Family background and economic status in Finland

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    Abstract

    The importance of family background for economic outcomes is analyzed, using a Finnish data set. The estimates for intergenerational and sibling correlations in earnings are comparatively low. By estimating the magnitude of family influence conditional on parental earnings, children with poor parents are found to have lower intergenerational. elasticities, while the sibling resemblance is higher. Children with rich parents have higher intergenerational elasticities and the sibling resemblance is also higher, except for daughters. The results also indicate that the largest share of the intergenerational correlation is transmitted through observed characteristics, such as education and, in particulars occupation.
    Original languageUndefined/Unknown
    Pages (from-to)467–484
    Number of pages18
    JournalScandinavian Journal of Economics
    Volume103
    Issue number3
    Publication statusPublished - 2001
    MoE publication typeA1 Journal article-refereed

    Keywords

    • correlation in earnings
    • intermediating factors
    • non-linearities

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