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Parental Support for Human Capital Investment by Young Adults

Author

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  • Ermisch, John F

Abstract

The paper develops two models in which parents support their adult child’s human capital investment through financial transfers and/or coresidence. In one, parents are altruistic, and in the other they make loans to children for purely selfish reasons. Econometric estimates using the first four waves of the British Household Panel Study lend more support to the altruistic motivation for support and indicate substitution between the two kinds of support.

Suggested Citation

  • Ermisch, John F, 1996. "Parental Support for Human Capital Investment by Young Adults," CEPR Discussion Papers 1536, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:1536
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    Citations

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    Cited by:

    1. Jellal, Mohamed & Wolff, François Charles, 2003. "Leaving home as a self-selection device," MPRA Paper 38528, University Library of Munich, Germany.
    2. Anne Laferrere, 2005. "Leaving the Nest : The Interaction of Parental Income and Family Environment," Working Papers 2005-01, Center for Research in Economics and Statistics.
    3. Banerjee, Abhijit V., 2004. "Educational policy and the economics of the family," Journal of Development Economics, Elsevier, vol. 74(1), pages 3-32, June.
    4. Gianna Claudia Giannelli & Chiara Monfardini, 2003. "Joint decisions on household membership and human capital accumulation of youths. The role of expected earnings and local markets," Journal of Population Economics, Springer;European Society for Population Economics, vol. 16(2), pages 265-285, May.
    5. David Blanc & François-Charles Wolff, 2006. "Leaving Home in Europe: The Role of Parents’ and Children’s Incomes," Review of Economics of the Household, Springer, vol. 4(1), pages 53-73, March.
    6. Luc Arrondel & François-Charles Wolff, 1998. "La nature des transferts inter vivos en France : investissements humains, aides financières et transmission du patrimoine," Économie et Prévision, Programme National Persée, vol. 135(4), pages 1-27.

    More about this item

    Keywords

    Coresidence; Human Capital; Intergenerational Transfers;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure

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