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This study examines the intergenerational consequences of court-imposed monetary sanctions for parents and children. Research on punishment and families has generally focused on imprisonment, yet monetary sanctions are far more commonly imposed. We extend research on intergenerational financial exchanges to conceptualize payment of monetary sanctions as stigmatized transfers, analyzing 70 semi-structured interviews with debtholders in Minnesota. Adult children reported perceiving anger and financial strain from family members who provide assistance. Those with minor children expressed hopelessness, stress, and financial strain, as they prioritized basic needs over meeting their outstanding financial obligations. We conclude by discussing the implications of these intergenerational impacts for research, law, and policy. [ABSTRACT FROM AUTHOR]

The Dutch government implemented two changes to the taxation of intergenerational transfers aimed at mortgage down payments and prepayments. We identify the effects of these tax exemptions on prepayments and inter vivos transfers separately by taking advantage of the changes in policy design. The policy changes resulted in two expansions of tax‐exempt transfers, which increased the probability of receiving such transfers, translating into a modest increase in prepayments. Initially, the amounts prepaid increased by a similar magnitude, while the second policy change only resulted in an increase in the amounts being transferred but not the prepayments. The macroprudential policy goal was to reduce the number of underwater mortgages, but the policy was too generic and did not help to achieve this. The prepayments triggered by the policy change increased mostly for borrowers with low original loan‐to‐value ratios, implying that most transfers were made from wealthy parents to housing‐rich children. [ABSTRACT FROM AUTHOR]

Using three waves of the China Health and Retirement Longitudinal Study, this paper examines whether financial transfers from adult children to elderly parents affect the latter's mental health. Both OLS and instrumental variable (IV) estimates show that financial transfers significantly attenuate depressive symptoms of elderly individuals, with a much larger size of the IV estimates. We also examine the income and cultural channels through which intergenerational transfers work and further discuss the explanatory powers of these two channels through a decomposition analysis. The results suggest the cultural channel accounts for a larger proportion of the financial transfer effect. This means that the unique beneficial impact of intergenerational financial transfers on the mental health of older adults cannot be fully substituted in the foreseeable future. [ABSTRACT FROM AUTHOR]

Age patterns of female reproduction vary widely among iteroparous animal species with determinate growth. Often fertility declines with age, but in other cases, it may be flat or rise across age. Sometimes fertility ceases altogether, leaving a substantial post-reproductive life span. In this article, we discuss theories that may provide some insights into how these diverse patterns might evolve. We present a simple optimal life history model and consider circumstances in which fertility might rise or fall with age. In our model, without assuming that costs per birth rise with age, that foraging efficiency declines, or that net intergenerational transfers increase, we find that optimal fertility would tend to rise rather than decline. This happens because less energy would be allocated to survival at older ages, leaving more to allocate to fertility. In our analysis, optimal fertility could decline at older ages when an older female makes heavy net intergenerational transfers to multiple offspring or grandoffspring, reducing resources for her own reproduction. This pattern is more likely to evolve when costs of fertility at older ages are higher, when costs of reducing juvenile mortality are low, and when the level of juvenile mortality is high. We also derive conditions for the evolution of menopause, for determinate growth, and for juvenile mortality that declines with age. The optimal life history can exhibit a variety of age patterns of fertility, rising, flat, or falling, depending on the constraints and opportunities faced.

Recently scholars have turned their attention to the role of intergenerational financial assistance in facilitating entry into home ownership for young adults. This practice has been identified as a means through which intergenerational inequalities may be translated into intragenerational inequalities. However, the question of what this form of financial dependence on family means for both young adults and their parents has received less attention. This article reports on the findings of a study conducted with 15 related donor-recipient pairs (30 in-depth interviews in total) in the UK in 2019. Drawing on these findings, we show that the provision and receipt of intergenerational financial assistance does not simply reflect family practices, but instead plays an active part in developing and conveying them. We ultimately contend that the practice of giving and receiving financial transfers shapes individuals' broader orientations to the property market, and to financial decision-making and planning. [ABSTRACT FROM AUTHOR]

