How Important Are Intergenerational Transfers of Time? a Macroeconomic Analysis.

This paper examines the implications of intergenerational transfers of time and money for labor supply and capital accumulation. Although intergenerational transfers of time in the form of grandparenting are as substantial as monetary transfers in the data, little is known about the role and importance of time transfers. In this paper, we calibrate an overlapping generations model extended to allow for both time and monetary transfers to the US economy. We use simulations to show that time transfers have important positive effects on capital accumulation and that these effects can be as significant as those of monetary transfers. However, while time transfers increase the labor supply of the young, monetary transfers produce an income effect that tends to decrease work effort. We also find that child care tax credits have little impact on parental time and money transfers, but that a universal child tax credit would increase the welfare of the rich while the poor would benefit from a means-tested program.

Altruism, Intergenerational Transfers of Time and Bequests

This paper uses a standard two-period overlapping generation model to examine the behavior of an economy where both intergenerational transfers of time and bequests are available. While bequests have been examined extensively, time transfers have received little or no attention in the literature. Assuming a log-linear utility function and a Cobb-Douglas production function, we derive an explicit solution for the dynamics and show that altruistic intergenerational time transfers can take place in presence of a binding non-negativity constraint on bequests. We also show that with either type of transfers capital is an increasing function of the intergenerational degree of altruism. However, while with time transfers the labor supply of the young increases with the degree of altruism, with bequests it may decrease

Population ageing, intergenerational transfers and social protection in Latin America and the Caribbean

Includes bibliography

Intergenerational Transfers over the Life Course: Addressing Temporal and Gendered Complexities via a Human Well-being Approach

Research on intergenerational transmissions of poverty and inequality has tended to focus on material transfers. This paper refocuses attention on the intersection of material and psychosocial transfers, which reveals temporal and gendered complexities. It examines three key ideas emerging from the life course literature (relationality, intersectionality and intergenerationality) to shed light on how these complexities might be addressed. It is argued that a human wellbeing lens is potentially useful as a unifying framework to integrate these ideas as it interrogates what living well means over the life course and how it is constructed relationally.

Will-making prevalence and patterns in Australia: Keeping it in the family

This article provides evidence of the prevalence of wills and the principles underpinning the intended distribution of estates in Australia. Intentions around wealth transfers and the social norms that underpin them occur in the context of predicted extensive intergenerational transfers from the ageing baby boomer generation, policies of self provision and user pays for care in old age, broader views on what constitutes ‘family’, the increased importance of the not-for-profit sector in the delivery of services, and the related need for philanthropy. A national telephone survey conducted in 2012 with 2,405 respondents aged 18 and over shows that wills are predominantly used to distribute assets to partners and/or equally to immediate descendants. There is little evidence that will makers are recognising a wider group of relationships, obligations and entitlements outside the traditional nuclear family, or that wills are being replaced by other mechanisms of wealth transfer. Only a minority consider bequests to charities as important. These findings reflect current social norms about entitlements to ‘family’ money, a narrow view of what and who constitutes ‘family’, limited obligation for testators to recompense individuals or organisations for care and support provided, and limited commitment to charitable organisations and civil society.

Making and changing wills: Prevalence, predictors, and triggers

Wills are important social, economic, and legal documents. Yet little is known about current will making practices and intentions. A comprehensive national database on the prevalence of will making in Australia was developed to identify who is or is not most likely to draw up a will and triggers for making and changing wills. A national survey of 2,405 adults aged above 18 years was administered by telephone in August and September 2012. Fifty-nine percent of the Australian adult population has a valid will, and the likelihood of will making increases with age and estate value. Efforts to get organized, especially in combination with life stage and asset changes trigger will making; procrastination, rather than a strong resistance, appears to explain not making a will. Understanding will making is timely in the context of predicted significant intergenerational transfers of wealth, changing demographics, and a renewed emphasis on retirement planning.

