Born with a Silver Spoon? Danish Evidence on Wealth Inequality in Childhood
利用丹麦三十年的财富记录，研究发现儿童时期的财富虽少，但能强烈预测成年后的财富水平，且比父母财富更具预测力，其作用机制在于反映储蓄行为的代际相关性和额外转移。
We use Danish wealth records from three decades to characterise wealth inequality in childhood, where the main source of wealth is transfers. Wealth holdings are small in childhood but they have strong predictive power for future wealth in adulthood. At age 18, asset holdings of children are more informative than parental wealth in predicting wealth of children when they are in their 40s. We investigate why and rule out that childhood wealth in itself can accumulate enough to explain later wealth inequality. Instead, childhood wealth seems to proxy for intergenerational correlation in savings behaviour and additional transfers from parents.