The article presents the results of research on the factors that determine how certain Czech millennials are about their housing and some other life aspirations. We did not primarily look at the content of life aspirations and instead, we examined how certain, confident and concrete young people are about their plans. Using qualitative interviews and an attitude survey we found that intergenerational housing-related within-family resource transfers had a significant impact on how certain young Czechs are about their housing and (some) work and family aspirations. Therefore, whatever the aspirations of young people are, the ability to form them with certainty and confidence is significantly influenced by a factor that is largely out of their control. [ABSTRACT FROM AUTHOR]

Objective: This study investigates preferences for family resource allocation on health in three‐generation families and examines whether reciprocity attitudes influence preferences and willingness to pay (WTP) for reducing lifetime health risk. Background: Empirical results of nonmarket valuation studies suggest that adults value improving their children's health more than their own. Such results are often explained by parental altruism, but self‐interest may also be involved. Method: A choice experiment valuation survey elicited respondents' preferences for lifetime risk reduction in coronary artery disease (CAD) and a psychometric scale assessed their reciprocal attitudes. Respondents were middle‐generation members of three‐generation households. To conduct the analysis a hybrid mixed logit model was used that enabled including psychological factors into a utility function derived from respondents' survey choices. Results: Reciprocal attitudes had distinct effects on the middle‐generation preferences for reducing family members' risk of CAD. The latent attitudes concerning reciprocity significantly affected the WTP for the health risk reduction for all family members. The impact of reciprocity on the valuation of CAD risk reduction for the respondent and the elderly parent was similar, but for the child, it was significantly higher. Conclusions: Parents' higher WTP for improving children's health, at least partially, reflects strategic decisions related to reciprocal beliefs. Reciprocity also affects the evaluation of health benefits for elderly parents and middle‐aged respondents themselves. Implications: These findings may have implications regarding the degree to which the so‐called "sandwich generation" can substitute for the government in the area of health and social care for the elderly. [ABSTRACT FROM AUTHOR]

Objective: This study examines sibling inequality in inheritances and investigates the associations between inheritance share, intergenerational support, and patrilineality, as well as the potential interplay between support and patrilineality. Background: While Western studies take an exchange perspective linking inheritance division to intergenerational support, the picture in Asia is complicated by patrilineal norms, which are connected to both inheritance and support. Method: Utilizing the Korean Longitudinal Study of Ageing, this study employs family fixed effects regression to estimate the relationships between actual inheritance division, comprehensive measures of intergenerational support (financial, instrumental, associational, and structural), and patrilineality (gender and birth order). Results: First‐born sons receive the lion's share of inheritances, followed by first‐born daughters and later‐born sons, who receive a lesser share, while later‐born daughters receive the least. Meeting the parent frequently and caring for them before death were also associated with a larger share, and these effects were mostly uniform by birth order and gender. Conclusion: Patrilineal traditions continue to dominate inheritance division in contemporary Korea, with first‐born sons claiming the largest share regardless of their contributions to intergenerational support. Physical contact and caregiving increase a child's likelihood of receiving a larger share, but ultimately do not change the patrilineal order in inheritance allocations. [ABSTRACT FROM AUTHOR]

In classical evolutionary models, the force of natural selection diminishes with age toward zero by last reproduction. However, intergenerational resource transfers and other late-life contributions in social species may select for postreproductive longevity. We present a formal framework for estimating indirect fitness contributions via production transfers in a skills-intensive foraging niche, reflecting kinship and cooperation among group members. Among contemporary human hunter-gatherers and horticulturalists, indirect fitness contributions from transfers exceed direct reproductive contributions from before menopause until ages when surpluses end, around the modal age of adult death (∼70 y). Under reasonable assumptions, these benefits are the equivalent to having up to several more offspring after age 50. Despite early independence, minimal production surplus, and a shorter lifespan, chimpanzees could theoretically make indirect contributions if they adopted reliable food-sharing practices. Our results for chimpanzees hypothetically adopting hunter-gatherer subsistence suggest that a skills-intensive foraging ecology with late independence and late peak production could select for human-like life histories via positive feedback between longevity and late-life transfers. In contrast, life history changes preceding subsistence shifts would not favor further life extension or subsistence shifts. Our results formalize the theory that longevity can be favored under socioecological conditions characterized by parental and alloparental care funded through transfers of mid- to late-life production surpluses. We also extend our analysis beyond food transfers to illustrate the potential for indirect fitness contributions from pedagogy, or information transfers. While we focus mostly on humans, our approach is adaptable to any context or species where transfers can affect fitness.

