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Family Events and Timing of Intergenerational Transfers

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  • Thomas Leopold
  • Thorsten Schneider
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    Abstract

    This research investigates how family events in adult children's lives influence the timing of their parents' financial transfers. We draw on retrospective data collected by the German Socio-Economic Panel Study (SOEP) and use event history models to study the effects of marriage, divorce, and childbirth on receiving large gifts from parents. We find increased chances of receiving gifts of houses or land at marriage and in the following years, at childbirth, but not at divorce. Large gifts of money are received in the year of marriage and also in the year of divorce. Our findings, on the onehand, indicate that parental gifts are triggered by adult children's economic need. On the other hand, they point to a plurality of givers' transfer motives and highlight the meanings of different types of wealth for parents, adult children, andtheir relationships.

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    File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.363381.de/diw_sp0327.pdf
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    Bibliographic Info

    Paper provided by DIW Berlin, The German Socio-Economic Panel (SOEP) in its series SOEPpapers on Multidisciplinary Panel Data Research with number 327.

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    Length: p.
    Date of creation: 2010
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    Handle: RePEc:diw:diwsop:diw_sp327

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    1. Cox, Donald & Stark, Oded, 2005. "On the demand for grandchildren: tied transfers and the demonstration effect," Journal of Public Economics, Elsevier, Elsevier, vol. 89(9-10), pages 1665-1697, September.
    2. Wilhelm, M.O., 1990. "Bequest Behavior And The Effect Of Heirs' Earnings: Testing The Altruistic Model Of Bequests," Papers, Pennsylvania State - Department of Economics 9-90-12, Pennsylvania State - Department of Economics.
    3. Kathleen McGarry & Robert F. Schoeni, 1995. "Transfer Behavior within the Family: Results from the Asset and Health Dynamics Survey," NBER Working Papers 5099, National Bureau of Economic Research, Inc.
    4. Gert G. Wagner & Joachim R. Frick & Jürgen Schupp, 2007. "The German Socio-Economic Panel Study (SOEP) – Scope, Evolution and Enhancements," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, Duncker & Humblot, Berlin, vol. 127(1), pages 139-169.
    5. Cox, Donald, 1987. "Motives for Private Income Transfers," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 95(3), pages 508-46, June.
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