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Life-Cycle Variations in the Association between Current and Lifetime Income: Replication and Extension for Sweden

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Author Info
Anders Bohlmark (Swedish Institute for Social Research, Stockholm University)
Matthew J. Lindquist (Swedish Institute for Social Research, Stockholm University)

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Abstract

We apply Haider and Solon's generalized errors-in-variables model to Swedish income tax data to produce estimates of the association between current and lifetime income. Our estimates demonstrate strong life-cycle patterns. This implies that the widespread use of current income as a proxy for lifetime income leads to inconsistent parameter estimates (i.e., life-cycle bias) even when the proxy is used as the dependent variable. Estimates for comparable cohorts of Swedish and American men demonstrate surprising similarities. There are, however, significant gender and cohort differences in this association that lead to statistically significant and quantitatively meaningful differences in life-cycle biases.

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File URL: http://www.journals.uchicago.edu/cgi-bin/resolve?JOLE240406
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Publisher Info
Article provided by University of Chicago Press in its journal Journal of Labor Economics.

Volume (Year): 24 (2006)
Issue (Month): 4 (October)
Pages: 879-900
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ucp:jlabec:v:24:y:2006:i:4:p:879-900

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  1. Björklund, Anders & Roine, Jesper & Waldenström, Daniel, 2008. "Intergenerational Top Income Mobility in Sweden: A Combination of Equal Opportunity and Capitalistic Dynasties," IZA Discussion Papers 3801, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  2. Nilsson, J Peter, 2008. "Does a pint a day affect your child’s pay? The effect of prenatal alcohol exposure on adult outcomes," Working Paper Series 2008:4, IFAU - Institute for Labour Market Policy Evaluation. [Downloadable!]
    Other versions:
  3. repec:bep:eapadv:v:7:y:2007:i:2:p:1753-1753 is not listed on IDEAS
  4. repec:bep:eapcon:v:7:y:2008:i:2:p:1755-1755 is not listed on IDEAS
  5. repec:bep:eapcon:v:7:y:2007:i:2:p:1782-1782 is not listed on IDEAS
  6. Anders Björklund & Markus Jäntti & Gary Solon, 2007. "Nature and Nurture in the Intergenerational Transmission of Socioeconomic Status: Evidence from Swedish Children and Their Biological and Rearing Parents," IZA Discussion Papers 2665, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  7. Holmlund, Helena, 2006. "Intergenerational Mobility and Assortative Mating. Effects of an Educational Reform," Working Paper Series 4/2006, Swedish Institute for Social Research. [Downloadable!]
  8. Anders Björklund & Markus Jäntti & Matthew J. Lindquist, 2007. "Family Background and Income during the Rise of the Welfare State: Brother Correlations in Income for Swedish Men Born 1932-1968," IZA Discussion Papers 3000, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  9. Schnitzlein, Daniel, 2008. "Verbunden über Generationen: Struktur und Ausmaß der intergenerationalen Einkommensmobilität in Deutschland (Structure and extent of intergenerational income mobility in Germany)," IAB Discussion Paper 200801, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]. [Downloadable!]
  10. Daniel D. Schnitzlein, 2008. "Verbunden über Generationen: Struktur und Ausmaß der intergenerationalen Einkommensmobilität in Deutschland," SOEPpapers 80, DIW Berlin, The German Socio-Economic Panel (SOEP). [Downloadable!]
  11. Oddbjørn Raaum & Bernt Bratsberg & Knut Røed & Eva Österbacka & Tor Eriksson & Markus Jäntti & Robin Naylor, 2007. "Marital Sorting, Household Labor Supply, and Intergenerational Earnings Mobility across Countries," IZA Discussion Papers 3037, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  12. Nilsen, Øivind Anti & Vaage, Kjell & Aakvik, Arild & Jacobsen, Karl, 2008. "Estimates of Intergenerational Elasticities Based on Lifetime Earnings," IZA Discussion Papers 3709, Institute for the Study of Labor (IZA). [Downloadable!]
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