Estimating the intergenerational correlation of incomes: an errors-in-variables framework

Détails

ID Serval
serval:BIB_B9E397634C0D
Type
Article: article d'un périodique ou d'un magazine.
Collection
Publications
Institution
Titre
Estimating the intergenerational correlation of incomes: an errors-in-variables framework
Périodique
Economica
Auteur(s)
Abul Naga Ramses H.
Statut éditorial
Publié
Date de publication
2002
Peer-reviewed
Oui
Volume
69
Numéro
273
Pages
69-91
Langue
anglais
Résumé
Because the permanent incomes of parents and children are typically unobservable, the permanent income of the parent family is taken to be a latent variable, but it is assumed that a model for its determinants is known to the researcher. I propose two related estimators for the intergenerational correlation: a 2SLS procedure and a more efficient MIMIC estimator. MIMIC also provides estimates of the variance parameters required to evaluate the bias of the OLS estimator. Using US data, I provide estimates for the intergenerational correlation ranging between 0.30 and 0.78. The bias of the OLS estimator is calculated to be in the order of 40%. [Author]
Mots-clé
Income Intergenerational Relations
Création de la notice
19/11/2007 10:45
Dernière modification de la notice
20/08/2019 15:27
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