This research paper seeks to understand whether the current basic endowment insurance policy has properly played the role of supporting the elderly needs through intergenerational support within the family. Theoretically, there are problems of the imbalanced structure of pension security, retirees' comparatively higher pension and the low-level security of young people's in-service income, and drawbacks of the existing endowment insurance system, both have a certain causal relationship with "gnawing the old." Data on China's family tracking survey in 2016 (CFPS2016), Probit model, IV and PSM robustness testing methods were also used to study the relationship between parents' pensions and their grownup children's "gnawing-the-old" behavior. The results show that: (1) Compared with young people from families without pension income, those with pensioned parent(s) will less possibly choose to work; the parents' financial assistance behavior would restrain the children's intention to work and increase the possibility of "gnawing the old"; (2) Neither the amount of pension income nor financial assistance given to the children is significantly related to young people's "gnawing the old"; (3) Young people's "gnawing the old" behaviors are different according to their parents' professions and living areas; (4) The gap between parents' pension income and children's in-service income also adds to the causes of "gnawing the old." The policy implications of these findings are discussed particularly the formulation of a scientific mechanism for pension income. [ABSTRACT FROM AUTHOR]

The accumulation of wealth by households is an essential contributor towards macroeconomic and financial stability and resilience, while also affecting social mobility. The aim of this paper is to analyze the relationship between household wealth and the receipt of inheritances and intergenerational transfers. We use detailed micro-level data from the 2017 vintage of the Household Finance and Consumption Survey (HFCS) for households across the Euro Area in order to explore this relationship in detail, analyzing various classes of assets and liabilities, together with inflows of inheritances and gifts between 2014 and 2017, as well as any associated wealth effects. The results show that inheritance flows are positively and significantly-associated with net overall household wealth, primarily via increases in the value of liquid assets like publicly-traded shares and the value of existing self-employment business, while reducing mortgage debt, particularly outstanding loans related to the household's main residence. We find no evidence of any wealth effects from inheritances in terms of increased consumption expenditure, leisure spending or motor vehicle ownership. These findings collectively suggest that households anticipated the bequests received, with behavior in line with predictions emanating from standard rational expectations life cycle income hypothesis models. [ABSTRACT FROM AUTHOR]

At the headwaters of the Yenisei River in Tuva and northern Mongolia, nomadic pastoralists move between camps in a seasonal rotation that facilitates their animals' access to high-quality grasses and shelter. The use and informal ownership of these camps depending on season helps illustrate evolutionary and ecological principles underlying variation in property relations. Given relatively stable patterns of precipitation and returns to capital improvement, families generally benefit from reusing the same camps year after year. We show that locations with higher economic defensibility and capital investment—winter camps and camps located in mountain/river valleys—are claimed and inherited more frequently than summer camps and camps located in open steppe. Camps are inherited patrilineally and matrilineally at a ratio of 2 : 1. Despite its practical importance, camp inheritance is not associated with livestock wealth today, which is better predicted by education and wealth outside the pastoral economy. The relationship between the livestock wealth of parents and their adult children is significantly positive, but relatively low compared to other pastoralists. The degree of inequality in livestock wealth, however, is very close to that of other pastoralists. This is understandable considering the durability and defensibility of animal wealth and economies of scale common across pastoralists. This article is part of the theme issue 'Evolutionary ecology of inequality'. [ABSTRACT FROM AUTHOR]

