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Title: Regression Toward Mediocrity in Economic Stature
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Zimmerman, David J. |
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Regression Toward Mediocrity in Economic Stature American Economic Review 82,3 (June 1992): 409-429. Also: http://www.jstor.org/stable/2117313 Cohort(s): Older Men, Young Men Publisher: American Economic Association Keyword(s): Earnings; Fathers and Children; Income; Intergenerational Patterns/Transmission; Mobility; Mobility, Economic; Socioeconomic Status (SES); Wages, Men; Wages, Young Men Permission to reprint the abstract has not been received from the publisher. Estimates of the correlation in lifetime earnings between fathers and sons are presented. Data from the National Longitudinal Survey are used to measure the amount of intergenerational economic mobility present in the U.S. The data were obtained from a sample of 876 independent father-son pairs over the 1966-81 period and were analyzed on the basis of income from wages and salaries, hourly wages, and the Duncan index of socioeconomic status. Earlier studies, conducted for the US, report elasticities of children's earnings with respect to parent's earnings of 0.2 or less, suggesting extensive intergenerational mobility. These estimates, however, are biased downward by error-contaminated measures of lifetime economic status. Estimates are presented which correct for the problem of measurement error and find the integenerational correlation in income to be on the order of 0.4. This suggests considerably less intergenerational mobility than previously believed. Charts, equations, references. |
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Bibliography Citation
Zimmerman, David J. "Regression Toward Mediocrity in Economic Stature." American Economic Review 82,3 (June 1992): 409-429.
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