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

Author:

Restuccia Diego1,Urrutia Carlos2

Affiliation:

1. Department of Economics, University of Toronto, 150 St. George Street, Toronto M5S 3G7, Canada.

2. Centro de Investigación Económica, ITAM, Camino Santa Teresa 930, Colonia Héroes de Padierna, México 10700 D.F., México.

Abstract

Recent empirical evidence from the United States indicates a high degree of persistence in earnings across generations. Designing effective public policies to increase social mobility requires identifying and measuring the major sources of persistence and inequality in earnings. We provide a quantitative model of intergenerational human capital transmission that focuses on three sources: innate ability, early education, and college education. We find that approximately one-half of the intergenerational correlation in earnings is accounted for by parental investment in education, in particular early education. We show that these results have important implications for education policy.

Publisher

American Economic Association

Subject

Economics and Econometrics

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