What are the intergenerational resource transfer contributions of parents and non-parents in Europe? Using National Transfer Accounts and National Time Transfer Accounts for 12 countries around 2010, we go beyond public transfers (net taxes) to also value two statistically much less visible transfers in the family realm: of market goods and of unpaid household labour (time). Non-parents contribute almost exclusively to public transfers. But parents additionally provide still larger private transfers: mothers mainly time, fathers mainly market goods. Estimating transfer stocks over the working life, the average parental/non-parental contribution ratio in Europe flips from 0.73 (public transfers alone) to 2.66 (all three transfers combined). The highest combined parental/non-parental contribution ratios are in Sweden and Finland. The metaphorical tax rates implicitly imposed thereby on rearing children in Europe are multiples of the value-added tax rates in place on consumption goods. Unveiling the sheer magnitude of these invisible transfer asymmetries carries multiple implications for policy debates. For instance, it raises the question whether ageing European societies unwittingly tax, rather than subsidise, their own reproduction. Family friendly policy models, such as the Nordic welfare states, do not mitigate this effect. They help parents work, but do not lower the implicit tax parents pay.

Resource sharing has always been a central component of human sociality. Children require heavy investments in human capital; during working years, help is needed due to illness, disability, or bad luck. While hunter-gatherer elders assisted their descendants, more recently, elderly withdraw from work and require assistance as well. Willingness to share has been critically important for our past evolutionary success and our present daily lives. Here, we document a strong linear relationship between the public and private sharing generosity of a society and the average length of life of its members. Our findings from 34 countries on six continents suggest that survival is higher in societies that provide more support and care for one another. We suggest that this support reduces mortality by meeting urgent material needs, but also that sharing generosity may reflect the strength of social connectedness, which itself benefits human health and wellbeing and indirectly raises survival.

This paper explores the association between having children and expected subjective old-age welfare within a European context. Data for 31 countries from the European Social Survey are used to model the respondents’ concern about their expected old-age well-being and welfare. Having children and the number of children are the primary explanatory variables but a broad set of controls including gender, age, education level, household income and health, as well as others are included. Regional variation in this association within Europe is discussed using four larger groups of countries. The results indicate that those with a higher number of children report that they are less worried about old-age welfare compared to those who have fewer children. In general, those without children had lower concerns regarding their old-age than those with children.

This study investigated whether social support, pension benefits, and medical insurance coverage are related to cognitive function and decline among older rural Chinese adults and whether depressive symptoms represented a pathway linking these factors with cognitive function. Data are taken from three waves of the China Health and Retirement Longitudinal Study (N = 5,135). Cognitive function is assessed with episodic memory and depressive symptoms are assessed with the 10-item CESD Scale. Social support (intergenerational financial transfers, weekly contact with children, perceived availability of future support, and living arrangements), pension benefits, and medical insurance coverage are self-reported measures. Multilevel linear regression models are employed. Intergenerational financial transfers, perceived availability of future support, and pension income are associated with higher levels of cognitive function. Living with others, perceived availability of future support, medical insurance coverage, and pension income are associated with a slower risk of cognitive decline. Depressive symptoms mediated the association between perceived availability of future support, living with others, pension income and level of cognitive function and the link between perceived availability of future support, pension income, and cognitive decline. The findings suggested these modifiable factors should be taken into account when screening older adults for possible cognitive impairment and decline. Early interventions may also be helpful by expanding social resources and reducing psychological distress. [ABSTRACT FROM AUTHOR]

The article reviews current housing mobility patterns in Hungary, with specific regard to relocations within the rental sector and mobility from the owner occupied to the rental sector. By doing this, it intends to gain a more profound insight into housing mobility within or into less secure positions in the housing system. The analysis explores the role of factors beyond basic socioeconomic variables, such as access to different sources of housing finance, to housing mobility, through multivariable analysis of representative survey data. It points out how the lack of access to intergenerational transfers, savings, and mortgage leads to the inability of households to exit the rental sector. Besides, it draws attention to formerly mortgaged households moving from homeownership to the rental sector. It discusses the results in the context of Hungary's super-homeownership tenure structure, the highly ownership-oriented public policies, the lack of effective measures to tackle housing unaffordability and the loosely regulated rental sector. The analysis is based on data from a large sample personal survey conducted in 2018 (N=2650).

