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Identity and Private Transfers of Time and Money

Author

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  • Nicińska Anna

    (University of Warsaw, Faculty of Economic Sciences, Długa 44/50, 00-921 Warsaw, Poland)

Abstract

We introduce the perspective of identity economics to a formal model of rational choice of private transfers to examine the impact of geographical proximity on optimal time and money transfers within and outside of families. We argue that identities affect private transfers through the internalization of social norms governing informal support and incorporate in the formal model the fact that time, unlike money transfers, demands face-to-face presence. We solve the utility maximization problem and derive propositions concerning factors affecting transfers. Then we test them empirically using longitudinal and cross-sectional data from the Survey on Health, Ageing and Retirement in Europe. We address the possible endogeneity with instrumental variables. Empirical results based on transfers from family members and unrelated individuals are suggestive of a significant role of identity in private transfers in line with the theoretical model. We find that geographical proximity enhances time, but not money, transfers. Our results yield evidence for a stronger role of emotional rather than genetic proximity in interhousehold transfers.

Suggested Citation

  • Nicińska Anna, 2022. "Identity and Private Transfers of Time and Money," Central European Economic Journal, Sciendo, vol. 9(56), pages 191-218, January.
    • Handle: RePEc:vrs:ceuecj:v:9:y:2022:i:56:p:191-218:n:1
    DOI: 10.2478/ceej-2022-0012
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    References listed on IDEAS

    as
    1. Benjamin Cornwell & L. Philip Schumm & Edward O. Laumann & Jessica Graber, 2009. "Social Networks in the NSHAP Study: Rationale, Measurement, and Preliminary Findings," The Journals of Gerontology: Series B, The Gerontological Society of America, vol. 64(suppl_1), pages 47-55.
    2. George A. Akerlof & Rachel E. Kranton, 2000. "Economics and Identity," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(3), pages 715-753.
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    More about this item

    Keywords

    private transfers; intergenerational transfers; emotional proximity; confidant network; kinship;
    All these keywords.

    JEL classification:

    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J19 - Labor and Demographic Economics - - Demographic Economics - - - Other

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