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Parental wealth and resource transfers : How they matter in France for home ownership and living standards

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  • Seymour Spilerman

    (Department of Sociology at Columbia - Department of Sociology at Columbia)

  • François-Charles Wolff

    (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - UN - Université de Nantes, INED - Institut national d'études démographiques)

Abstract

The role played by parental wealth in facilitating the life chances and living standards of offspring is a topic of growing interest in stratification research. The addition of household wealth to the parental resource portfolio opens new issues with respect to mechanisms in the transmission of advantage across generations, since wealth transfers can take place at different points along the life course, in varying amounts, and for different purposes. This paper examines the impact of parental wealth and transfers of wealth on several aspects of the homeownership decision--the timing of the purchase, the cost of the home, and the downpayment proportion, as well as living standards subsequent to the purchase. We utilize a unique data set from France which contains information on parental wealth and wealth transfers from both sets of parents of a couple, as well as details on the timing of transfers in relation to a home purchase. The results make clear the complex pathways by which parental wealth influences the tenancy arrangements and living standards of offspring.

Suggested Citation

  • Seymour Spilerman & François-Charles Wolff, 2012. "Parental wealth and resource transfers : How they matter in France for home ownership and living standards," Working Papers hal-00678988, HAL.
  • Handle: RePEc:hal:wpaper:hal-00678988 Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00678988
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    7. Engelhardt, Gary V. & Mayer, Christopher J., 1998. "Intergenerational Transfers, Borrowing Constraints, and Saving Behavior: Evidence from the Housing Market," Journal of Urban Economics, Elsevier, vol. 44(1), pages 135-157, July.
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    11. Florencia Torche & Seymour Spilerman, 2006. "Parental Wealth Effects on Living Standards and Asset Holdings: Results from Chile," Chapters,in: International Perspectives on Household Wealth, chapter 10 Edward Elgar Publishing.
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    Cited by:

    1. Fabian T. Pfeffer & Martin Hällsten, 2012. "Mobility Regimes and Parental Wealth: The United States, Germany, and Sweden in Comparison," SOEPpapers on Multidisciplinary Panel Data Research 500, DIW Berlin, The German Socio-Economic Panel (SOEP).
    2. Yukutake, Norifumi & Iwata, Shinichiro & Idee, Takako, 2015. "Strategic interaction between inter vivos gifts and housing acquisition," Journal of the Japanese and International Economies, Elsevier, vol. 35(C), pages 62-77.
    3. Begley, Jaclene, 2017. "Legacies of homeownership: Housing wealth and bequests," Journal of Housing Economics, Elsevier, vol. 35(C), pages 37-50.
    4. Korom, Philipp, 2017. "Ungleiche Mittelschichten: Über Unterschiede im Immobilienvermögen und im Erbe innerhalb der Mitte Deutschlands," MPIfG Discussion Paper 17/14, Max Planck Institute for the Study of Societies.
    5. Albertini,Marco, 2016. "Ageing and family solidarity in Europe : patterns and driving factors of intergenerational support," Policy Research Working Paper Series 7678, The World Bank.
    6. B. Garbinti, 2014. "Do Gifts and Bequests Facilitate Homeownership and Firm Creation?," Documents de Travail de la DESE - Working Papers of the DESE g2014-02, Institut National de la Statistique et des Etudes Economiques, DESE.
    7. d’Albis, Hippolyte & Bonnet, Carole & Navaux, Julien & Pelletan, Jacques & Wolff, François-Charles, 2015. "Le déficit de cycle de vie en France: une évaluation pour la période 1979-2011," CEPREMAP Working Papers (Docweb) 1513, CEPREMAP.
    8. Hällsten, Martin & Pfeffer, Fabian T., 2017. "Grand advantage: family wealth and grandchildren's educational achievement in Sweden," Working Paper Series 2017:3, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    9. Hippolyte D'Albis & Carole Bonnet & Julien Navaux & Jacques Pelletan & François-­charles Wolff, 2017. "Le déficit de cycle de vie en France : une évaluation pour la période 1979-2001," Post-Print halshs-01599680, HAL.

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