social Mobility: The Barro-Becker Children Meet the Laitner-Loury Dynasties
I compare the predictions of two types of dynastic models for the persistence of wealth across generations: models that focus on uninsurable risk and intergenerational consumption smoothing but abstract from the fertility decision, such as Loury and Laitner, and models without risk that focus on the...
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1999
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| 100 | 1 | |a Alvarez, F. | |
| 245 | 1 | 0 | |a Social Mobility: The Barro-Becker Children Meet the Laitner-Loury Dynasties |
| 260 | |c 1999 | ||
| 270 | 1 | 0 | |m Alvarez, F.; University of Chicago, Chicago, IL 60637, United States; email: f-alvarez1@uchicago.edu |
| 506 | |2 openaire |e Política editorial | ||
| 504 | |a Aghion, P., Bolton, P., A Theory of Trickle-Down Growth and Development (1997) Review of Economic Studies, 64, pp. 151-172 | ||
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| 504 | |a Alvarez, F., (1994) Two Essays in the Economic Theory of Fertility, , University of Minnesota, Minneapolis | ||
| 504 | |a Alvarez, F., Stokey, N., Dynamic Programming with Homogeneous Functions (1998) Journal of Economic Theory, 82, pp. 167-189 | ||
| 504 | |a Banerjee, A.V., Newman, A.F., Occupational Choice and the Process of Development (1993) Journal of Political Economy, 101, pp. 274-298 | ||
| 504 | |a Barro, R.J., Becker, G.S., Fertility Choice in a Model of Economic Growth (1989) Econometrica, 57, pp. 481-501 | ||
| 504 | |a Becker, G.S., Barro, R.J., A Reformulation of the Economic Theory of Fertility (1988) Quarterly Journal of Economics, 103, pp. 1-25 | ||
| 504 | |a Becker, G.S., Lewis, H.G., On the Interaction between the Quantity and Quality of Children (1973) Journal of Political Economy, 2, pp. 279-288 | ||
| 504 | |a Becker, G.S., Tomes, N., Human Capital and the Rise and Fall of Families (1986) Journal of Labor Economics, 4, pp. 2-539 | ||
| 504 | |a Behrman, J., Taubman, P., Intergenerational Earnings Mobility in the United States: Some Estimates and a Test of Becker's Integenerational Endowment Model (1984) The Review of Economics and Statistics, pp. 145-151 | ||
| 504 | |a Benhabib, J., Nishimura, K., Endogenous Fertility and Growth (1993) General Equilibrium, Growth, and Trade II, the Legacy of Lionel McKenzie, , San Diego: Academic Press | ||
| 504 | |a Boldrin, M., Montrucchio, L., On the Indeterminancy of Capital Accumulation Paths (1986) Journal of Economic Theory, 40, pp. 26-39 | ||
| 504 | |a Escolano, J., (1991) Social Mobility and Random Altruism, , University of Minnesota, Minneapolis | ||
| 504 | |a Farmer, R., RINCE Preferences (1990) Quarterly Journal of Economics, 55, pp. 43-60 | ||
| 504 | |a Heckman, J.J., Walker, J.R., Economic Models of Fertility Dynamics: A Study of Swedish Fertility (1991) Research in Population Economics, 7, pp. 3-91. , A Research Annual T. Schultz. Greenwich: JAI Press | ||
| 504 | |a Laitner, J., Random Earnings Differences, Lifetime Liquidity Constraints, and Altruistic Intergenerational Transfers (1992) Journal of Economic Theory, 58, pp. 135-170 | ||
| 504 | |a Loury, G.C., Intergenerational Transfers and the Distribution of Earnings (1981) Econometrica, 49, pp. 843-867 | ||
| 504 | |a Lucas R.E., Jr., On Efficiency and Distribution (1992) The Economic Journal, 102, pp. 233-247 | ||
| 504 | |a Olsen, R.J., Fertility and the Size of the U.S. Labor Force (1994) Journal of Economic Literature, 32, pp. 60-100 | ||
| 504 | |a Rosenzweig, M.R., Population Growth and Human Capital Investment: Theory and Evidence (1990) Journal of Political Economy, 98, pp. 38-70 | ||
| 504 | |a Rosenzweig, M.R., Evenson, R.E., Fertility, Schooling, and Contribution of Children in Rural India: An Econometric Analysis (1977) Econometrica, 45, pp. 1065-1079 | ||
| 504 | |a Rosenzweig, M.R., Schultz, T.P., Estimating a Household Production Function: Heterogeneity, the Demand for Health Inputs, and Their Effects on Birth Weight (1983) Journal of Political Economy, 91, pp. 723-746 | ||
| 504 | |a Stokey, N., (1996) Shirtsleeves to Shirtsleeves: The Economics of Social Mobility | ||
| 504 | |a Tomes, N., The Family, Inheritance, and the Intergenerational Transmission of Inequality (1981) Journal of Political Economy, 89, pp. 929-958 | ||
| 504 | |a Weil, P., Nonexpected Utility in Macroeconomics (1990) Quarterly Journal of Economics, 55, pp. 29-41 | ||
| 504 | |a Wolpin, K.I., An Estimable Dynamic Stochastic Model of Fertility and Child Mortality (1984) Journal of Political Economy, 92, pp. 852-874 | ||
| 520 | 3 | |a I compare the predictions of two types of dynastic models for the persistence of wealth across generations: models that focus on uninsurable risk and intergenerational consumption smoothing but abstract from the fertility decision, such as Loury and Laitner, and models without risk that focus on the fertility decision, such as Becker and Barro. I show that when both uninsurable risk and fertility decisions are present, a striking result obtains: wealthier parents have more children, but the transfer to each child is independent of wealth. Since this result is counterfactual, I also discuss extensions that can resurrect persistence.Journal of Economic LiteratureClassification Numbers: C61, D31, D1, J13 © 1999 Academic Press. |l eng | |
| 593 | |a University of Chicago, Chicago, IL 60637, United States | ||
| 593 | |a Universidad Torcuato Di Tella, Buenos Aires, 1428, Argentina | ||
| 690 | 1 | 0 | |a BEQUEST |
| 690 | 1 | 0 | |a DYNAMIC PROGRAMMING |
| 690 | 1 | 0 | |a FERTILITY |
| 690 | 1 | 0 | |a INTERGENERATIONAL TRANSFERS |
| 690 | 1 | 0 | |a PERSISTENCE |
| 773 | 0 | |d 1999 |g v. 2 |h pp. 65-103 |k n. 1 |p Rev. Econ. Dyn. |x 10942025 |t Review of Economic Dynamics | |
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| 856 | 4 | 0 | |u https://doi.org/10.1006/redy.1998.0052 |y DOI |
| 856 | 4 | 0 | |u https://hdl.handle.net/20.500.12110/paper_10942025_v2_n1_p65_Alvarez |y Handle |
| 856 | 4 | 0 | |u https://bibliotecadigital.exactas.uba.ar/collection/paper/document/paper_10942025_v2_n1_p65_Alvarez |y Registro en la Biblioteca Digital |
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| 999 | |c 80633 | ||