On January 20, 18:00, Aleksandra Lukina (University of Chicago Harris School of Public Policy) delivers a talk on «Intergenerational Mobility in the Markov Models of the Evolution of Wealth».
Abstract: This paper proposes a «stepping-stone» model of intergenerational mobility. We track the wealth of infinite sequences of one-parent, one-child families. A parent allocates her wealth between her own consumption and investment in her child. A novel assumption of our work concerns the technology describing the production of wealth from parental investment. The stepping-stone technology reflects the idea that only discrete levels of parental investments allow the next generation to achieve an access to a certain quality of education, training, etc. We allow for unobserved heterogeneity in the effects of investment on children's wealth, and so we allow wealth to be random, conditional on the parental investment. Within the developed framework we study the difference between a zero-shock process and processes with small amounts of noise and how perturbations of parameters change the equilibrium wealth distribution. Also, we offer some ideas related to measuring intergenerational mobility and analyzing the coevolution of inequality and mobility.
Working language: English.
This meeting will be held in a hybrid mode — both online and offline. Unfortunately, due to technical reasons, we cannot guarantee the high quality of the audio in the online translation.
We invite you to attend the seminar in person. The meeting will be held in the EUSP Gagarinskii Room (Gagarinskaya St., 6, entrance from Gagarinskaya St.). Admission is free, registration is not required.
If you are unable to attend the seminar in person, but still want to listen to the presentation, you can join the Zoom meeting. To obtain a link to the Zoom conference, send a request to spb.economic.seminar@gmail.com indicating your first and last name.