Intergenerational Persistence of Earnings : The Role of Early and College Education †

  title={Intergenerational Persistence of Earnings : The Role of Early and College Education †},
  author={Diego Restuccia},
  • Diego Restuccia
  • Published 2002
Recent empirical studies show that the intergenerational persistence of economic status in the U.S. is much higher than previously thought. We develop a quantitative theory of inequality and intergenerational transmission of human capital where parents invest in early and college education of their children subject to borrowing constraints. Children differ exogenously in innate abilities, which can be correlated with their parent’s innate ability. An important feature of the environment is that… CONTINUE READING
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