Family support in the form of intergenerational transfers could serve as a substitute for the public transfer system, especially when the public safety net is weak. These intergenerational transfers could be impacted by changes in public insurance. Conversely, induced changes in family transfers could also impact the effectiveness of a public insurance program. What is the impact of social insurance reform on household welfare in the context of intergenerational transfers? This paper investigates this question by using an overlapping generations general equilibrium model where parents and their children are linked by intergenerational transfers. In the model, individuals differ in earnings ability and face idiosyncratic uninsurable income risk, health risk, and mortality risk. This paper calibrates the model to key features in the urban Chinese economy. Using this calibrated model, this paper finds that households on average experience a welfare gain from an increase in the social insurance benefits but that this effect differs across households conditional on their economic status. This paper then provides a decomposition of these welfare changes into three channels: a direct policy channel, an intergenerational-transfers channel, and a general equilibrium channel. [ABSTRACT FROM AUTHOR]

Previous research has shown that the home ownership status of parents matters for the likelihood of a child becoming an owner, and other research has studied how financial intergenerational transfers affect the transition to ownership. We extend these existing studies by estimating the effect of financial transfers on the probability of becoming an owner as well as the role of in‐kind transfers. We also analyse how the impacts of different intergenerational transmission channels vary across neighbourhoods of advantage and disadvantage and discuss the implications for inequality in access to ownership. Drawing on a large panel data set from the Household, Income and Labour Dynamics in Australia Survey, we offer three new findings. First, we show that financial transfers made concurrently with home purchases play a more important role than lagged transfers and that in‐kind transfers are also an important part of the process of gaining ownership. Second, we note that in‐kind transfers are more effective for raising home ownership prospects in areas with high socioeconomic status, while financial transfers appear to be more effective in middle‐class neighbourhoods. Third, children from disadvantaged backgrounds are least likely to be assisted into home ownership by intergenerational transfers. [ABSTRACT FROM AUTHOR]

Scholarly interest in assets has grown over recent years, with housing receiving particular attention. At the same time a related body of work has focussed on intergenerational financial assistance with home ownership, considering how proximity to assets may lead to direct assistance with purchasing property. In this article I draw on interviews conducted with 80 donors and recipients of family financial assistance with first home ownership in order to consider the role of assets (specifically property) in the imagined futures of the recipients, focusing particularly on ambitions to own investment properties. I argue that the provision and receipt of financial assistance of this type is underpinned by shared investor subjectivities. I then consider how these investor subjectivities may lead to specific orientations to property investment in the recipients' imagined futures, finding that many of them aim to use property wealth to meet some of the costs of social reproduction in ways that recreate the gender dynamics that they experienced during their own childhoods. I ultimately draw together these claims to contend that the Minskian household is perhaps best thought of as a kinship network, and to identify some of the empirical features of these networks. [ABSTRACT FROM AUTHOR]

Understanding intergenerational transfers of childcare is crucial in the context of declining birth rates, changing family structures, and population aging. Informal assistance in childcare is highly significant for many families with young children as it helps them balance their professional and parenting responsibilities. Existing research indicates that support provided by parents to their adult children in childcare positively impacts decisions regarding childbirth and women's participation in the labor market. The aim of this study is to analyze patterns of support transfer between different generations and identify factors influencing intergenerational transfers in Moldova. It is based on data from the "Generations and Gender" (GGS) study conducted in 2020. Thanks to its representative sample, the study encompasses aspects such as intergenerational transfers related to childcare and grandchildren, attitudes toward childcare, and socio-demographic variables. Statistical analysis involves cross-tabulations and logistic regressions to identify factors determining participation/transmission of support in childcare. The research findings demonstrate that grandparents provide significant assistance to their adult children in childcare, particularly during the initial years of the child's life. This support is predominantly received by women with young children and women with higher education with children. Typically, childcare assistance is offered by grandparents approaching pre-retirement and retirement ages. Factors such as children's ages, family size, level of education, and urban residence significantly influence the receipt of childcare assistance. The results underscore the importance of traditional values and societal expectations, providing a nuanced understanding of intergenerational relationships amidst a changing demographic landscape. They could prove valuable for policymakers and developers of programs supporting families with children.

