Do First Time House Buyers Receive Financial Transfers from Their Parents?
Research output: Contribution to journal › Journal article › Research › peer-review
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Do First Time House Buyers Receive Financial Transfers from Their Parents? / Kolodziejczyk, Christophe; Leth-Petersen, Søren.
In: Scandinavian Journal of Economics, Vol. 115, No. 4, 2013, p. 1020-1045.Research output: Contribution to journal › Journal article › Research › peer-review
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TY - JOUR
T1 - Do First Time House Buyers Receive Financial Transfers from Their Parents?
AU - Kolodziejczyk, Christophe
AU - Leth-Petersen, Søren
N1 - JEL Classification: D91;E21;R29
PY - 2013
Y1 - 2013
N2 - Using Danish longitudinal data with information about wealth for a sample of first-time house buyers and their parents, we test whether there are direct financial transfers from parents to children in connection with the house purchase, or in connection with unemployment spells occurring just after the purchase, when children typically hold few liquid assets. First, we document that child and parent financial resources are correlated. Then, we introduce conditioning variables and exploit the panel aspect of the data to also condition on fixed unobserved factors, which arguably govern preferences and/or productivity. We find no evidence of direct financial transfers.
AB - Using Danish longitudinal data with information about wealth for a sample of first-time house buyers and their parents, we test whether there are direct financial transfers from parents to children in connection with the house purchase, or in connection with unemployment spells occurring just after the purchase, when children typically hold few liquid assets. First, we document that child and parent financial resources are correlated. Then, we introduce conditioning variables and exploit the panel aspect of the data to also condition on fixed unobserved factors, which arguably govern preferences and/or productivity. We find no evidence of direct financial transfers.
KW - Faculty of Social Sciences
KW - Empirical analysis
KW - house purchase
KW - intergenerational transfers
U2 - 10.1111/sjoe.12032
DO - 10.1111/sjoe.12032
M3 - Journal article
VL - 115
SP - 1020
EP - 1045
JO - Scandinavian Journal of Economics
JF - Scandinavian Journal of Economics
SN - 0347-0520
IS - 4
ER -
ID: 98597104