Genetic Endowments and Wealth Inequality.
Beliefs
D14
D31
Education and Genetics
G11
H55
I24
Inequality
J24
Portfolio Decisions
Wealth
Journal
The journal of political economy
ISSN: 0022-3808
Titre abrégé: J Polit Econ
Pays: United States
ID NLM: 9878848
Informations de publication
Date de publication:
Apr 2020
Apr 2020
Historique:
entrez:
1
9
2020
pubmed:
31
8
2020
medline:
31
8
2020
Statut:
ppublish
Résumé
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.
Identifiants
pubmed: 32863431
doi: 10.1086/705415
pmc: PMC7448697
mid: NIHMS1045639
doi:
Types de publication
Journal Article
Langues
eng
Pagination
1474-1522Subventions
Organisme : NIA NIH HHS
ID : RF1 AG055654
Pays : United States
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