Generations of Advantage. Multigenerational Correlations in Family Wealth
Abstract
Inequality in family wealth is high, yet we know little about how much and how wealth inequality is maintained across generations. We argue that a long-term perspective reflective of wealth’s cumulative nature is crucial to understand the extent and channels of wealth reproduction across generations. Using data from the Panel Study of Income Dynamics that span nearly half a century, we show that a one-decile increase in parents’ wealth position...
Paper Details
Title
Generations of Advantage. Multigenerational Correlations in Family Wealth
Published Date
Dec 13, 2017
Journal
Volume
96
Issue
4
Pages
1411 - 1442
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