A family investment model for intergenerational elasticity

IF 2.3 3区经济学 Q2 ECONOMICS

Journal of Economic Behavior & Organization Pub Date : 2025-09-18 DOI:10.1016/j.jebo.2025.107213

Simon M.S. Lo

引用次数: 0

Abstract

We use a family investment model to explain intergenerational income elasticity (IGE) through three transmission channels: parents’ financial investments, human capital, and family backgrounds. We distinguish between shareable (public) and non-shareable (private) financial resources, of which the relative roles change with children’s gender. Removing the indirect effects caused by parents’ human capital significantly reduces the actual IGE from 0.32 to 0.20, indicating weak intergenerational income persistence. New findings are obtained regarding the externality of family size, substitutability of parents’ human capital, relative roles of fathers’ and mothers’ human capital, and assortative mating in the IGE.

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代际弹性的家庭投资模型

本文采用家庭投资模型，通过父母的财务投资、人力资本和家庭背景三个传导渠道来解释代际收入弹性。我们区分了可共享（公共）和不可共享（私人）的财务资源，其相对角色随着儿童的性别而变化。排除父母人力资本的间接影响后，实际IGE从0.32显著降低至0.20，表明代际收入持续性较弱。在家庭规模的外部性、父母人力资本的可替代性、父亲和母亲人力资本的相对角色以及IGE中的分类交配等方面获得了新的发现。

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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来源期刊

Journal of Economic Behavior & Organization ECONOMICS-

CiteScore

3.80

自引率

9.10%

发文量

392

期刊介绍： The Journal of Economic Behavior and Organization is devoted to theoretical and empirical research concerning economic decision, organization and behavior and to economic change in all its aspects. Its specific purposes are to foster an improved understanding of how human cognitive, computational and informational characteristics influence the working of economic organizations and market economies and how an economy structural features lead to various types of micro and macro behavior, to changing patterns of development and to institutional evolution. Research with these purposes that explore the interrelations of economics with other disciplines such as biology, psychology, law, anthropology, sociology and mathematics is particularly welcome.