The Strategic Bequest Motive

Bernheim, B. Douglas; Shleifer, Andrei; Summers, Lawrence H.

doi:10.1086/298126

Cited by 644 publications

(654 citation statements)

References 19 publications

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“…Bernheim et al, 1985;Cox, 1987;Cox and Jakubson, 1995;Guiso and Jappelli, 2002) and co-residence (e.g. Wolf and Soldo, 1989;Ermisch and Di Salvo, 1997) separately.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Parents’ economic support of young-adult children: do socioeconomic circumstances matter?

Cobb‐Clark

Gørgens

2013

J Popul Econ

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post Foundation. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E SIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author. This paper assesses how the economic support provided by parents to young adults as they complete their education and enter the labor market is related to the family's socioeconomic circumstances. We address this issue using detailed survey data on intergenerational coresidence and financial transfers merged with nearly a decade of administrative data on the family's welfare receipt while the young person was growing up. We find that young people who experience socioeconomic disadvantage are more likely to be residentially and financially independent of their parents than are their peers growing up in more advantaged circumstances. This disparity is larger for financial transfers than for co-residence and increases as young people age. Moreover, there is a clear link between parental support and a young person's engagement in study and work which is generally stronger at age 20 than at age 18 and is often stronger for advantaged than for disadvantaged youths. We find no evidence, however, that a lack of parental support explains the socioeconomic gradient in either studying or employment.JEL Classification: J12, J13, J22, J24

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“…Bernheim et al, 1985;Cox, 1987;Cox and Jakubson, 1995;Guiso and Jappelli, 2002) and co-residence (e.g. Wolf and Soldo, 1989;Ermisch and Di Salvo, 1997) separately.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Parents’ economic support of young-adult children: do socioeconomic circumstances matter?

Cobb‐Clark

Gørgens

2013

J Popul Econ

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“…Cash transfers given today might be repaid, in cash or in kind, in future years. Economists have recently begun to apply the exchange idea in a variety of settings, including household production (McElroy and Horney 1981), private annuity insurance (Kotlikoff and Spivak 1981), and the exchange of cash for in-kind services (Bernheim, Shleifer, and Summers 1985;Cox 1987).…”

Section: Motives For Private Transfersmentioning

confidence: 99%

ACHIEVING SOCIAL OBJECTIVES THROUGH PRIVATE TRANSFERS: A Review

Cox¹,

Jiménez²

1990

World Bank Res Obs

138

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“…They might do so out of pure altruism or rather because they are, or expect to be, compensated by their parents. This latter type of motivation has been discussed in the literature on exchange motives for bequest, as for example in early works by Bernheim et al (1985) and Cox (1987). More recently, using SHARE data, Alessie et al (2011) have shown that both altruism and exchange motives matter for long term care provision and inter-vivos financial transfers.…”

Section: Why Do Adult Children Care For Older Parents?mentioning

confidence: 84%