Table 6:
Inheritances and Parental Education
| Dep. Var: Log Wealth | [1] | [2] | [3] | [4] |
|---|---|---|---|---|
| EA Score | 0.070*** (0.023) | 0.064*** (0.022) | 0.062*** (0.023) | 0.058** (0.023) |
| Any Inheritance | −1.042*** (0.172) | −0.990*** (0.171) | ||
| Log Total Inheritance | 0.121*** (0.016) | 0.116*** (0.016) | ||
| Father Education (Male) | 0.009 (0.007) | 0.007 (0.007) | ||
| Father Education (Female) | 0.021*** (0.007) | 0.019*** (0.007) | ||
| Mother Education (Male) | 0.014* (0.007) | 0.010 (0.007) | ||
| Mother Education (Female) | −0.009 (0.007) | −0.012 (0.007) | ||
| Obs. | 5621 | 5621 | 5621 | 5621 |
| R2 | 0.435 | 0.456 | 0.442 | 0.461 |
| Standard Controls | X | X | X | X |
| Principal Comp. | X | X | X | X |
| Years of Educ. | X | X | X | X |
| Full Educ. Controls | X | X | X | X |
Notes: This table presents estimates from regressions of log household wealth on average household EA score and varying sets of controls. Column [1] includes the full set of controls from Column [5] of Table 4. Column [2] includes an indicator for ever receiving an inheritance in the HRS, as well as the log of received inheritances (set to 0 for those without an inheritance). Column [3] includes controls for parents’ years of education, along with separate dummy variables indicating missing values for each of the four parental education variables. Column [4] includes both the inheritance variables and the parental education variables. Significance stars ***, **, and * indicate statistical significance at the 0.01, 0.05, and 0.10 levels, respectively. Standard errors are clustered at the family level.