Consumption and Income Persistence across Generations

Hamish Low, Aruni Mitra and Giovanni Gallipoli ()

No 1215, 2017 Meeting Papers from Society for Economic Dynamics

Abstract: We examine the persistence of economic outcomes within families. First, we link parents and children in U.S. longitudinal data and document the cross-generational association in both incomes and ex- penditures. Next, we develop a richer model of intra-family persistence and derive a set of theoretical moment restrictions. This allows us to identify and estimate key parameters describing how different shocks influence long-term economic outcomes. We use these estimates to quantify the contribution of parental factors to the observed dispersion of income and consumption among adult children.

Date: 2017
New Economics Papers: this item is included in nep-dge
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed017:1215

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