Time and Financial Transfers Within and Beyond the Family: Results From the Health and Retirement Study
AbstractResearch on time and financial transfers is often conducted along two distinct lines—transfers within the family and transfers beyond the family—without considering the fact that the two types of transfers are actually interrelated. Using longitudinal data from the Health and Retirement Study (HRS), this article investigates the links between the time and financial transfers within and beyond the family. The concepts of within and beyond the family transfers are discussed. Several data quality problems with the transfer measures in the HRS are corrected. Focusing on the interrelationships among the four types of transfers, the study finds that the transfers within and beyond the family are complements in the sense that households that are more willing to make within-family transfers are also more willing to make beyond-family transfers, and vice versa. Income and wealth are strong predictors of financial transfers. Black and Hispanic households lag systematically in the generosity to help the people both within and beyond their families.
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Bibliographic InfoPaper provided by EconWPA in its series Labor and Demography with number 0502006.
Length: 30 pages
Date of creation: 23 Feb 2005
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time and financial transfers; transfers within the family; transfers beyond the family; philanthropy and volunteerism; HRS;
Find related papers by JEL classification:
- J - Labor and Demographic Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-04-16 (All new papers)
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