Like Father, Like Son: Labor Market Networks and Social Mobility
We build a model where investments in human capital depend on the state of an individual's social network. We show that correlation patterns between parents' and children's human capital investment and income depend on the structure of their social network. Heavier reliance on the social network increases the correlation of human capital investments and income across generations and decreases the efficiency of their investment decisions.
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- Anders Björklund & Markus Jäntti, 2000. "Intergenerational mobility of socio-economic status in comparative perspective," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 26, pages 3-32.
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- Datcher, Linda P, 1982. "Effects of Community and Family Background on Achievement," The Review of Economics and Statistics, MIT Press, vol. 64(1), pages 32-41, February.
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