Marital Sorting and Cross-Country Differences in Intergenerational Earnings Persistence

V. Tolstova
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Abstract

In a real economy, decisions on investments in child human capital of children are made by families rather than by atomistic parents as is typically assumed in the literature. This paper incorporates family formation into an otherwise standard dynastic framework with human capital accumulation. The study finds that accounting for differences in taxation and education policies between the U.S. and 10 OECD countries is sufficient to replicate cross-country variations in the degree of assortative matching and its positive correlation with the persistence of intergenerational earnings. Positive assortative matching is crucial to a model’s ability to generate realistic levels of intergenerational earnings correlation observed in the data.
婚姻分类与代际收入持续性的跨国差异
在实体经济中,对儿童人力资本的投资决策是由家庭做出的,而不是像文献中通常假设的那样,由原子式的父母做出。本文将家庭形成与人力资本积累纳入一个标准的王朝框架。研究发现,考虑到美国和10个经合组织国家之间税收和教育政策的差异,足以复制分类匹配程度的跨国差异,以及它与代际收入持久性的正相关性。正分类匹配是至关重要的一个模型的能力,以产生实际水平的代际收入相关性观察到的数据。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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