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The Nature of Two-Direction Intergenerational Transfers of Money and Time : An Empirical Analysis

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  • IOANNIDES , Yannis

    (Department of Economics, VPI&SU, USA)

  • KAN , Kamhon

    (CORE, Universite catholique de Louvain and The Institute of EcOnOml(~)

Abstract

This paper studies the nature and pattern of inter vivos two-sided intergenerational transfers of money and time between parents and adult children. We use an analytical model that incorporates altruistic and exchange behavior to describe the interaction between parents and their children. Using the 1988 cross-section of the PSID, we examine empirically the existence of altruism and exchange between two successive generations. The empirical findings support the notion that intergenerational transfers are motivated by altruism. They do not support the presence of an exchange motive.

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Bibliographic Info

Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1994033.

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Date of creation: 01 Aug 1994
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Handle: RePEc:cor:louvco:1994033

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Keywords: Inter vivos intergenerational transfers; Altruism; Exchange;

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Cited by:
  1. Nizalova, Olena Y., 2010. "The Wage Elasticity of Informal Care Supply: Evidence from the Health and Retirement Study," IZA Discussion Papers 5192, Institute for the Study of Labor (IZA).
  2. Joseph G. Altonji & Fumio Hayashi & Laurence Kotlikoff, . "The Effects of Income and Wealth on Time and MOney Transfers Between Parents and Children," IPR working papers 96-5, Institute for Policy Resarch at Northwestern University.
  3. CARDIA, Emanuela & MICHEL, Philippe, 2003. "Altruism, Intergenerational Transfers of Time and Bequests," Cahiers de recherche 2003-04, Universite de Montreal, Departement de sciences economiques.
  4. Altonji, Joseph G & Hayashi, Fumio & Kotlikoff, Laurence J, 1997. "Parental Altruism and Inter Vivos Transfers: Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 105(6), pages 1121-66, December.
  5. Donald Cox & Bruce E. Hansen & Emmanuel Jimenez, 1997. "How Responsive are Private Transfers to Income? Evidence from a Laissez-Faire Economy," Boston College Working Papers in Economics 341., Boston College Department of Economics, revised 01 Dec 1999.

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