Intergenerational Transmission Models: A Survey
Exchanges and transfers within families are very specific. They may concern money (as with inter vivos gifts or inheritances), without being selling or buying, help and services, such as child-care or loans; they may or may not have market substitutes (the case is clear for affection and caring). Either the exchange is not perceived as such (I give to my children, without thinking that they might ever give back), or it is very indirect (I marry a public servant ‘in order to’ mitigate our income variability, myself being an entrepreneur); there is usually no written contract, as would be the case with market insurance, for example (my parents invest in my education; I shall give back by helping them when they are old), and one is even far from barter (I receive a present; the rule is that I do not give back immediately but later and differently).
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