Upstream Intergenerational Transfers
AbstractThis study analyzes upstream intergenerational transfers from middle-ages children to their elderly parents. We formulate a model in which the middle-aged child transfers both money and time to an elderly parent, based on an altruistic motive. We test the altruistic assumption empirically and examine substitution between financial transfers and time transfers using data from the Health and Retirement Survey (HRS). Empirical results support the assumption that upstream transfers are motivated by altruism, particularly financial transfers. Poor parents receive more money. Overall, the results of time transfers provide less strong support for our model. A child with a high way tends to transfer money rather than time. Our findings on time transfers differ from predictions of models based on exchange motives. Public subsidies of nursing home care crowd out both private financial and time transfers.
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Bibliographic InfoPaper provided by Carnegie Mellon University, Tepper School of Business in its series GSIA Working Papers with number 1995-27.
Length: 35 pages
Date of creation: 1995
Date of revision:
Contact details of provider:
Postal: Tepper School of Business, Carnegie Mellon University, 5000 Forbes Avenue, Pittsburgh, PA 15213-3890
Web page: http://www.tepper.cmu.edu/
Other versions of this item:
- D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy
- I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
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