一、主題：Your American Dream is Not Mine!——A New Approach to Estimating Intergenerational Mobility Elasticities

二、主講人：安永紅，德州農工大學經濟助理教授（with tenure）。他在約翰霍普金斯大學獲得經濟學博士學位，研究領域包括微觀經濟學和産業組織理論，曾在Journal of Econometrics、Journal of Business & Economic Statistics、Journal of Applied Econometrics、Applied Economics等期刊發表多篇學術論文。

三、時間：2018年6月22日（周五），12：30-13：30

四、地點：學院南路校區主教學樓913會議室

五、主持人：王雅琦，bevictor伟德官网講師

六、講座資助：bevictor伟德官网引智計劃

Abstract: This paper provides a unified framework for estimating intergenerational mobility elasticities (IGE) of children's income with respect to parental income. We allow the IGEs to be heterogeneous, by leaving the relationship of parental and child incomes unspecified, while acknowledging and addressing the latent nature of both child and parental permanent incomes and the resulted life-cycle bias. Our framework enables us to propose a formal test of the widely imposed assumption that the intergenerational mobility function is linear. Applying our method to the Panel Studies of Income Dynamics (PSID) data, we decisively reject the commonly imposed linearity assumption and find substantial heterogeneity in the IGEs across the population. The IGEs with respect to parental income exhibit a U-shape pattern. Specifically, there is a considerable degree of mobility among the broadly defined middle class, but the children of both high- and low-income parents are more likely to be high- and low-income adults, respectively. Our result suggests that the U.S. is indeed a “land of opportunity", just not for everyone! This result also provides valuable insights into the (intertemporal) Great Gatsby curve, suggesting that a higher level of inequality within one generation may lead to a higher level of social immobility in the next generation in the U.S..