pure distributive social systems to general social systems that combine competitive market exchange with the non …

transfers from parents to children are gifts, and not temporary help to overcome liquidity constraints. Second, inter vivos … gifts are compensatory in the sense that life-time poorer children will receive higher transfers than their life-time richer … siblings. Third, inter vivos gifts do not, however, make up the entire difference in life-time incomes. …

transfers from parents to children are gifts, and not temporary help to overcome liquidity constraints. Second, inter vivos … gifts are compensatory in the sense that life-time poorer children will receive higher transfers than their life-time richer … siblings. Third, inter vivos gifts do not, however, make up the entire difference in life-time incomes. …

that inter vivos transfers from parents to children are gifts, and not temporary help to overcome liquidity constraints …. Second, inter vivos gifts are compensatory in the sense that life-time poorer children will receive higher transfers than … their life-time richer siblings. Third, inter vivos gifts do not, however, make up the entire difference in life …

altruism, exchange and risk sharing hypotheses. Econometrical investigations, with Russia Longitudinal Monitoring Survey data … households, the idea of risk sharing is central, whereas in richer households, individual interest (exchange hypothesis) is more …

are gifts, and not temporary help to overcome liquidity constraints. Second, inter vivos gifts are compensatory in the … gifts do not, however, make up the entire difference in life-time incomes. …

, nor for gifts, inheritance and many other services exchanged within families. Such behavior can be derived from three main … transfer. In a second model, altruism is impure as the parents want the child to behave in a certain way: exchange and … from being entirely motivated by direct exchange considerations. …

This paper tests for the motives for private income transfers. We consider two motives: altruism and exchange. The … consistent with exchange. We also find that capital market imperfections are likely to be an important cause of private transfers …

explained either by altruism or by an exchange motive. Though unequal sharing is expected under both hypotheses, under altruism … parents should direct their assistance to less well off children. Analogously, under an exchange motive we expect support to …