The Effects of Extended Family Wealth on Income Mobility

Toney will use a two- and three-generation sample from the Panel Study of Income Dynamics (PSID) to construct measures of the life course of children. Measures will include the income, wealth, and neighborhood conditions when children are living with their parents and income as the children form their own households. These measures, along with panel regressions and decompositions, will help establish better estimates of the role parental and grandparental wealth plays in income mobility.