Manuscript in preparation for the Handbook of Family Economics. We thank the editors, three anonymous referees, David de la Croix, Moshe Hazan, Almudena Sevilla and Hosny Zoabi for comments that helped improve the manuscript. Our thanks go to Suzanne Bellue, Kwok Yan Chiu, Laura Montenbruck, Hannah Rosenbaum, and Ashton Welch for their excellent research assistance. Financial support from the German Research Foundation (through the CRC-TR-224 project A3 and Leibniz Prize TE966/2-1) is gratefully acknowledged. 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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