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Income Inequality, Intergenerational Mobility, and the Great Gatsby Curve: Is Education the Key?

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Title: Income Inequality, Intergenerational Mobility, and the Great Gatsby Curve: Is Education the Key?
Authors: Jerrim, John, Macmillan, Lindsey
Source: Social Forces. Dec2015, Vol. 94 Issue 2, p505-533. 29p.
Subjects: Income inequality, Intergenerational mobility, Educational attainment research, Socioeconomics, Comparative studies, Education & economics, Labor market
Abstract: It is widely believed that countries with greater levels of income inequality also have lower levels of intergenerational mobility. This relationship, known as the Great Gatsby Curve (GGC), has been prominently cited by high-ranking public policymakers, bestselling authors, and Nobel Prize-winning academics. Yet, relatively little crossnational work has empirically examined the mechanisms thought to underpin the GGC--particularly with regard to the role of educational attainment. This paper uses the cross-nationally comparable Programme for International Assessment of Adult Competencies (PIAAC) data set to shed new light on this issue. We find that income inequality is associated with several key components of the intergenerational transmission process--including access to higher education, the financial returns on education, and the residual effect of parental education upon labor-market earnings. Thus, consistent with theoretical models, we find that educational attainment is an important driver of the relationship between intergenerational mobility and income inequality. We hence conclude that unequal access to financial resources plays a central role in the intergenerational transmission of advantage. [ABSTRACT FROM AUTHOR]
Copyright of Social Forces is the property of Oxford University Press / USA and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Database: Psychology and Behavioral Sciences Collection
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  Data: Income Inequality, Intergenerational Mobility, and the Great Gatsby Curve: Is Education the Key?
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  Data: <searchLink fieldCode="DE" term="%22Income+inequality%22">Income inequality</searchLink><br /><searchLink fieldCode="DE" term="%22Intergenerational+mobility%22">Intergenerational mobility</searchLink><br /><searchLink fieldCode="DE" term="%22Educational+attainment+research%22">Educational attainment research</searchLink><br /><searchLink fieldCode="DE" term="%22Socioeconomics%22">Socioeconomics</searchLink><br /><searchLink fieldCode="DE" term="%22Comparative+studies%22">Comparative studies</searchLink><br /><searchLink fieldCode="DE" term="%22Education+%26+economics%22">Education & economics</searchLink><br /><searchLink fieldCode="DE" term="%22Labor+market%22">Labor market</searchLink>
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  Data: It is widely believed that countries with greater levels of income inequality also have lower levels of intergenerational mobility. This relationship, known as the Great Gatsby Curve (GGC), has been prominently cited by high-ranking public policymakers, bestselling authors, and Nobel Prize-winning academics. Yet, relatively little crossnational work has empirically examined the mechanisms thought to underpin the GGC--particularly with regard to the role of educational attainment. This paper uses the cross-nationally comparable Programme for International Assessment of Adult Competencies (PIAAC) data set to shed new light on this issue. We find that income inequality is associated with several key components of the intergenerational transmission process--including access to higher education, the financial returns on education, and the residual effect of parental education upon labor-market earnings. Thus, consistent with theoretical models, we find that educational attainment is an important driver of the relationship between intergenerational mobility and income inequality. We hence conclude that unequal access to financial resources plays a central role in the intergenerational transmission of advantage. [ABSTRACT FROM AUTHOR]
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  Data: <i>Copyright of Social Forces is the property of Oxford University Press / USA and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
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        Text: English
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        StartPage: 505
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      – SubjectFull: Income inequality
        Type: general
      – SubjectFull: Intergenerational mobility
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      – SubjectFull: Educational attainment research
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              Text: Dec2015
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