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Forward and Backward Intergenerational Goods : A Theory of Intergenerational Exchange
Rangel, Antonio - 2022
-dynastic altruism. The main building blocks of the theory are forward and backward intergenerational goods (FIGs and BIGs) and the …
Persistent link: https://www.econbiz.de/10014157067
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The Abcs of Charitable Solicitation
Meer, Jonathan - 2010
A substantial experimental literature suggests that a personal solicitation is an effective way to induce people to make charitable donations. We examine whether this result generalizes to a non-experimental setting. Specifically, we estimate the effect of a marginal personal solicitation using...
Persistent link: https://www.econbiz.de/10013152572
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Why Parents Play Favorites : Explanations for Unequal Bequests
Light, Audrey; McGarry, Kathleen M. - 2021
empirical work testing the seemingly appealing models of altruism and exchange has led to decidedly mixed results. A major … question that directly asks mother about the planned division of their estates. We find that both altruism and exchange are …
Persistent link: https://www.econbiz.de/10013215686
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The Effects of Income and Wealth on Time and Money Transfers between Parents and Children
Altonji, Joseph G.; Hayashi, Fumio; Kotlikoff, Laurence J. - 2021
We use the 1988 PSID to study the effects of income and wealth on transfers of money and time between individuals and their parents as well as the effects of incomes of other relatives on these flows. We relate the relative incomes of parents and parents in-law to transfer amounts given and...
Persistent link: https://www.econbiz.de/10013217207
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Making Bequests Without Spoiling Children : Bequests as an Implicit Optimal Tax Structure and the Possibility that Altruistic Bequests are Not Equaliz
Kotlikoff, Laurence J.; Razin, Assaf - 2021
This paper examines the bequest\gift behavior of altruistic parents who do not know their children's abilities and cannot observe their children's work effort. Parents are likely to respond to this information problem by making larger bequests to higher earning children and by using their...
Persistent link: https://www.econbiz.de/10013222309
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Dynamic Efficiency in the Gifts Economy
O'Connell, Stephen A.; Zeldes, Stephen P. - 2021
In the standard analysis of an overlapping generations economy with gifts from children to parents, each generation takes the actions of all other generations as given. The resulting "simultaneous moves" equilibrium is dynamically inefficient. In reality, however, parents precede children in...
Persistent link: https://www.econbiz.de/10013232439
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Bequests as Signals : An Explanation for the Equal Division Puzzle
Bernheim, B. Douglas; Severinov, Sergei - 2021
In the United States, more than two-thirds of decedents with multichild families divide their estates exactly equally among their children. In contrast, intra vivos gifts are usually unequal. These findings challenge the validity of existing theories regarding the determination of...
Persistent link: https://www.econbiz.de/10013233015
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Testing Parental Altruism : Implications of a Dynamic Model
McGarry, Kathleen M. - 2021
Each year parents transfer a great deal of money to their adult children. While intuition might suggest that these transfers are altruistic and made out of concern for the well-being of the children, the fundamental prediction of the altruistic model has been decisively rejected in empirical...
Persistent link: https://www.econbiz.de/10013235869
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Parental Altruism and Inter Vivos Transfers : Theory and Evidence
Altonji, Joseph G.; Hayashi, Fumio; Kotlikoff, Laurence J. - 2021
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 uncertain and liquidity constraints. These additional elements pin down the timing … heterogeneity across families in the degree of altruism. The findings strongly reject the altruism hypothesis. Redistributing one …
Persistent link: https://www.econbiz.de/10013240529
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Dynamic Aspects of Family Transfers
McGarry, Kathleen M. - 2012
Each year parents transfer a great deal of money to their adult children. While intuition might suggest that these transfers are altruistic and made out of concern for the well-being of the children, empirical tests of the model have consistently yielded negative results. However, an important...
Persistent link: https://www.econbiz.de/10013099538