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Is it true love? Altruism versus exchange in time and money transfers

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Author Info

  • Giacomo Pasini

    ()
    (Department of Economics, University Of Venice Cà Foscari)

  • Rob Alessie

    (University of Groningen)

  • Viola Angelini

    (University of Groningen)

Abstract

This paper investigates what motivates intergenerational time and money transfers. We consider a model in which transfers may be driven not only by altruism, but also by exchange considerations. We use data from the Survey of Health, Ageing and Retirement in Europe (SHARE) to discriminate between the two motives. We show that both if we consider money transfers from parents to children and time transfers from children to parents, the empirical evidence rejects pure altruism in favor of exchange.

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File URL: http://www.unive.it/media/allegato/DIP/Economia/Working_papers/Working_papers_2011/WP_DSE_alessie_angelini_pasini_27_11.pdf
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Bibliographic Info

Paper provided by Department of Economics, University of Venice "Ca' Foscari" in its series Working Papers with number 2011_27.

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Length: 43
Date of creation: 2011
Date of revision:
Handle: RePEc:ven:wpaper:2011_27

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Keywords: Intergenerational transfers; altruism; exchange;

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  1. Maxim Engers & Steven Stern, 2002. "Long-Term Care and Family Bargaining," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(1), pages 73-114, February.
  2. Stefan Hochguertel & Henry Ohlsson, 2001. "Compensatory Inter Vivos Gifts," Macroeconomics 0012006, EconWPA.
  3. 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..
  4. Julie Zissimopoulos & James P. Smith, 2009. "Unequal Giving: Monetary Gifts to Children Across Countries and Over Time," Working Papers 723, RAND Corporation Publications Department.
  5. Joseph G. Altonji & Fumio Hayashi & Laurence J. Kotlikoff, 1995. "Parental Altruism and Inter Vivos Transfers: Theory and Evidence," Boston University - Institute for Economic Development 65, Boston University, Institute for Economic Development.
  6. Lisa Callegaro & Giacomo Pasini, 2007. "Social interaction effects in an inter-generational model of informal care giving," Working Papers 2007_10, Department of Economics, University of Venice "Ca' Foscari".
  7. Ernesto Villanueva, 2001. "Parental altruism under imperfect information: Theory and evidence," Economics Working Papers 566, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2002.
  8. Madden, David, 2006. "Sample Selection Versus Two-Part Models Revisited: The Case of Female Smoking and Drinking," Papers HRBWP23, Economic and Social Research Institute (ESRI).
  9. Sloan, Frank & Harold H. Zhang, 1995. "Upstream Intergenerational Transfers," Working Papers 95-15, Duke University, Department of Economics.
  10. Wolff, Francois-Charles, 2006. "Microeconomic models of family transfers," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier.
  11. Viola Angelini, 2007. "The strategic bequest motive: evidence from SHARE," "Marco Fanno" Working Papers 0062, Dipartimento di Scienze Economiche "Marco Fanno".
  12. 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.
  13. Cox, Donald, 1987. "Motives for Private Income Transfers," Journal of Political Economy, University of Chicago Press, vol. 95(3), pages 508-46, June.
  14. H. Elizabeth Peters & A. Sinan Unur & Jeremy Clark & William D. Schulze, 2004. "Free-Riding and the Provision of Public Goods in the Family: A Laboratory Experiment," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 45(1), pages 283-299, 02.
  15. 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.
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