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Family Support in Hard Times: Dynamics of Intergenerational Exchange after Adverse Events

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  • Jessamyn Schaller
  • Chase S. Eck

Abstract

We use an event-study approach to examine changes in intergenerational financial transfers and informal care within families following wealth loss, job exit, widowhood, and health shocks. We find sharp reductions in parental giving to adult children following negative shocks to parents' wealth and earned income, particularly in low-wealth households. Parental giving also decreases with some health shocks and increases following spousal death. Meanwhile, children of low-wealth households increase financial transfers to their parents following adverse shocks and children in both high- and low-wealth households increase their provision of informal care to parents following a wide range of adverse shocks.

Suggested Citation

  • Jessamyn Schaller & Chase S. Eck, 2020. "Family Support in Hard Times: Dynamics of Intergenerational Exchange after Adverse Events," NBER Working Papers 28295, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:28295
    Note: AG CH EH LS PE
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    Cited by:

    1. Solveig A. Cunningham & Gloria L. Beckles & Jannie Nielsen, 2022. "Declines in Health and Support Between Parents and Adult Children: Insights from Diabetes," Population Research and Policy Review, Springer;Southern Demographic Association (SDA), vol. 41(4), pages 1699-1723, August.

    More about this item

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving
    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • I10 - Health, Education, and Welfare - - Health - - - General
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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