Altruism, Intergenerational Transfers of Time and Bequests

Emanuela Cardia () and Philippe Michel

Cahiers de recherche from Universite de Montreal, Departement de sciences economiques

Abstract: 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

Keywords: Altruism; time transfers; bequests (search for similar items in EconPapers)
JEL-codes: D9 J1 J2 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2003
New Economics Papers: this item is included in nep-dge, nep-ltv and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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http://hdl.handle.net/1866/493 (application/pdf)

Related works:
Journal Article: Altruism, intergenerational transfers of time and bequests (2004)
Working Paper: Altruism, Intergenerational Transfers of Time and Bequests (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:mtl:montde:2003-04

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