Intergenerational mobility, sibling inequality and borrowing constraints
This paper uncovers differences in social mobility between rich and poor families. The paper shows, in particular, that borrowing constraints retard social mobility among the poor by preventing poor parents from investing optimally in the their children's human capital. This evidence contradicts several recent studies that argue that innate ability is the overriding determinant of socioeconomic success in the United States. The paper also shows that siblings' inequality seems to be independent of family wealth, which clearly contradicts the predictions of most economic models of resource allocation within the family
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1, Boston University - Department of Economics.
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- Wilhelm, M.O., 1991. "Heterogeneous Requests and Inequality," Papers 2-91-1, Pennsylvania State - Department of Economics.
- repec:att:wimass:9329 is not listed on IDEAS
- Solon, Gary, 1992. "Intergenerational Income Mobility in the United States," American Economic Review, American Economic Association, vol. 82(3), pages 393-408, June.
- Zimmerman, David J, 1992. "Regression toward Mediocrity in Economic Stature," American Economic Review, American Economic Association, vol. 82(3), pages 409-29, June.
- McGarry, K & Schoeni, R-F, 1996. "Measurement and the Redistribution of Resources Within the Family," Papers 96-11, RAND - Reprint Series.
- Deaton, Angus, 1992. "Understanding Consumption," OUP Catalogue, Oxford University Press, number 9780198288244, March.
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