Intergenerational Transmission of Income and Wealth

Behrman, J. and Taubman, P. (1976) Intergenerational Transmission of Income and Wealth. The American Economic Review, 66 (2). pp. 436-440.

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Abstract

Parents can transmit income and wealth to their offspring directly through bequests and gifts of financial assets. Parents can augment a child's skills and traits through the provision of, for example, education, diet and doctors. Biological parents also supply the genetic endowments which provide skills useful in the labor market. Although practically a virgin territory, it is important to estimate the effects of genetic endowments and common (mostly family) environment on earnings and on other indices of individual attainment in order to gauge the effectiveness of programs designed to improve equality of opportunity. Also if genetics and common environment are not controlled for, biased estimates of regression coefficients of observable variables, such as years of education, often are obtained.

Item Type: Article
Additional Information: This research was supported by National Science Foundation Grant SOC 73-05543.
Author Affiliation: Professors of Economics, University of Pennsylvania.
Subjects: Social Sciences
Divisions: General
Depositing User: Mr Siva Shankar
Date Deposited: 08 Jan 2014 07:35
Last Modified: 08 Jan 2014 07:35
Official URL: http://www.jstor.org/stable/1817257
URI: http://eprints.icrisat.ac.in/id/eprint/12349

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