Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/248587 
Year of Publication: 
2021
Series/Report no.: 
ISER Working Paper Series No. 2021-04
Publisher: 
University of Essex, Institute for Social and Economic Research (ISER), Colchester
Abstract: 
We document the intergenerational persistence of wealth between adult offspring and their parent's using the Wealth and Assets Survey for Great Britain. We estimate an intergenerational wealth elasticity of 0.4 and rank-rank elasticity of 0.3 and find wealth persistence for individuals in their 60s is lower than for those currently aged in their 30s and early 40s, though rank based estimates are stable. We estimate that the intergenerational wealth elasticity is 3.8 percentage points higher when comparing people with those the same age six years previously suggesting strong evidence of higher intergenerational wealth persistence in younger age cohorts.
Subjects: 
Wealth
Inequality
intergenerational mobility
Great Britain
JEL: 
D31
D63
I24
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.