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Private Financial Transfers, the Great Recession, and Family Context

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Author Info

  • Aaron Gottlieb

    (Princeton University)

  • Natasha V. Pilkauskas

    (Columbia University)

  • Irwin Garfinkel

    (Columbia University)

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    Abstract

    Using longitudinal data from the Fragile Families and Child Wellbeing Study (N=16,156), we study private financial transfers among mothers with young children. We describe patterns of transfers over time and explore whether the Great Recession influenced transfer behaviors. We find that the great majority of mothers participate in transfers at some point between years 1 and 9 of their child’s life. We also find that an increase in the unemployment rate is associated with higher odds of receiving a transfer and an increase in transfer dollars received. We find few differences in the association between the unemployment rate and transfers by mother’s family structure. In comparison, we find that poor and near poor mothers, those most likely impacted by the Great Recession, increased both their likelihood of receiving a transfer and the amount received whereas mothers earning between two and three times the poverty threshold reduced transfer dollars received.

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    File URL: http://crcw.princeton.edu/workingpapers/WP13-06-FF.pdf
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    Bibliographic Info

    Paper provided by Princeton University, Woodrow Wilson School of Public and International Affairs, Center for Research on Child Wellbeing. in its series Working Papers with number 1455.

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    Date of creation: May 2013
    Date of revision:
    Handle: RePEc:pri:crcwel:wp13-06-ff

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    Related research

    Keywords: family wealth; great recession; young children; mothers; tranfers;

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    1. 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.
    2. Reichman, Nancy E. & Teitler, Julien O. & Garfinkel, Irwin & McLanahan, Sara S., 2001. "Fragile Families: sample and design," Children and Youth Services Review, Elsevier, vol. 23(4-5), pages 303-326.
    3. Xuewen Sheng & Timothy Killian, 2009. "Over Time Dynamics of Monetary Intergenerational Exchanges," Journal of Family and Economic Issues, Springer, vol. 30(3), pages 268-281, September.
    4. Schoeni, Robert F, 1997. "Private Interhousehold Transfers of Money and Time: New Empirical Evidence," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 43(4), pages 423-48, December.
    5. Beverly, Sondra G. & Sherraden, Michael, 1999. "Institutional determinants of saving: implications for low-income households and public policy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 28(4), pages 457-473.
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