Parental investments significantly impact children’s outcomes. Exploiting panel data covering individuals from birth to retirement, we estimate child skill production functions and embed them into an estimated dynastic model in which altruistic mothers and fathers make investments in their...

We quantify the size and tax-responsiveness of financial transfers made to heirs before death. The wealth of singles (including widows) with children declines substantially in anticipation of death. 92% of this decline is explained by transfers to children, while long-term care copayments can...

This report gives a new and up-to-date picture of the giving and receiving of significant intergenerational wealth transfers during life, summarising the findings of two research papers. New data from the Wealth and Assets Survey (WAS) allow us to build a comprehensive picture of the flow of...

This report describes patterns of financial help from family received by first-time buyers. We quantify the value of gifts and loans made, how they vary across different regions of the country and between those from different parental backgrounds, and shed light on their role in explaining...

We document key patterns in the flow of significant gifts and loans between friends and family in Great Britain, using newly-available data from the Wealth and Assets Survey. We identify a number of new stylised facts. Gifts and loans are generally intergenerational transfers: 83% of the value...

Understanding the drivers of wealth transfers during life is crucial to understanding the intergenerational transmission of inequality, the optimal design of social insurance, and the efficacy of expansionary fiscal policy. To shed light on this, we analyse the relationships between giving and...

Parental investments significantly impact children's outcomes. Exploiting panel data covering individuals from birth to retirement, we estimate child skill production functions and embed them into an estimated dynastic model in which altruistic mothers and fathers make investments in their...