Article written by Sabri Ben-Achour, Alex Schroeder, Our Weekly, Extra Credit, Newsletter Is An Unexpected Way To Learn About The Economy, One Documentary Film At A Time. Sign Up To Watch, Learn, With Us., via https://www.marketplace.org on 24 May 2023
A key factor in how children grow up and what kind of life they’ll go on to live is how much money their parents make.
New research finds that parental income in the teenage years is more predictive of what kind of opportunities children will get as adults.
Ben-Achour: So, as one might assume, the money that parents make has a direct effect on how well off their children go on to be.
But you found that there are certain times in a child’s life when what their parents are making has extra impact.
Durlauf: If you think about the ways that income translates into the things that affect children, they’re different in early childhood than they are in adolescence.