A competitive growth model with endogenous fertility

This paper investigates the interaction between endogenous fertility behavior and the distribution of income and wealth arnong farnilies in a competitive market economy. We construct a growth model in which altruistic dynasties are heterogeneous in their initial stocks of physical capital. Dynasties make choices of farnily size along with decisions about consumption and intergenerational transfers. We show that if the rate of time preference is increasing in the number of children and preferences over nurnber of children satisfy a norrnality assumption, all steady states are characterized by equality of capital stocks and consumption arnong families. We also provide sufficient conditions for uniqueness of the steady state. In order to illustrate these results, we present an example in which preferences over number of children are logarithrnic and the technology is Cobb-Douglas. For this combination of preferences and technology, there exists a unique egalitarian steady state. Moreover, the economy converges to this steady state in only one generation .

Swiss Social Report: Generations in Perspective

Based on systematically prepared data and indicators, the Social Report 2012 informs about the current status and development trends in the Swiss society. This issue focuses on intergenerational relationships: How, for example, are intergenerational transfers carried out and what are they caused by? Does different cultural behaviour depend on the age group or do other social differences play a role? Do age-specific discriminations exist? Are young adults less politically involved than their parents? What impact has the demographic development of recent years had on the geographic structure? In addition to a selection of 75 indicators on these and other subjects, the Social Report contains five analytically oriented in-depth articles that are written from the perspective of the generational issue and which are dedicated to the following individual aspects: Equality of opportunities, cultural behaviour, age-specific discrimination, political involvement and the spatial reflection of the demographic changes. The Social Report 2012 is rooted in the tradition of the earlier issues of 2000, 2004 and 2008, which have been completely updated and supplemented with additional indicators. All the data are graphically presented and available in electronic form on this website. The five in-depth articles and all the short commentaries on the indicators were completely rewritten.

Long-run effects of unfunded social security with earnings-dependent benefits

This paper examines the effects of unfunded social security with bequests, fertility and human capital by considering a mix of earnings-dependent and universal social security benefits. We show that social security is more likely to promote growth by reducing fertility and increasing human capital investment if its benefits are more dependent on individuals' own earnings. Through simulations, we find that the differences in the effects of social security resulting from variations in the benefit formula can be too substantial to be ignored. We also investigate the welfare effect in calibrated economies. (C) 2003 Elsevier B.V. All rights reserved.

Impacto del Programa de Alimentación Escolar en el Trabajo Infantil: Una aproximación desde la toma de decisiones familiares

Esta investigación analiza el impacto del Programa de Alimentación Escolar en el trabajo infantil en Colombia a través de varias técnicas de evaluación de impacto que incluyen emparejamiento simple, emparejamiento genético y emparejamiento con reducción de sesgo. En particular, se encuentra que este programa disminuye la probabilidad de que los escolares trabajen alrededor de un 4%. Además, se explora que el trabajo infantil se reduce gracias a que el programa aumenta la seguridad alimentaria, lo que consecuentemente cambia las decisiones de los hogares y anula la carga laboral en los infantes. Son numerosos los avances en primera infancia llevados a cabo por el Estado, sin embargo, estos resultados sirven de base para construir un marco conceptual en el que se deben rescatar y promover las políticas públicas alimentarias en toda la edad escolar.

Ipswich stories : using digital storytelling to research intergenerational sharing of heritage, history, place, identity and community connection : a pilot study

Co-creative media production practices offer important new modes and opportunities for social participation and engagement. In mid-2009 Institute for Creative Industries and Innovation researchers at QUT adapted a specific model of co-creative media production, known as ‘digital storytelling’ and piloted it as an action research platform for facilitating and researching knowledge production based on intergenerational dialogue and exchange. Nine stories were produced and important insights were generated into this particular use of digital storytelling, as well as the impact of institutional constraints and opportunities on the possibilities and outcomes co-creative media practices and processes.