Genetic Endowments and Wealth Inequality
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 f...
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| Veröffentlicht in: | The Journal of political economy 2020-04, Vol.128 (4), p.1474-1522 |
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| container_end_page | 1522 |
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| container_issue | 4 |
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| container_title | The Journal of political economy |
| container_volume | 128 |
| creator | Barth, Daniel Papageorge, Nicholas W. Thom, Kevin |
| description | 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. |
| doi_str_mv | 10.1086/705415 |
| format | Article |
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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.</description><identifier>ISSN: 0022-3808</identifier><identifier>EISSN: 1537-534X</identifier><identifier>DOI: 10.1086/705415</identifier><identifier>PMID: 32863431</identifier><language>eng</language><publisher>United States: The University of Chicago Press</publisher><subject>Accumulation ; Capital formation ; Decision making ; Economic inequality ; Economic theory ; Educational attainment ; Endowment ; Human capital ; Political economy ; Retirement ; Risk preferences ; Wealth</subject><ispartof>The Journal of political economy, 2020-04, Vol.128 (4), p.1474-1522</ispartof><rights>2020 by The University of Chicago. 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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.</description><subject>Accumulation</subject><subject>Capital formation</subject><subject>Decision making</subject><subject>Economic inequality</subject><subject>Economic theory</subject><subject>Educational attainment</subject><subject>Endowment</subject><subject>Human capital</subject><subject>Political economy</subject><subject>Retirement</subject><subject>Risk preferences</subject><subject>Wealth</subject><issn>0022-3808</issn><issn>1537-534X</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2020</creationdate><recordtype>article</recordtype><recordid>eNpdkE1PwkAQhjdGI4j6EwyJxnCp7idsLyaGIJqQeNHobTPdnUJJaaHbavj3LgHxYy9z2CfvPPMScs7oDaO6fzugSjJ1QNpMiUGkhHw_JG1KOY-EprpFTryf0_AYFcekJbjuCylYm_TGWGCd2e6ocOXnAovad6Fw3TeEvJ51nwpcNZBn9fqUHKWQezzbzQ55fRi9DB-jyfP4aXg_iazUuo5ihASF1ggMIUYnUuo4WNUHcBxFAlRzoVOeythy7YRKE-mcTm1CFWcORIfcbXOXTbJAZ4NRBblZVtkCqrUpITN_f4psZqblhxlIqfvxIAT0dgFVuWrQ12aReYt5DgWWjTdcCh3HUikV0Mt_6LxsqiKcZ4IkF2ojG6jrLWWr0vsK070Mo2ZTvtmWH8CL3-p77LvtAFxtgcbOMgvTclmh9z9Ldzlf-GWLYA</recordid><startdate>20200401</startdate><enddate>20200401</enddate><creator>Barth, Daniel</creator><creator>Papageorge, Nicholas W.</creator><creator>Thom, Kevin</creator><general>The University of Chicago Press</general><general>University of Chicago, acting through its Press</general><scope>NPM</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope><scope>7X8</scope><scope>5PM</scope></search><sort><creationdate>20200401</creationdate><title>Genetic Endowments and Wealth Inequality</title><author>Barth, Daniel ; Papageorge, Nicholas W. ; Thom, Kevin</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c488t-9eabe388ea1ea9ed3f0d2ac56aad2e3ba08238f2f49c28d35fb4dd8fcb0521da3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2020</creationdate><topic>Accumulation</topic><topic>Capital formation</topic><topic>Decision making</topic><topic>Economic inequality</topic><topic>Economic theory</topic><topic>Educational attainment</topic><topic>Endowment</topic><topic>Human capital</topic><topic>Political economy</topic><topic>Retirement</topic><topic>Risk preferences</topic><topic>Wealth</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Barth, Daniel</creatorcontrib><creatorcontrib>Papageorge, Nicholas W.</creatorcontrib><creatorcontrib>Thom, Kevin</creatorcontrib><collection>PubMed</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><collection>MEDLINE - Academic</collection><collection>PubMed Central (Full Participant titles)</collection><jtitle>The Journal of political economy</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Barth, Daniel</au><au>Papageorge, Nicholas W.</au><au>Thom, Kevin</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Genetic Endowments and Wealth Inequality</atitle><jtitle>The Journal of political economy</jtitle><addtitle>J Polit Econ</addtitle><date>2020-04-01</date><risdate>2020</risdate><volume>128</volume><issue>4</issue><spage>1474</spage><epage>1522</epage><pages>1474-1522</pages><issn>0022-3808</issn><eissn>1537-534X</eissn><abstract>We show that genetic endowments linked to educational attainment strongly and robustly predict wealth at retirement. 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| ispartof | The Journal of political economy, 2020-04, Vol.128 (4), p.1474-1522 |
| issn | 0022-3808 1537-534X |
| language | eng |
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| source | University of Chicago Press Journals (Full run); Business Source Complete |
| subjects | Accumulation Capital formation Decision making Economic inequality Economic theory Educational attainment Endowment Human capital Political economy Retirement Risk preferences Wealth |
| title | Genetic Endowments and Wealth Inequality |
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