Program > Papers by author > Mocetti Sauro

Monday 12
B8 - Equity, justice and other normative criteria and measurement I
Chair: Sauro Mocetti
› 14:55 - 15:20 (25min)
› Room 103 - B. Martinu
Intergenerational mobility in the very long run: Florence 1427-2011
Sauro Mocetti  1@  , Guglielmo Barone  2@  
1 : Bank of Italy  -  Website
2 : Bank of Italy

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 professions. Our results are confirmed when we account for the quality of the pseudo-links and when we address the potential selectivity bias due to the differential survival rates across families. We argue that the quasi-immobility of pre-industrial society and the positional advantages in the access to certain professions might explain (in part) the long-lasting effects of ancestors' socioeconomic status.

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