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Parental Support for Human Capital Investment by Young Adults

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  • Ermisch, John F

Abstract

The paper develops two models in which parents support their adult child’s human capital investment through financial transfers and/or coresidence. In one, parents are altruistic, and in the other they make loans to children for purely selfish reasons. Econometric estimates using the first four waves of the British Household Panel Study lend more support to the altruistic motivation for support and indicate substitution between the two kinds of support.

Suggested Citation

  • Ermisch, John F, 1996. "Parental Support for Human Capital Investment by Young Adults," CEPR Discussion Papers 1536, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:1536
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    Citations

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    Cited by:

    1. Mohamed Jellal & FranÁois-Charles Wolff, 2003. "Leaving Home as a Self-selection Device," Economica, London School of Economics and Political Science, vol. 70(279), pages 423-438, August.
    2. Abhijit Banerjee, 2007. "Educational Policy and the Economics of the Family," Working Papers id:1186, eSocialSciences.
    3. Gianna Claudia Giannelli & Chiara Monfardini, 2003. "Joint decisions on household membership and human capital accumulation of youths. The role of expected earnings and local markets," Journal of Population Economics, Springer;European Society for Population Economics, vol. 16(2), pages 265-285, May.
    4. David Blanc & François-Charles Wolff, 2006. "Leaving Home in Europe: The Role of Parents’ and Children’s Incomes," Review of Economics of the Household, Springer, vol. 4(1), pages 53-73, March.
    5. Luc Arrondel & François-Charles Wolff, 1998. "La nature des transferts inter vivos en France : investissements humains, aides financières et transmission du patrimoine," Économie et Prévision, Programme National Persée, vol. 135(4), pages 1-27.
    6. Banerjee, Abhijit V., 2004. "Educational policy and the economics of the family," Journal of Development Economics, Elsevier, vol. 74(1), pages 3-32, June.

    More about this item

    Keywords

    Coresidence; Human Capital; Intergenerational Transfers;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure

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