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Intergenerational Mobility in the United States: What We Have Learned from the PSID
1Bhashkar Mazumder is a senior economist and research advisor in the economic research department at the Federal Reserve Bank of Chicago and the executive director of the Chicago Federal Statistical Research Data Center.
Abstract:
This article reviews the contributions of the Panel Study of Income Dynamics (PSID) to the study of intergenerational mobility. The PSID enables researchers to track individuals as they form new households and covers many dimensions of socioeconomic status over large portions of the life cycle, making the data ideal for studying intergenerational mobility. Studies have used PSID data to show that the United States is among the least economically mobile countries among advanced economies. The PSID has been instrumental to understanding various dimensions of intergenerational mobility, including occupation; wealth; education; consumption; health; and group differences by gender, race, and region. Studies using the PSID have also cast light on the mechanisms behind intergenerational persistence.
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