| Popis: |
Academic researchers and policymakers have a long-standing interest in the extent to which economic well-being is transmitted across generations. Most of the research on this issue has focused on the intergenerational correlation in income (see Solon 1999 for a review) and wealth (Charles and Hurst 2003), where as relatively little attention has been paid to the intergenerational correlation in consumption expenditures (Mulligan 1997; Aughinbaugh 2000; and Waldkirch, Ng, and Cox 2004). Yet, consumption is arguably more directly related to consumers’ utility than other indicators of material well-being, and there are reasons to suppose that the intergenerational correlation in consumption may reveal new insights about the extent and explanation for the transmission of material well-being across generations. |
