Family Support in Hard Times: Dynamics of Intergenerational Exchange after Adverse Events

Jessamyn Schaller and Chase S. Eck

No 28295, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We use an event-study approach to examine changes in intergenerational financial transfers and informal care within families following wealth loss, job exit, widowhood, and health shocks. We find sharp reductions in parental giving to adult children following negative shocks to parents' wealth and earned income, particularly in low-wealth households. Parental giving also decreases with some health shocks and increases following spousal death. Meanwhile, children of low-wealth households increase financial transfers to their parents following adverse shocks and children in both high- and low-wealth households increase their provision of informal care to parents following a wide range of adverse shocks.

JEL-codes: D10 D14 D15 D64 I10 J14 J26 (search for similar items in EconPapers)
Date: 2020-12
New Economics Papers: this item is included in nep-age, nep-dem, nep-hea and nep-lab
Note: AG CH EH LS PE
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