Age patterns of female reproduction vary widely among iteroparous animal species with determinate growth. Often fertility declines with age, but in other cases, it may be flat or rise across age. Sometimes fertility ceases altogether, leaving a substantial post-reproductive life span. In this article, we discuss theories that may provide some insights into how these diverse patterns might evolve. We present a simple optimal life history model and consider circumstances in which fertility might rise or fall with age. In our model, without assuming that costs per birth rise with age, that foraging efficiency declines, or that net intergenerational transfers increase, we find that optimal fertility would tend to rise rather than decline. This happens because less energy would be allocated to survival at older ages, leaving more to allocate to fertility. In our analysis, optimal fertility could decline at older ages when an older female makes heavy net intergenerational transfers to multiple offspring or grandoffspring, reducing resources for her own reproduction. This pattern is more likely to evolve when costs of fertility at older ages are higher, when costs of reducing juvenile mortality are low, and when the level of juvenile mortality is high. We also derive conditions for the evolution of menopause, for determinate growth, and for juvenile mortality that declines with age. The optimal life history can exhibit a variety of age patterns of fertility, rising, flat, or falling, depending on the constraints and opportunities faced.

This paper explores the association between having children and expected subjective old-age welfare within a European context. Data for 31 countries from the European Social Survey are used to model the respondents' concern about their expected old-age well-being and welfare. Having children and the number of children are the primary explanatory variables but a broad set of controls including gender, age, education level, household income and health, as well as others are included. Regional variation in this association within Europe is discussed using four larger groups of countries. The results indicate that those with a higher number of children report that they are less worried about old-age welfare compared to those who have fewer children. In general, those without children had lower concerns regarding their old-age than those with children. [ABSTRACT FROM AUTHOR]

Retirement incomes and aged care have both received considerable policy attention in Australia over the last three decades, but as in other countries, the two financing systems have remained largely separate in policy and practice. The problem is located at the intersection of wider policy debates about shifts from public to private welfare and concerns over intergenerational equity. This paper aims to integrate these related debates by incorporating aged care into the "pillars" framework used to understand retirement incomes. We propose an Aged Care Superannuation Levy applied to superannuation fund earnings, winding back the large and growing public tax concessions that support this pillar of private defined contribution pensions in Australia's retirement income system. This revenue would create a social insurance pillar for aged care to stand alongside the four other pillars of retirement incomes that interact variously with aged care financing. Interest in a social insurance pillar of aged care financing is renewed in the light of the Royal Commission into quality and safety of aged care that reported in February 2021. As the Royal Commission recommendations on financing were divided and not taken up in government policy, the way remains opens for further consideration of the alternative approach proposed here. [ABSTRACT FROM AUTHOR]

The article reviews current housing mobility patterns in Hungary, with specific regard to relocations within the rental sector and mobility from the owner occupied to the rental sector. By doing this, it intends to gain a more profound insight into housing mobility within or into less secure positions in the housing system. The analysis explores the role of factors beyond basic socioeconomic variables, such as access to different sources of housing finance, to housing mobility, through multivariable analysis of representative survey data. It points out how the lack of access to intergenerational transfers, savings, and mortgage leads to the inability of households to exit the rental sector. Besides, it draws attention to formerly mortgaged households moving from homeownership to the rental sector. It discusses the results in the context of Hungary's super-homeownership tenure structure, the highly ownership-oriented public policies, the lack of effective measures to tackle housing unaffordability and the loosely regulated rental sector. The analysis is based on data from a large sample personal survey conducted in 2018 (N=2650). [ABSTRACT FROM AUTHOR]

Wealth surveys that collect information on intergenerational transfers provide new scope for comparative study of those transfers and their relationship with wealth across rich countries. However, this is problematic in the case of Great Britain, due to specific features of the Wealth and Assets Survey (WAS), the central source of survey‐based household wealth data, in particular the extent of missing information in its first wave. This has severely constrained efforts to investigate patterns of wealth transfer in Great Britain in comparative perspective. In this paper, we set out these issues and present ways of dealing with them. On this basis, we then examine the main similarities and differences in patterns of intergenerational transmission of wealth between Great Britain, France, Germany, Italy, Spain and the United States. Our findings reveal common features across these countries as well as some important respects in which Great Britain was distinctive, though less of an outlier than the US. About 35 per cent of British households reported receiving an intergenerational wealth transfer at some point, similar to most of the comparator countries but much higher than the US. We conclude by setting out how WAS can be enhanced to address these issues at source, proposals with which the Office for National Statistics is seriously engaged. [ABSTRACT FROM AUTHOR]

