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Parental wealth and resource transfers : How they matter in France for home ownership and living standards

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  • Seymour Spilerman

    (Department of Sociology at Columbia - Department of Sociology at Columbia)

  • François-Charles Wolff

    (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Université de Nantes : EA4272, INED - Institut National d'Etudes Démographiques Paris - INED)

Abstract

The role played by parental wealth in facilitating the life chances and living standards of offspring is a topic of growing interest in stratification research. The addition of household wealth to the parental resource portfolio opens new issues with respect to mechanisms in the transmission of advantage across generations, since wealth transfers can take place at different points along the life course, in varying amounts, and for different purposes. This paper examines the impact of parental wealth and transfers of wealth on several aspects of the homeownership decision--the timing of the purchase, the cost of the home, and the downpayment proportion, as well as living standards subsequent to the purchase. We utilize a unique data set from France which contains information on parental wealth and wealth transfers from both sets of parents of a couple, as well as details on the timing of transfers in relation to a home purchase. The results make clear the complex pathways by which parental wealth influences the tenancy arrangements and living standards of offspring.

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Paper provided by HAL in its series Working Papers with number hal-00678988.

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Date of creation: 14 Mar 2012
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Handle: RePEc:hal:wpaper:hal-00678988

Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00678988
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  1. Gourieroux Christian & Monfort Alain & Renault E & Trognon A, 1985. "Simulated residuals," CEPREMAP Working Papers (Couverture Orange) 8502, CEPREMAP.
  2. Lindh, Thomas & Ohlsson, Henry, 1998. "Self-Employment and Wealth Inequality," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 44(1), pages 25-42, March.
  3. Gary V. Engelhardt & Christopher J. Mayer, 1995. "Intergenerational transfers, borrowing constraints, and saving behavior: evidence from the housing market," Working Papers, Federal Reserve Bank of Boston 95-11, Federal Reserve Bank of Boston.
  4. Pietro Catte & Nathalie Girouard & Robert W.R. Price & Christophe André, 2004. "Housing Markets, Wealth and the Business Cycle," OECD Economics Department Working Papers 394, OECD Publishing.
  5. Chiuri, Maria Concetta & Jappelli, Tullio, 2001. "Financial Market Imperfections and Home Ownership: A Comparative Study," CEPR Discussion Papers 2717, C.E.P.R. Discussion Papers.
  6. Arrondel, Luc & Lefebvre, Bruno, 2001. "Consumption and Investment Motives in Housing Wealth Accumulation: A French Study," Journal of Urban Economics, Elsevier, vol. 50(1), pages 112-137, July.
  7. Barrett Lee & R. Oropesa & James Kanan, 1994. "Neighborhood Context and Residential Mobility," Demography, Springer, vol. 31(2), pages 249-270, May.
  8. Florencia Torche & Seymour Spilerman, 2005. "Parental Wealth Effects on Living Standards and Asset Holdings: Results from Chile," Labor and Demography, EconWPA 0501005, EconWPA, revised 17 Jan 2005.
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Cited by:
  1. Fabian T. Pfeffer & Martin Hällsten, 2012. "Mobility Regimes and Parental Wealth: The United States, Germany, and Sweden in Comparison," SOEPpapers on Multidisciplinary Panel Data Research 500, DIW Berlin, The German Socio-Economic Panel (SOEP).

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