Testing the altruism hypothesis with italian cohort data
In this paper I follow Abel and Kotlikoff 1994 non-parametric approach based on consumption cohort data to test for intergenerational altruism among Italian households. The Italian socio-economic framework represents an interesting ground to test for the Barro’s 1974 model given the stronger family linkages usually present among Italian households. All tests reject altruism. Further, I evaluate how restrictive is the assumption of a zero correlation between the clan’s Euler errors and the demographic structure of the clan. I find no evidence of any major role played by the age composition of the clan and conclude that the zero correlation assumption is reasonable.
|Date of creation:||15 Jan 2008|
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- Joseph G. Altonji & Aloysius Siow, 1987.
"Testing the Response of Consumption to Income Changes with (Noisy) Panel Data,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 102(2), pages 293-328.
- Joseph G. Altonji & Aloysius Siow, 1986. "Testing the Response of Consumption to Income Changes with (Noisy) PanelData," NBER Working Papers 2012, National Bureau of Economic Research, Inc.
- Laurence J. Kotlikoff, 1987.
"Intergenerational Transfers and Savings,"
NBER Working Papers
2237, National Bureau of Economic Research, Inc.
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