The present study first examines the trends in age structural shifts in selected Asian economies over the period 1950–2050 and analyzes their impact on economic growth in terms of the first and second demographic dividends computed from the system of National Transfer Accounts. Then, using the National Transfer Accounts, we analyze the effect of the age structural shifts on the pattern of intergenerational transfers in Japan; the Republic of Korea; and Taipei,China. A brief comparison of the results reveals that, in the next few decades, the latter two are likely to follow in Japan's footsteps by increasing public transfers and asset reallocations, and by reducing familial transfers, particularly among older persons. Next, we consider a newly defined demographic dividend, which is generated through the use of the untapped work capacity of healthy older persons and to which we refer as “the silver” or “the third” demographic dividend. By drawing upon microlevel datasets obtained from Japan and Malaysia, we calculate the magnitude of the impact of that dividend on macroeconomic growth in each of the two economies, concluding that while in Japan the expected effect is substantial, in Malaysia it will take several decades before the country can enjoy comparable benefits.

This paper proposes an alternative channel for elderly consumption response to housing value changes by focusing on the informal financial markets. This channel may be important, particularly in a society where the elderly are less mobile and have limited access to the formal financial markets. In such a society, elderly homeowners may leave their housing assets to their children, and in exchange receive cash to fund consumption. Japanese household-level data on the elderly are used to examine this possibility. The results indeed suggest that the consumption of the elderly responds to changes in their house values through the intrafamily finance channel alone. The marginal propensity to consume out of housing wealth is only 0.01. [ABSTRACT FROM AUTHOR]

Objective: This study examined whether adult children's transitions to marriage, parenthood, and divorce were related to intergenerational support exchanges. Background: Intergenerational support fluctuates over the life span, often in response to major transitions, but surprisingly little research has examined longitudinally how life transitions shape the bidirectional flow of intergenerational support. Method: Using data from adult children who participated in Waves 2, 4, 6, and 8 of the German Family Panel (pairfam) study, we estimated fixed effect models to explore how marital and parenthood transitions of adult children predict support exchanges between adult children and their parents (n = 5245 adult children's report of support exchanges with their mother and n = 4604 with their father; total 14,359 and 12,147 observations). Results: Getting married was associated with adult children receiving less emotional support from mothers, while providing less instrumental support to their parents. Becoming a mother was associated with receiving more instrumental support from parents and receiving less material/financial support among adult children closer to their parents. When adult children became a parent, emotional and instrumental provision to mothers decreased. Getting divorced was associated with adult children receiving more emotional and material support from parents, but findings varied based on child gender and closeness with parents. Conclusion: Adult children's life transitions influence patterns of support exchanged with their parents differentially based on parent–child gender composition and intergenerational closeness. [ABSTRACT FROM AUTHOR]

This paper measures intergenerational transfers through the solidarity reserve of the newly proposed Dutch occupational pension contract. Our first conclusion is that the role of the solidarity reserve is higher than it may appear at a first glance. The fraction of pension savings that can go directly into the solidarity reserve is limited to 10%. However, we find that, in addition, around 30% of the pension savings of a young worker can subsequently be transferred to the solidarity reserve via a levy on future positive excess returns. Our second finding is that the solidarity reserve can introduce a substantial pay-as-you-go element within a funded pension scheme. This feature of the solidarity reserve can be overlooked easily and is not mentioned in the pension bill. Our policy recommendation to pension funds is to make explicit whether or not there is a pay-as-you-go element via the solidarity reserve, and if so to assess whether this is desirable. [ABSTRACT FROM AUTHOR]

