Asset Ownership Across Generations

Ngina S. Chiteji and Frank Stafford

Economics Working Paper Archive from Levy Economics Institute

Abstract: This paper examines cross-generational connections in asset ownership. It begins by presenting a theoretical framework that develops the distinction between the intergenerational transfer of knowledge about financial assets and the direct transfer of dollars from parents to children. Its analysis of data from the Panel Study of Income Dynamics (PSID) reveals intergenerational correlations in asset ownership, and we find evidence to suggest that parental asset ownership or family-based exposure to assets affects adult childrenÕs decisions about bank account and stock ownership.

Date: 2000-09
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Persistent link: https://EconPapers.repec.org/RePEc:lev:wrkpap:wp_314

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