Intergenerational talent transmission, inequality, and social mobility
- Publisher: Hamburg: Helmut-Schmidt-Universität - Universität der Bundeswehr Hamburg, Fächergruppe Volkswirtschaftslehre
Intergenerational mobility | D31 | J62 | Intergenerational mobility; Inequality; Occupational choice; History- dependence | E25 | I21 | J24 | Inequality | O15 | Historydependence | Occupational choice | D91
The paper investigates the effects of intra-family talent transmission when human capital exhibits indivisibilities and parental financing of education involves borrowing constraints. Positive talent correlation reduces social mobility but steady state inequality and macroeconomic history-dependence are not affected.