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Parental Wealth Effects on Living Standards and Asset Holdings: Results from Chile

Author

Listed:
  • Florencia Torche

    (Queens College, CUNY)

  • Seymour Spilerman

    (Columbia University)

Abstract

This paper examines aspects of the replication of inequality across generations and attempts to assess the extent to which parental resources influence the life chances and living standards of adult children. The data come from a survey of 4,400 households in Chile that focused on parental resources and outcomes in children's lives. The results reveal several pathways by which parental resources affect children's economic well-being. In particular, the living standard outcome measures are influenced indirectly, through parental investments in education and earnings capacity, whereas the wealth holdings of families are largly impacted directly, through transfers of parental assets.

Suggested Citation

  • Florencia Torche & Seymour Spilerman, 2005. "Parental Wealth Effects on Living Standards and Asset Holdings: Results from Chile," Labor and Demography 0501005, University Library of Munich, Germany, revised 17 Jan 2005.
    • Handle: RePEc:wpa:wuwpla:0501005
    Note: Type of Document - pdf; pages: 49
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/lab/papers/0501/0501005.pdf
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    References listed on IDEAS

    as
    1. Gary S. Becker, 1981. "A Treatise on the Family," NBER Books, National Bureau of Economic Research, Inc, number beck81-1.
    2. Dante Contreras, 2002. "Explaining Wage Inequality in Chile: Does Education Really Matter?," Journal of Income Distribution, Ad libros publications inc., vol. 11(1-2), pages 3-3, June.
    3. Gary V. Engelhardt & Christopher J. Mayer, 1994. "Gifts for home purchase and housing market behavior," New England Economic Review, Federal Reserve Bank of Boston, issue May, pages 47-58.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Fabian T. Pfeffer & Martin Hällsten, 2012. "Mobility Regimes and Parental Wealth: The United States, Germany, and Sweden in Comparison," SOEPpapers on Multidisciplinary Panel Data Research 500, DIW Berlin, The German Socio-Economic Panel (SOEP).
    2. Hällsten, Martin & Pfeffer, Fabian T., 2017. "Grand advantage: family wealth and grandchildren's educational achievement in Sweden," Working Paper Series 2017:3, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    3. Seymour Spilerman & François-Charles Wolff, 2012. "Parental wealth and resource transfers : How they matter in France for home ownership and living standards," Working Papers hal-00678988, HAL.

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    More about this item

    Keywords

    Chile; wealth; intergenerational transfers; stratification;
    All these keywords.

    JEL classification:

    • J - Labor and Demographic Economics

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