NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Fading American Dream: Trends in Absolute Income Mobility Since 1940

Raj Chetty, David Grusky, Maximilian Hell, Nathaniel Hendren, Robert Manduca, Jimmy Narang

NBER Working Paper No. 22910
Issued in December 2016, Revised in March 2017

---- Acknowledgements ----

We thank Rebecca Diamond, Guido Imbens, Xavier Jaravel, Sean Reardon, and numerous seminar participants for helpful comments, Robert Fluegge and our other pre-doctoral fellows for outstanding research assistance, and David Leonhardt for posing the question that led to this research. This paper incorporates results from an independent working paper by Robert Manduca entitled “Opportunity No More: Declining Absolute Mobility in the United States, 1940-2010.” This research was funded by Stanford University, Harvard University, the Bill and Melinda Gates Foundation, and the Robert Wood Johnson Foundation. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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