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How Similar Are Credit Scores Across Generations?

Author

Listed:
  • Daniel Hartley
  • Bhashkar Mazumder
  • Aastha Rajan
Abstract
With the rise in economic inequality in the United States in recent decades, there has been growing concern about whether there is a sufficient degree of equality of opportunity in our society. Policymakers and researchers alike often focus on studies of intergenerational mobility as a way of assessing opportunity. These studies typically analyze distinct aspects of socioeconomic status, such as income, education, occupational status, and health, and measure the association in these outcomes between parents and their adult children.1 If the association (level of similarity) is very high, then this may indicate that there is low mobility and relatively little opportunity for poor children to overcome their initial economic disadvantage.

Suggested Citation

  • Daniel Hartley & Bhashkar Mazumder & Aastha Rajan, 2019. "How Similar Are Credit Scores Across Generations?," Chicago Fed Letter, Federal Reserve Bank of Chicago.
    • Handle: RePEc:fip:fedhle:00113
    DOI: 10.21033/cfl-2019-424
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    Cited by:

    1. Braxton, John Carter & Chikhale, Nisha & Herkenhoff, Kyle & Phillips, Gordon, 2024. "Intergenerational Mobility and Credit," IZA Discussion Papers 16826, Institute of Labor Economics (IZA).

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