Intergenerational wealth mobility and the role of inheritance: Evidence from multiple generations
Mikael Lindahl () and
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Daniel Waldenström: Paris School of Economics and Research Institute of Industrial Economics (IFN), CEPR, IZA, UCLS and UCFS
No 670, Working Papers in Economics from University of Gothenburg, Department of Economics
This study estimates intergenerational correlations in mid-life wealth across three generations, and a young fourth generation, and examines how much of the parent-child association that can be explained by inheritances. Using a Swedish data set we find parent-child rank correlations of 0.3–0.4 and grandparents- grandchild rank correlations of 0.1–0.2. Conditional on parents’ wealth, grandparents’ wealth is weakly positively associated with grandchild’s wealth and the parent-child correlation is basically unchanged if we control for grandparents’ wealth. Bequests and gifts strikingly account for at least 50 per cent of the parent-child wealth correlation while earnings and education are only able to explain 25 per cent.
Keywords: multigenerational mobility; bequests; mid-life wealth (search for similar items in EconPapers)
JEL-codes: D31 J62 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dem
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Journal Article: Intergenerational Wealth Mobility and the Role of Inheritance: Evidence from Multiple Generations (2018)
Working Paper: Intergenerational wealth mobility and the role of inheritance: Evidence from multiple generations (2018)
Working Paper: Intergenerational wealth mobility and the role of inheritance: Evidence from multiple generations (2016)
Working Paper: Intergenerational Wealth Mobility and the Role of Inheritance: Evidence from Multiple Generations (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:gunwpe:0670
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