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Intergenerational wealth mobility and the role of inheritance: Evidence from multiple generations

Abstract
This study estimates intergenerational correlations in mid-life wealth across three generations, and a young fourth generation, and examines how much of the parent-child association that can be explained by inheritances. Using a Swedish data set we find parent-child rank correlations of 0.3–0.4 and grandparents-grandchild rank correlations of 0.1–0.2. Conditional on parents’ wealth, grandparents’ wealth is weakly positively associated with grandchild’s wealth and the parent-child correlation is basically unchanged if we control for grandparents’ wealth. Bequests and gifts strikingly account for at least 50 per cent of the parent-child wealth correlation while earnings and education are only able to explain 25 per cent.
Other description
JEL: D31, J62
URI
http://hdl.handle.net/2077/46464
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  • Working papers
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gupea_2077_46464_1.pdf (474.5Kb)
Date
2016-08
Author
Adermon, Adrian
Lindahl, Mikael
Waldenström, Daniel
Keywords
multigenerational mobility
bequests
mid-life wealth
Publication type
report
ISSN
1403-2465
Series/Report no.
Working Papers in Economics
670
Language
eng
Metadata
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