Altonji, Joseph G.; Hayashi, Fumio; Kotlikoff, Laurence J. - 2008
motivated by altruism. Specifically, the paper tests whether an increase by one dollar in the income of parents actively making … standard altruism model augmented to include uncertainty and liquidity constraints. These additional elements pin down the … heterogeneity across families in the degree of altruism. The findings strongly reject the altruism hypothesis. Redistributing one …