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The lasting effect of intergenerational wealth transfers: Human capital, family formation, and wealth.

Publication ,  Journal Article
Benton, RA; Keister, LA
Published in: Social science research
November 2017

Recent evidence indicates that inheritances and other intergenerational wealth transfers have only a limited effect on wealth inequality and the intergenerational transmission of financial well-being. In this study, we explore the role that human capital and family formation play in mediating the relationship between receiving a transfer and building wealth. We examine how educational attainment and family formation determine whether or not households are able to convert inheritances into greater assets, facilitating improved wealth accumulation. Using data from the Panel Study for Income Dynamics (PSID), we examine how these factors moderate wealth accumulation trajectories following a bequest or inter vivos gift. Results reveal that educational attainment and marriage each facilitate wealth accumulation following a transfer. Our evidence suggests that cumulative advantage processes produce divergent wealth accumulation trajectories but these are situated in important turning points in the life course.

Duke Scholars

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Published In

Social science research

DOI

EISSN

1096-0317

ISSN

0049-089X

Publication Date

November 2017

Volume

68

Start / End Page

1 / 14

Related Subject Headings

  • Sociology
 

Citation

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Benton, R. A., & Keister, L. A. (2017). The lasting effect of intergenerational wealth transfers: Human capital, family formation, and wealth. Social Science Research, 68, 1–14. https://doi.org/10.1016/j.ssresearch.2017.09.006
Benton, Richard A., and Lisa A. Keister. “The lasting effect of intergenerational wealth transfers: Human capital, family formation, and wealth.Social Science Research 68 (November 2017): 1–14. https://doi.org/10.1016/j.ssresearch.2017.09.006.
Benton RA, Keister LA. The lasting effect of intergenerational wealth transfers: Human capital, family formation, and wealth. Social science research. 2017 Nov;68:1–14.
Benton, Richard A., and Lisa A. Keister. “The lasting effect of intergenerational wealth transfers: Human capital, family formation, and wealth.Social Science Research, vol. 68, Nov. 2017, pp. 1–14. Epmc, doi:10.1016/j.ssresearch.2017.09.006.
Benton RA, Keister LA. The lasting effect of intergenerational wealth transfers: Human capital, family formation, and wealth. Social science research. 2017 Nov;68:1–14.
Journal cover image

Published In

Social science research

DOI

EISSN

1096-0317

ISSN

0049-089X

Publication Date

November 2017

Volume

68

Start / End Page

1 / 14

Related Subject Headings

  • Sociology