{"title":"代际弹性的家庭投资模型","authors":"Simon M.S. Lo","doi":"10.1016/j.jebo.2025.107213","DOIUrl":null,"url":null,"abstract":"<div><div>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.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"238 ","pages":"Article 107213"},"PeriodicalIF":2.3000,"publicationDate":"2025-09-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"A family investment model for intergenerational elasticity\",\"authors\":\"Simon M.S. Lo\",\"doi\":\"10.1016/j.jebo.2025.107213\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>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.</div></div>\",\"PeriodicalId\":48409,\"journal\":{\"name\":\"Journal of Economic Behavior & Organization\",\"volume\":\"238 \",\"pages\":\"Article 107213\"},\"PeriodicalIF\":2.3000,\"publicationDate\":\"2025-09-18\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Economic Behavior & Organization\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0167268125003324\",\"RegionNum\":3,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Economic Behavior & Organization","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0167268125003324","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
A family investment model for intergenerational elasticity
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.
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.