Altonji, Joseph G.; Hayashi, Fumio; Kotlikoff, Laurence J. - 2021
This paper uses PSID data on the extended family to test whether inter vivos transfers from parents to children are … 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 …
