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The Nature of Two-directional Intergenerational Transfers of Money and Time: An Empirical Analysis

  • Yannis M. Ioannides
  • Kamhon Kan
Chapter
Part of the International Economic Association Series book series (IEA)

Abstract

Since the 1970s, resource transfers among family members and across generations have been paid particular attention by economists. This has, in part, been motivated by the difficulty the life-cycle permanent income theory has faced in explaining the saving behaviour of households (Menchik and David, 1983; King, 1985; Kotlikoff, 1987; Hayashi, Ando and Ferris, 1988; and Hurd, 1987, 1989, 1990). Intergenerational transfers of resources have been found to play an important role in capital accumulation and distribution of income (Kotlikoff and Summers, 1981, 1988; and Gale and Scholz, 1994), and in consumption smoothing (Kan, 1996).

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Copyright information

© International Economic Association 2000

Authors and Affiliations

  • Yannis M. Ioannides
    • 1
  • Kamhon Kan
    • 2
  1. 1.Tufts UniversityMedfordUSA
  2. 2.Institute of EconomicsAcademia SinicaTaipeiTaiwan

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