Post 2005 in India, a number of public policy initiatives were introduced to strengthen existing programs for welfare of the ever-increasing population aged 60 years and older. Using a National Transfer Accounts framework, this paper attempts to assess the implications of policy changes by evaluating changes in lifecycle deficit and changes in public and familial support of the elderly especially in meeting their lifecycle deficit between 2004 and 05 and 2011–12. It found that labour income of the elderly increased marginally during 2004–2012, but the level of consumption of the elderly marginally slipped down. Lifecycle deficit (LCD) of the elderly population aged 60 years and older declined due to the intertwining effect of increased labour income and declining consumption. Familial support to the elderly did not improve between 2004 and 2012, instead their net contribution to intra-household transfers is greater than their benefits. Asset based reallocation remains the main source of financing the LCD of the elderly. Benefits of the elderly in meeting their lifecycle deficit from policy changes is nominal. [ABSTRACT FROM AUTHOR]

Inequality between generations is a central feature of human societies. Moreover, within human societies many institutions have developed that mould and shape intergenerational inequality, including the state. Nevertheless, intergenerational inequality has typically been only loosely defined as a concept. This article examines intergenerational inequality in income, as well as how the state works to alter intergenerational inequality in income through the redistributive effect of public transfers. In order to provide greater definition to the concept of intergenerational inequality, the article introduces a new measure of intergenerational inequality: the IGI index. Building on this index, the article also constructs a new measure of the redistributive effect of public transfers on intergenerational inequality. With these new measures added to its methodological toolkit, the article presents new evidence on the incomes and public transfers paid and received by different ages and generations. This evidence is drawn from the recently developed Australian National Transfer Accounts, which include data on incomes and public transfers in Australia during the 28-year time period between 1981–82 and 2009–10. The analyses presented suggest that there are substantial inequalities in the incomes received by different generations, with earlier generations generally receiving less income in real terms over their lifetimes than later generations. As the state has operated through time—receiving taxes and other public transfers from some individuals and paying social protection and other public transfers to others—it has mostly favoured later generations more than earlier generations. In doing so, it has mostly worked to increase intergenerational inequality. [ABSTRACT FROM AUTHOR]

This paper analyses the main components and distribution of household net assets in Croatia on the basis of the data from the Household Finance and Consumption Survey (HFCS) by taking into account different socio-demographic characteris¬tics of households. The main results indicate that real assets are widely distributed among households, whereby 85% of households own the household main resi¬dence. Financial assets and liabilities account for larger share among wealthier households. The analysis of the main determinants establishing the position of an individual household in distribution of assets has additionally highlighted the importance of the household main residence (HMR). Households with inherited HMR are less likely to be positioned in the lowest net asset quintile. In addition, households with HMR in the city of Zagreb or on the Adriatic Coast are more likely to be in higher asset quintile groups. The survey has also found that the level of household income, educational attainment, labour market status and age of the household reference person affect the probability of positioning a household in a certain net asset quintile.

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This paper analyzes the intergenerational effects following the positive changes in women's inheritance rights in India. Using the Indian Human Development Survey data for rural India and a difference-in-differences strategy, we find that the property rights reform significantly empowered women through increased education. However, we find no intergenerational effect of the reform on children's education. We explore two potential mechanisms to explain these results: the role of status conflict among spouses and that of a child's birth-order and gender. Given that a woman's bargaining power may depend on her relative position to that of her husband, we investigate this channel and find a significant decrease in children's education in households where fathers are less educated than mothers. Accounting for a child's birth-order and gender, we find no evidence of son-preference through the education channel. [ABSTRACT FROM AUTHOR]

This study describes the use of allowance payments by parents to children in the United States (US) and documents the association between receiving an allowance as a child and financial capability as a young adult. Based on the Panel Study of Income Dynamics, the majority of children in the US ages 6 to 15 receive an allowance in childhood. Allowances are a commonly used strategy by parents across many demographic and socioeconomic groups, with no strong relationship between parental income or education and parents offering an allowance. Young adults who received an allowance as children reported modestly higher levels of financial responsibility, suggesting that allowances for children and teenagers may be a useful complement to other financial development strategies for young people. [ABSTRACT FROM AUTHOR]