Breaking the Links: Natural Resource Booms and Intergenerational Mobility

Fair intergenerational sharing of a natural resource

In this article, overlapping generations are extracting a natural resource over an infinite future. We examine the fair allocation of resource and compensations among generations. Fairness is defined by core lower bounds and aspiration upper bounds. The core lower bounds require that every coalition of generations obtains at least what it could achieve by itself. The aspiration upper bounds req...

Sustainability and the intergenerational distribution of natural resource entitlements

The paper describes an OLG economy with a single exhaustible resource that has amenity value. The steady states of this economy form a continuum, implying pathdependency. We compare three policy scenarios; first, a ‘zero extraction’ policy of enforced conservation that avoids environmental degradation, possibly at the expense of intertemporal efficiency. Second, a ‘grandfathering’ policy that e...

Education Systems and Intergenerational Mobility

Ethnic Capital and Intergenerational Mobility*

This paper analyzes the extent to which ethnic skill differentials are transmitted across generations. I assume that ethnicity acts as an externality in the human capital accumulation process. The skills of the next generation depend on parental inputs and on the quality of the ethnic environment in which parents make their investments, or "ethnic capital." The empirical evidence reveals that t...

Intergenerational mobility in Korea

This study investigates intergenerational earnings mobility in Korea for sons born between 1958 and 1973 and compares Korea’s mobility to that of other nations. It uses data from the Korea Labor and Income Panel Study and the Household Income and Expenditure Survey conducted by the Korean National Statistics Bureau. Since no single Korean dataset includes information on both sons’ and their fat...