Realism over parsimony: Why non-monetary indicators approach intergenerational mobility better than monetary ones

Pablo Garcés Velástegui ()

Revista Desarrollo y Sociedad, 2018, vol. 81, issue 4

Abstract: Intergenerational mobility has been studied from two broad perspectives, namely, monetary and non-monetary. The dominant framework by far has been the former. However, it is not evident that monetary approaches are supe¬rior to non-monetary ones. In fact, in several respects, the latter shows clear advantages over the former. Hence, this article exposes the virtues and short¬comings that they have on each of the main stages relevant to the conduct of inquiry: conceptualization, data collection, and data analysis. This scrutiny suggests that monetary methodologies privilege parsimony over realism, while non-monetary methodologies do the opposite. In this context, it is argued that moving from elegance (parsimony) to realism is required in order to account for the actual complexity of socio-economic intergenerational mobility.

Keywords: Social mobility; Social inequality; Social welfare (search for similar items in EconPapers)
JEL-codes: I31 I32 I39 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:col:000090:016595

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