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Time and Money: Social Security Benefits and Intergenerational Transfers

Author

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  • Anita Mukherjee

Abstract

I examine the relationship between Social Security benefits, a major component of income in older age, and intergenerational transfers of financial help and caregiving. I find that the net pass-through rate of Social Security benefits from parents to children is about 15 percent, including only monetary inter vivos transfers. Parents with higher Social Security benefits provide more hours of help to children in the form of grandchild care, even though children significantly withdraw caregiving to parents along this dimension. Taken together, these results are consistent with parental altruism and have strong implications for the distributional consequences of Social Security reform.

Suggested Citation

  • Anita Mukherjee, 2018. "Time and Money: Social Security Benefits and Intergenerational Transfers," AEA Papers and Proceedings, American Economic Association, vol. 108, pages 396-400, May.
    • Handle: RePEc:aea:apandp:v:108:y:2018:p:396-400
    Note: DOI: 10.1257/pandp.20181115
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    Citations

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    Cited by:

    1. Junhao Liu & Anita Mukherjee, 2021. "Medicaid and long‐term care: The effects of penalizing strategic asset transfers," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 88(1), pages 53-77, March.
    2. Edward Martey, 2022. "Blessing or Burden: The Elderly and Household Welfare in Ghana," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 162(2), pages 803-827, July.
    3. Siha Lee & Kegon Teng Kok Tan, 2023. "Bequest Motives and the Social Security Notch," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 888-914, December.
    4. Jue (Jessie) Wang, 2022. "Hire or care: the effects of aging parents on household labor supply," Review of Economics of the Household, Springer, vol. 20(3), pages 921-954, September.
    5. Michael Hatcher & Panayiotis M. Pourpourides, 2023. "Does the impact of private education on growth differ at different levels of credit market development?," Review of Development Economics, Wiley Blackwell, vol. 27(1), pages 291-322, February.
    6. Jessamyn Schaller & Chase Eck, 2019. "Adverse Life Events and Intergenerational Transfers," Upjohn Working Papers 19-309, W.E. Upjohn Institute for Employment Research.

    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth

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