The impacts of the external shocks between 2001-2003 on intergenerational mobility: An application of estimating permanent income with machine learning

Xu, Yangyuntao.


  • This paper finds that machine learning can overcome the life-cycle bias in the process of estimating permanent income, where the permanent income is defined as at least 5-years' average income between 30 and 40. In order to measure the impacts of external shocks, the Bush Tax cuts and economic recession, on intergenerational mobility, dividend income is chosen as identification strategy. This ... read more
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