We examine intergenerational mobility in the very long run, across generations that are six centuries apart. We exploit a unique dataset containing detailed information at the individual level for all people living in the Italian city of Florence in 1427. These individuals have been associated, using their surnames, with their pseudo-descendants living in Florence in 2011.We find that long-run earnings elasticity is about 0.04; we also find an even stronger role for real wealth inheritance and evidence of persistence in belonging to certain elite occupations. Our results are confirmed when we account for the quality of the pseudo-links and when we address the potential selectivity bias behind the matching process. Finally, we frame our results within the existing evidence and argue that the quasi-immobility of preindustrial society and the existence of multigenerational effects might explain the long-lasting effects of ancestors’ socioeconomic status.

Guglielmo Barone, Sauro Mocetti (2021). Intergenerational mobility in the very long run: Florence 1427-2011. THE REVIEW OF ECONOMIC STUDIES, 88(4), 1863-1891 [10.1093/restud/rdaa075].

Intergenerational mobility in the very long run: Florence 1427-2011

Guglielmo Barone;
2021

Abstract

We examine intergenerational mobility in the very long run, across generations that are six centuries apart. We exploit a unique dataset containing detailed information at the individual level for all people living in the Italian city of Florence in 1427. These individuals have been associated, using their surnames, with their pseudo-descendants living in Florence in 2011.We find that long-run earnings elasticity is about 0.04; we also find an even stronger role for real wealth inheritance and evidence of persistence in belonging to certain elite occupations. Our results are confirmed when we account for the quality of the pseudo-links and when we address the potential selectivity bias behind the matching process. Finally, we frame our results within the existing evidence and argue that the quasi-immobility of preindustrial society and the existence of multigenerational effects might explain the long-lasting effects of ancestors’ socioeconomic status.
2021
Guglielmo Barone, Sauro Mocetti (2021). Intergenerational mobility in the very long run: Florence 1427-2011. THE REVIEW OF ECONOMIC STUDIES, 88(4), 1863-1891 [10.1093/restud/rdaa075].
Guglielmo Barone; Sauro Mocetti
File in questo prodotto:
File Dimensione Formato  
barone_mocetti_res2020_post.pdf

Open Access dal 07/11/2022

Tipo: Postprint
Licenza: Licenza per accesso libero gratuito
Dimensione 699.11 kB
Formato Adobe PDF
699.11 kB Adobe PDF Visualizza/Apri

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11585/789874
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 30
  • ???jsp.display-item.citation.isi??? 22
social impact