3.6 Apply Techniques F3, F4 and F5 to improve flow between linked paragraphs
Here you have another easy-to-read flowing connection between paragraphs. It’s the bolded words at the start of the second paragraph that make all the difference.
Among our five proposed key channels of transmission, we first consider the role of direct transfers through gifts, also called inter vivos transfers, and bequests. Bequests and transfers are extremely unequally distributed and have been estimated to account for a little over half of aggregate net worth in the United States. Using Swedish data, Adermon, Lindahl, and Waldenström (2016) find that inheritances and gifts explain the majority of the intergenerational correlation in wealth. Direct transfers are thus a likely contributor to the intergenerational rigidity of the wealth structure.
Although gifts and bequests may generate large instantaneous wealth gains, family wealth may contribute even more to offspring wealth position via earlier investments and interventions that appreciate over a longer period. Family wealth is associated with a host of outcomes for the offspring generation—their education, homeownership, marriage, and self-employment—that are in turn associated with offspring’s own ability to further accumulate wealth. Prior research has documented strong associations between…
Pfeffer FT and Killewald A Social Forces 2018 Generations of advantage. Multigenerational correlations in family wealth
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