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

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  • Pablo Garcés Velástegui

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.

Suggested Citation

  • Pablo Garcés Velástegui, 2018. "Realism over parsimony: Why non-monetary indicators approach intergenerational mobility better than monetary ones," Revista Desarrollo y Sociedad, Universidad de los Andes,Facultad de Economía, CEDE, vol. 81(4), August.
    • Handle: RePEc:col:000090:016595
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    File URL: https://revistas.uniandes.edu.co/doi/pdf/10.13043/DYS.81.4
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    More about this item

    Keywords

    Social mobility; Social inequality; Social welfare;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other

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