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Income Inequality, Equality of Opportunity, and Intergenerational Mobility

  • Corak, Miles

    ()

    (University of Ottawa)

Families, labor markets, and public policies all structure a child’s opportunities and determine the extent to which adult earnings are related to family background. Cross-country comparisons and the underlying trends suggest that these drivers will most likely lower the degree of intergenerational earnings mobility for the next generation of Americans coming of age in a more polarized labor market, while the substantial rise in the income shares of the top 1 percent, their access to sources of high-quality human capital investment for their children, and the intergenerational transmission of employers and wealth will imply a much higher rate of transmission of economic advantage at the very top.

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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 7520.

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Length: 31 pages
Date of creation: Jul 2013
Date of revision:
Publication status: published in: Journal of Economic Perspectives, 2013, 27 (3), 79-102
Handle: RePEc:iza:izadps:dp7520
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  1. Linda Datcher Loury, 2006. "Some Contacts Are More Equal than Others: Informal Networks, Job Tenure, and Wages," Journal of Labor Economics, University of Chicago Press, vol. 24(2), pages 299-318, April.
  2. Miles Corak & Andrew Heisz, 1999. "The Intergenerational Earnings and Income Mobility of Canadian Men: Evidence from Longitudinal Income Tax Data," Journal of Human Resources, University of Wisconsin Press, vol. 34(3), pages 504-533.
  3. Brunori, Paolo & Ferreira, Francisco H. G. & Peragine, Vito, 2013. "Inequality of Opportunity, Income Inequality and Economic Mobility: Some International Comparisons," IZA Discussion Papers 7155, Institute for the Study of Labor (IZA).
  4. Ricardo Paes de Barros & Francisco H.G. Ferreira & Jose R. Molinas Vega & Jaime Saavedra Chanduvi, 2009. "Measuring Inequality of Opportunities in Latin America and the Caribbean," World Bank Publications, The World Bank, number 2580, November.
  5. Caroline M. Hoxby & Christopher Avery, 2012. "The Missing "One-Offs": The Hidden Supply of High-Achieving, Low Income Students," NBER Working Papers 18586, National Bureau of Economic Research, Inc.
  6. Philippe Belley & Marc Frenette & Lance Lochner, 2011. "Post-Secondary Attendance by Parental Income in the U.S. and Canada: What Role for Financial Aid Policy?," NBER Working Papers 17218, National Bureau of Economic Research, Inc.
  7. Philippe Belley & Lance Lochner, 2007. "The Changing Role of Family Income and Ability in Determining Educational Achievement," NBER Working Papers 13527, National Bureau of Economic Research, Inc.
  8. Björklund, Anders & Roine, Jesper & Waldenström, Daniel, 2012. "Intergenerational top income mobility in Sweden: Capitalist dynasties in the land of equal opportunity?," Journal of Public Economics, Elsevier, vol. 96(5), pages 474-484.
  9. Lefranc, A. & Pistolesi, Nicolas & Trannoy, Alain, 2005. "Inequality of opportunities vs inequality of outcomes: are western societies all alike?," ISER Working Paper Series 2005-15, Institute for Social and Economic Research.
  10. Thomas Lemieux, 2006. "Post-Secondary Education and Increasing Wage Inequality," NBER Working Papers 12077, National Bureau of Economic Research, Inc.
  11. Bénabou, Roland & Ok, Efe A, 1998. "Social Mobility and the Demand for Redistribution: the POUM Hypothesis," CEPR Discussion Papers 1955, C.E.P.R. Discussion Papers.
  12. Chul-In Lee & Gary Solon, 2006. "Trends in Intergenerational Income Mobility," NBER Working Papers 12007, National Bureau of Economic Research, Inc.
  13. Corak, Miles & Curtis, Lori & Phipps, Shelley, 2010. "Economic Mobility, Family Background, and the Well-Being of Children in the United States and Canada," IZA Discussion Papers 4814, Institute for the Study of Labor (IZA).
  14. Claudia Goldin & Lawrence F. Katz, 1999. "The Returns to Skill in the United States across the Twentieth Century," NBER Working Papers 7126, National Bureau of Economic Research, Inc.
  15. Gary S. Becker & Nigel Tomes, . "Human Capital and the Rise and Fall of Families," University of Chicago - Population Research Center 84-10, Chicago - Population Research Center.
  16. Eric P. Bettinger & Bridget Terry Long & Philip Oreopoulos & Lisa Sanbonmatsu, 2009. "The Role of Simplification and Information in College Decisions: Results from the H&R Block FAFSA Experiment," NBER Working Papers 15361, National Bureau of Economic Research, Inc.
  17. Dan Andrews & Andrew Leigh, 2009. "More inequality, less social mobility," Applied Economics Letters, Taylor & Francis Journals, vol. 16(15), pages 1489-1492.
  18. Daniel Aaronson & Bhashkar Mazumder, 2008. "Intergenerational Economic Mobility in the United States, 1940 to 2000," Journal of Human Resources, University of Wisconsin Press, vol. 43(1).
  19. Francisco H. G. Ferreira & Jérémie Gignoux, 2011. "The Measurement Of Inequality Of Opportunity: Theory And An Application To Latin America," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 57(4), pages 622-657, December.
  20. Sara Mclanahan, 2004. "Diverging destinies: How children are faring under the second demographic transition," Demography, Springer;Population Association of America (PAA), vol. 41(4), pages 607-627, November.
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  22. Morten Bennedsen & Kasper Meisner Nielsen & Francisco Perez-Gonzalez & Daniel Wolfenzon, 2007. "Inside the Family Firm: The Role of Families in Succession Decisions and Performance," The Quarterly Journal of Economics, Oxford University Press, vol. 122(2), pages 647-691.
  23. Francisco H.G. Ferreira & Jérémie Gignoux, 2011. "The Measurement of Inequality of Inequality of Opportunity: Theory and an Application to Latin America," Post-Print halshs-00754503, HAL.
  24. Jo Blanden, 2013. "Cross-Country Rankings In Intergenerational Mobility: A Comparison Of Approaches From Economics And Sociology," Journal of Economic Surveys, Wiley Blackwell, vol. 27(1), pages 38-73, 02.
  25. repec:idb:brikps:60098 is not listed on IDEAS
  26. Corak, Miles & Piraino, Patrizio, 2010. "Intergenerational Earnings Mobility and the Inheritance of Employers," IZA Discussion Papers 4876, Institute for the Study of Labor (IZA).
  27. Francisco Pérez-González, 2006. "Inherited Control and Firm Performance," American Economic Review, American Economic Association, vol. 96(5), pages 1559-1588, December.
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