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On The Intergenerational Persistence Of Work Hours, Manuel Toledo
On The Intergenerational Persistence Of Work Hours, Manuel Toledo
Manuel E Toledo
This paper studies the intergenerational persistence of work hours. In particular, I look at the correlation of hours between fathers and sons in the U.S. Using data from the Panel Study of Income Dynamics, I find a strong persistence in the permanent component of hours worked. I investigate the extent this correlation is explained by (i) persistence in wages, (ii) correlation in leisure preferences, and (iii) intergenerational wealth transfers. I also examine the role of work effort on the transmission of earnings across generations. To this end I provide a quantitative model of intergenerational transmission of human capital and wealth.