| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29816 |
| 来源ID | Working Paper 29816 |
| Investing in the Next Generation: The Long-Run Impacts of a Liquidity Shock | |
| Patrick Agte; Arielle Bernhardt; Erica M. Field; Rohini Pande; Natalia Rigol | |
| 发表日期 | 2022-03-07 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | How do poor entrepreneurs trade off investments in business enterprises versus children's human capital, and how do these choices influence intergenerational socio-economic mobility? To examine this, we exploit experimental variation in household income resulting from a one-time relaxation of household liquidity constraints (Field et al., 2013), and track schooling and business outcomes over the subsequent 11 years. On average, treatment households, who were made wealthier through the experiment, increase human capital investment such that their children are 35% more likely to attend college. However, schooling gains only accrue to children with literate parents, among whom college attendance nearly doubles. In contrast, treatment effects on investment among the illiterate accrue only on the business margin and are accompanied by adverse educational outcomes for children. As a result, treatment lowers relative educational mobility. In a forecasting exercise, we find that earnings gains for literate households are four times larger than the earnings gains for illiterate households, raising earnings inequality. Our findings highlight how parental investment choices can contribute to a growth in intergenerational earnings inequality despite reductions in urban poverty. |
| 主题 | Financial Economics ; Corporate Finance ; Health, Education, and Welfare ; Education ; Poverty and Wellbeing ; Industrial Organization ; Firm Behavior ; Development and Growth ; Development |
| URL | https://www.nber.org/papers/w29816 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/587490 |
| 推荐引用方式 GB/T 7714 | Patrick Agte,Arielle Bernhardt,Erica M. Field,et al. Investing in the Next Generation: The Long-Run Impacts of a Liquidity Shock. 2022. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w29816.pdf（956KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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