Human Capital and the Rise and Fall of Families

Gary Becker and Nigel Tomes

Journal of Labor Economics, 1986, vol. 4, issue 3, S1-39

Abstract: This paper develops a model of the transmission of earnings, assets, and consumption from parents to descendants. The model assumes utility-maximizing parents who are concerned about the welfare of their children. The degree of intergenerational mobility is determined by the interaction of this utility-maximizing behavior with investment and consumption opportunities in different gene rations and with different kinds of luck. The authors examine a number of empirical studies for different countries. Regression to the mean in earnings in rich countries appears to be rapid. Almost all the earnings advantages or disadvantages of ancestors are wiped out in three generations. Copyright 1986 by University of Chicago Press.

Date: 1986
References: Add references at CitEc
Citations: View citations in EconPapers (1342)

Downloads: (external link)
http://links.jstor.org/sici?sici=0734-306X%2819860 ... O%3B2-M&origin=repec full text (application/pdf)
Access to full text is restricted to subscribers. See http://www.journals.uchicago.edu/JOLE for details.

Related works:
Chapter: Human Capital and the Rise and Fall of Families (1994)
Working Paper: Human Capital and the Rise and Fall of Families
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ucp:jlabec:v:4:y:1986:i:3:p:s1-39

Access Statistics for this article

More articles in Journal of Labor Economics from University of Chicago Press
Bibliographic data for series maintained by Journals Division ().