Journal article
Genetic Endowments and Wealth Inequality
The Journal of political economy, Vol.128(4), pp.1474-1522
04/01/2020
DOI: 10.1086/705415
PMCID: PMC7448697
PMID: 32863431
Abstract
We show that genetic endowments linked to educational attainment strongly and robustly predict wealth at retirement. The estimated relationship is not fully explained by flexibly controlling for education and labor income. We therefore investigate a host of additional mechanisms that could account for the gene-wealth gradient, including inheritances, mortality, risk preferences, portfolio decisions, beliefs about the probabilities of macroeconomic events, and planning horizons. We provide evidence that genetic endowments related to human capital accumulation are associated with wealth not only through educational attainment and labor income but also through a facility with complex financial decision-making.
Details
- Title: Subtitle
- Genetic Endowments and Wealth Inequality
- Creators
- Daniel Barth - California Southern UniversityNicholas W. Papageorge - Johns Hopkins UniversityKevin Thom - University of Wisconsin–Milwaukee
- Resource Type
- Journal article
- Publication Details
- The Journal of political economy, Vol.128(4), pp.1474-1522
- DOI
- 10.1086/705415
- PMID
- 32863431
- PMCID
- PMC7448697
- NLM abbreviation
- J Polit Econ
- ISSN
- 0022-3808
- eISSN
- 1537-534X
- Publisher
- Univ Chicago Press
- Number of pages
- 49
- Grant note
- RF1AG055654 / National Institute on Aging of the National Institutes of Health; United States Department of Health & Human Services; National Institutes of Health (NIH) - USA; NIH National Institute on Aging (NIA)
- Language
- English
- Date published
- 04/01/2020
- Academic Unit
- Economics
- Record Identifier
- 9984936836602771
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