Intergenerational Persistence of Earnings: The Role of Early and College Education
构建量化模型分析代际收入持续性的三大来源：先天能力、早期教育和大学教育，发现父母教育投资（尤其是早期教育）解释了约一半的代际收入相关性，对教育政策有重要启示。
Recent empirical evidence from the United States indicates a high degree of persistence in earnings across generations. Designing effective public policies to increase social mobility requires identifying and measuring the major sources of persistence and inequality in earnings. We provide a quantitative model of intergenerational human capital transmission that focuses on three sources: innate ability, early education, and college education. We find that approximately one-half of the intergenerational correlation in earnings is accounted for by parental investment in education, in particular early education. We show that these results have important implications for education policy.