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60 p, 299.9 KB Intergenerational Mobility under Education-Effort Complementarity / Alonso Carrera, Jaime (Universidade de Vigo) ; Caballé, Jordi (Universitat Autonoma de Barcelona) ; Raurich, Xavier (Universitat de Barcelona)
We build a model that, according to the empirical evidence, gives rise to oscillations in wealth within a dynasty while keeping intergenerational persistence in education attainment. We propose a mechanism based on the interaction between wealth and e§ort as suggested by the Carnegie conjecture, according to which wealthier individuals devote less e§ort in their job occupations than poorer. [...]
Macroeconomic dynamics, 2018  

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