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Accompanying a sharp rise in economic inequality in China since its economic reform, two countercurrents characterize the trends in China’s intergenerational social mobility. On the one hand, industrialization in postreform China has promoted occupational mobility. On the other hand, both occupational mobility net of industrialization and educational mobility in China have trended downward, reaching levels similar to those in the United States in the most recent cohort. In earlier cohorts, whereas social mobility for Chinese men was unusually high, social mobility was particularly limited fo...

Homeownership among younger households has been decreasing in several major advanced economies. This column shows that increases in labour income inequality and uncertainty are key drivers of this trend. Confronted with high house prices and low, risky incomes, many young households cannot or do not want to risk making such a big, illiquid investment. As a result, they

The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.

A UCLA study has found that young adults who have experienced discrimination have a higher risk for both short- and long-term behavioral and mental health problems.Researchers examined a decade’s worth of health data on 1,834 Americans who were betwe

Children of Earned Income Tax Credit beneficiaries delayed marriage and first births, according to a new study co-authored by a University of Michigan professor, suggesting the cost-effectiveness of the federal program.