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Trends in intergenerational home ownership and wealth transmission

Eyles, Andrew, Blanden, Jo and Machin, Stephen (2021) Trends in intergenerational home ownership and wealth transmission. CEP Discussion Papers (1756). Centre for Economic Performance, LSE, London, UK.

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Abstract

Prior research on trends in intergenerational mobility in economic status has focused chiefly on income and earnings. There is hardly any research on trends in intergenerational wealth transmission, at least in part because of the rarity of cross-generational data with wealth measures good enough for a crosstime analysis to be undertaken. In the intergenerational setting, housing tenure data is more widely available than good data on total wealth. This paper uses cross-time changes in intergenerational associations in home ownership to generate evidence on trends in intergenerational wealth mobility. Both home ownership and the value of main residence are shown to be strongly associated with wealth accumulation. The strength of the intergenerational link in home ownership in the UK has grown over time and, as parental home ownership displays a strong relationship with an individual’s future wealth, this can be informative about trends in intergenerational wealth transmission. Taken together, the results indicate that intergenerational wealth transmission has strengthened over time in Britain.

Item Type: Monograph (Discussion Paper)
Official URL: https://cep.lse.ac.uk/_new/publications/discussion...
Additional Information: © 2021 The Authors
Divisions: Centre for Economic Performance
Economics
Subjects: H Social Sciences > HN Social history and conditions. Social problems. Social reform
H Social Sciences > HC Economic History and Conditions
H Social Sciences > HG Finance
JEL classification: R - Urban, Rural, and Regional Economics > R3 - Production Analysis and Firm Location > R31 - Housing Supply and Markets
J - Labor and Demographic Economics > J1 - Demographic Economics > J11 - Demographic Trends and Forecasts
D - Microeconomics > D3 - Distribution > D31 - Personal Income, Wealth, and Their Distributions
J - Labor and Demographic Economics > J6 - Mobility, Unemployment, and Vacancies > J62 - Job, Occupational, and Intergenerational Mobility
Date Deposited: 22 Mar 2022 11:42
Last Modified: 22 Mar 2022 11:42
URI: http://eprints.lse.ac.uk/id/eprint/114426

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