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Parents’ Current Income, Long-Term Characteristics And Children’S Education : Evidence From The 1970 British Cohort Study

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  • Bratti, Massimiliano

    (Department of Economics, University of Warwick)

Abstract

This paper investigates the effect of parents’ current income and long-term family characteristics on individuals’ highest educational qualification obtained 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 endogeneity are addressed, using a hot-deck multiple imputation procedure and including an indicator of child ability, respectively. I find evidence that current family income has a statistically significant positive impact on children’s education, although it is one of negligible magnitude. Long-term family characteristics are far more important.

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File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/2008/twerp658.pdf
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Bibliographic Info

Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 658.

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Length: 44 pages
Date of creation: 2002
Date of revision:
Handle: RePEc:wrk:warwec:658

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Related research

Keywords: children ; education ; family income ; ordered probit ; hot-deck imputation;

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  1. Erik Plug & Wim Vijverberg, 2003. "Schooling, Family Background, and Adoption: Is It Nature or Is It Nurture?," Journal of Political Economy, University of Chicago Press, vol. 111(3), pages 611-641, June.
  2. 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.
  3. 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.
  4. Stewart, Mark B, 1983. "On Least Squares Estimation When the Dependent Variable Is Grouped," Review of Economic Studies, Wiley Blackwell, vol. 50(4), pages 737-53, October.
  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. Micklewright, John, 1989. "Choice at Sixteen," Economica, London School of Economics and Political Science, vol. 56(221), pages 25-39, February.
  7. Robert Haveman & Barbara Wolfe, 1995. "The Determinants of Children's Attainments: A Review of Methods and Findings," Journal of Economic Literature, American Economic Association, vol. 33(4), pages 1829-1878, December.
  8. Levhari, David & Weiss, Yoram, 1974. "The Effect of Risk on the Investment in Human Capital," American Economic Review, American Economic Association, vol. 64(6), pages 950-63, December.
  9. 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.
  10. 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.
  11. 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.
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