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Family Institution and Filial Attention Contract

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Author Info
Jellal, Mohamed

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Abstract

In this paper, we examine the pure exchange motive for intergenerational transfers within the family. We consider a model where a selfish parent offers a financial transfer in exchange for the services of the child. Using a Stackelberg game, we study the optimal attention-money contract between the generations. We prove that the amount of gift received may be either positively or negatively related with the child's income. In addition, the relationship between the two variables is non linear and affected by the parent's degree of risk aversion. This nonlinearity, which has been largely neglected to date in empirical analyses, may explain why the exchange transfer motive has received little support in developed countries.

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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 17713.

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Date of creation: 03 Oct 2009
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Handle: RePEc:pra:mprapa:17713

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Related research
Keywords: Family; Filial Attention; Care; intergenerational Transfers; Incentives;

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Find related papers by JEL classification:
J10 - Labor and Demographic Economics - - Demographic Economics - - - General
J19 - Labor and Demographic Economics - - Demographic Economics - - - Other
J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
D1 - Microeconomics - - Household Behavior

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References listed on IDEAS
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  1. Cox, Donald, 1987. "Motives for Private Income Transfers," Journal of Political Economy, University of Chicago Press, vol. 95(3), pages 508-46, June. [Downloadable!] (restricted)
  2. Sloan, Frank & Gabriel Picone & Thomas J. Hoerger, 1995. "The Supply of Children's Time to Disabled Elderly Parents," Working Papers 95-46, Duke University, Department of Economics.
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  3. Becker, Gary S & Murphy, Kevin M, 1988. "The Family and the State," Journal of Law & Economics, University of Chicago Press, vol. 31(1), pages 1-18, April.
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  4. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec.. [Downloadable!] (restricted)
  5. Steven Stern & Bridget Hiedemann, 1999. "Strategic Play Among Family Members When Making Long-Term Care Decisions," Virginia Economics Online Papers 321, University of Virginia, Department of Economics. [Downloadable!]
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  6. Bernheim, B Douglas & Shleifer, Andrei & Summers, Lawrence H, 1985. "The Strategic Bequest Motive," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1045-76, December. [Downloadable!] (restricted)
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  7. Cox, Donald & Rank, Mark R, 1992. "Inter-vivos Transfers and Intergenerational Exchange," The Review of Economics and Statistics, MIT Press, vol. 74(2), pages 305-14, May. [Downloadable!] (restricted)
  8. Cox, Donald & Jakubson, George, 1995. "The connection between public transfers and private interfamily transfers," Journal of Public Economics, Elsevier, vol. 57(1), pages 129-167, May. [Downloadable!] (restricted)
  9. Wolff, Francois-Charles, 2001. "Private Intergenerational Contact in France and the Demonstration Effect," Applied Economics, Taylor and Francis Journals, vol. 33(2), pages 143-53, February. [Downloadable!] (restricted)
  10. Cox, Donald, 1990. "Intergenerational Transfers and Liquidity Constraints," The Quarterly Journal of Economics, MIT Press, vol. 105(1), pages 187-217, February. [Downloadable!] (restricted)
  11. Altonji, Joseph G & Hayashi, Fumio & Kotlikoff, Laurence J, 1997. "Parental Altruism and Inter Vivos Transfers: Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 105(6), pages 1121-66, December.
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