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Parents' Current Income, Long-term Characteristics and Children's Education: Evidence from the 1970 British Cohort

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  • Massimiliano BRATTI

    ()
    (Universit… di Milano, DEAS)

Abstract

This paper investigates the effect of parents’ current income and long-term;family characteristics on individuals’ highest educational qualification ob-tained;by age 26 using UK data from the 1970 British Cohort Study. The;issues of the possible sample selection bias produced by the not completely;random omission of current family income and that of its potential endo-geneity;are addressed, using a hot-deck multiple imputation procedure and;including an indicator of child ability, respectively. I find evidence that cur-rent;family income has a statistically significant positive impact on children’s;education, although it is one of negligible magnitude. Long-term family char-acteristics;are far more important.

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Bibliographic Info

Paper provided by Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali in its series Working Papers with number 174.

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Length: 47
Date of creation: Oct 2002
Date of revision:
Handle: RePEc:anc:wpaper:174

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Related research

Keywords: children; education; family income; hot check imputation; ordered probit;

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References

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  1. Pierre Lefebvre & Philip Merrigan, 1998. "Family Background, Family Income, Maternal Work and Child Development," Cahiers de recherche CREFE / CREFE Working Papers 78, CREFE, Université du Québec à Montréal.
  2. Lorraine Dearden & Steven McIntosh & Michal Myck & Anna Vignoles, 2000. "The Returns to Academic and Vocational Qualifications in Britain," CEE Discussion Papers 0004, Centre for the Economics of Education, LSE.
  3. Stephen V. Cameron & James J. Heckman, 2001. "The Dynamics of Educational Attainment for Black, Hispanic, and White Males," Journal of Political Economy, University of Chicago Press, vol. 109(3), pages 455-499, June.
  4. Heather E. Joshi & Andrew McCulloch, 2002. "Child development and family resources: Evidence from the second generation of the 1958 British birth cohort," Journal of Population Economics, Springer, vol. 15(2), pages 283-304.
  5. Adrian Mander & David Clayton, 1999. "HOTDECK: Stata module to impute missing values using the hotdeck method," Statistical Software Components S366901, Boston College Department of Economics, revised 02 Sep 2007.
  6. Stewart, Mark B, 1982. "On Least Squares Estimation when the Dependent Variable is Grouped," The Warwick Economics Research Paper Series (TWERPS) 207, University of Warwick, Department of Economics.
  7. Maurin, Eric, 2002. "The impact of parental income on early schooling transitions: A re-examination using data over three generations," Journal of Public Economics, Elsevier, vol. 85(3), pages 301-332, September.
  8. Griliches, Zvi, 1977. "Estimating the Returns to Schooling: Some Econometric Problems," Econometrica, Econometric Society, vol. 45(1), pages 1-22, January.
  9. Kodde, David A & Ritzen, Jozef M M, 1984. "Integrating Consumption and Investment Motives in a Neoclassical Model of Demand for Education," Kyklos, Wiley Blackwell, vol. 37(4), pages 598-608.
  10. Blau, Francine D & Grossberg, Adam J, 1992. "Maternal Labor Supply and Children's Cognitive Development," The Review of Economics and Statistics, MIT Press, vol. 74(3), pages 474-81, August.
  11. Datcher-Loury, Linda, 1988. "Effects of Mother's Home Time on Children's Schooling," The Review of Economics and Statistics, MIT Press, vol. 70(3), pages 367-73, August.
  12. Arnaud Chevalier & Gauthier Lanot, 2002. "The Relative Effect of Family Characteristics and Financial Situation on Educational Achievement," Education Economics, Taylor & Francis Journals, vol. 10(2), pages 165-181.
  13. Kodde, David A, 1986. "Uncertainty and the Demand for Education," The Review of Economics and Statistics, MIT Press, vol. 68(3), pages 460-67, August.
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  15. Rice, Patricia G, 1987. "The Demand for Post-compulsory Education in the UK and the Effects of Educational Maintenance Allowances," Economica, London School of Economics and Political Science, vol. 54(216), pages 465-75, November.
  16. Stephen V. Cameron & James J. Heckman, 1998. "Life Cycle Schooling and Dynamic Selection Bias: Models and Evidence for Five Cohorts of American Males," Journal of Political Economy, University of Chicago Press, vol. 106(2), pages 262-333, April.
  17. Colm Harmon & Hessel Oosterbeek, 2000. "The Returns to Education: A Review of Evidence, Issues and Deficiencies in the Literature," CEE Discussion Papers 0005, Centre for the Economics of Education, LSE.
  18. Shea, John, 2000. "Does parents' money matter?," Journal of Public Economics, Elsevier, vol. 77(2), pages 155-184, August.
  19. Becker, Gary S & Lewis, H Gregg, 1973. "On the Interaction between the Quantity and Quality of Children," Journal of Political Economy, University of Chicago Press, vol. 81(2), pages S279-88, Part II, .
  20. Cigno, Alessandro, 1993. "Intergenerational transfers without altruism : Family, market and state," European Journal of Political Economy, Elsevier, vol. 9(4), pages 505-518, November.
  21. Massimiliano BRATTI, 2001. "Oltre la scuola dell'obbligo. Un'analisi empirica della decisione di proseguire nell'istruzione post-obbligatoria in Italia," Working Papers 151, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
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Cited by:
  1. Renato BALDUCCI, 2005. "Public Expenditure and Economic Growth. A critical extension of Barro's (1990) model," Working Papers 240, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  2. Elvio MATTIOLI, 2003. "The measurement of coherence in the evaluation of criteria and its effects or ranking problems illustrated using a multicriteria decision method," Working Papers 199, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  3. Marcello MESSORI & Alberto ZAZZARO, 2004. "Monetary profits within the circuit: Ponzi finance oer "mors tua, vita mea"?," Working Papers 200, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  4. Nicola MATTEUCCI & Alessandro STERLACCHINI, 2003. "ICT and Employment Growth in Italian Industries," Working Papers 193, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  5. Ugo Fratesi, 2003. "Innovation Diffusion and the Evolution of Regional Disparities," ERSA conference papers ersa03p327, European Regional Science Association.
  6. Roberto ESPOSTI & Pierpaolo PIERANI, 2005. "Price, Private Demand and Optimal Provision of Public R&D in Italian Agriculture," Working Papers 238, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  7. Stefania BUSSOLETTI & Roberto ESPOSTI, 2004. "Regional Convergence, Structural Funds and the Role of Agricolture in the EU. A Panel-Data Approach," Working Papers 220, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.

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