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Altruism, Intergenerational Transfers of Time and Bequests Author info | Abstract | Publisher info | Download info | Related research | Statistics CARDIA, Emanuela
MICHEL, Philippe
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This paper uses a standard two-period overlapping generation model to examine the behavior of an economy where both intergenerational transfers of time and bequests are available. While bequests have been examined extensively, time transfers have received little or no attention in the literature. Assuming a log-linear utility function and a Cobb-Douglas production function, we derive an explicit solution for the dynamics and show that altruistic intergenerational time transfers can take place in presence of a binding non-negativity constraint on bequests. We also show that with either type of transfers capital is an increasing function of the intergenerational degree of altruism. However, while with time transfers the labor supply of the young increases with the degree of altruism, with bequests it may decrease
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Paper provided by Universite de Montreal, Departement de sciences economiques in its series Cahiers de recherche with number
2003-04.
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Length: 29 pages
Date of creation: 2003Date of revision:
Handle: RePEc:mtl:montde:2003-04Contact details of provider: Postal: CP 6128, Succ. Centre-Ville, Montr�al, Qu�bec, H3C 3J7 Phone: (514) 343-6540 Fax: (514) 343-5831 Web page: http://www.sceco.umontreal.ca More information through EDIRC
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Keywords: Altruism ; time transfers ; bequests ; Other versions of this item:
Find related papers by JEL classification: J1 - Labor and Demographic Economics - - Demographic Economics J2 - Labor and Demographic Economics - - Demand and Supply of Labor D9 - Microeconomics - - Intertemporal Choice and Growth
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Michel, Philippe, 1990.
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" Intergenerational Altruism and the Environment ,"
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Other versions:
Jouvet, P.-A. & Michel, P. & Vidal, J.-P., 1999.
"Intergenerational Altruism and the Environment ,"
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[Downloadable!] (restricted)
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Abdelkrim Seghir & Juan Torres-Martínez, 2008.
"Wealth transfers and the role of collateral when lifetimes are uncertain ,"
Economic Theory ,
Springer, vol. 36(3), pages 471-502, September.
[Downloadable!] (restricted)
Other versions: Rydell, Ingrid, 2005.
"Equity, Justice, Interdependence: Intergenerational Transfers and the Ageing Population ,"
Arbetsrapport
2005:5, Institute for Futures Studies.
[Downloadable!]
Atsue Mizushima, 2007.
"Intergenerational Transfers of Time and Public Long-term Care with an Aging Population ,"
Discussion Papers in Economics and Business
07-04, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
[Downloadable!]
Other versions: Elisabeth Hermann Frederiksen, 2006.
"Spending Natural Resource Revenues in an Altruistic Growth Model ,"
EPRU Working Paper Series
06-09, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
[Downloadable!]
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