Intergenerational Transfers Between Parents and Th eir Multiple Adult Children in South Korea

최새은,김진희 대한가정학회 2014 International Journal of Human Ecology Vol.15 No.2

Guided by the exchange model, altruistic model, intergenerational solidarity theory, and cultural contexts,this study explored the determinants of financial intergenerational transfers between older parents and adultchildren in South Korea. We examined 18,820 parent-child dyads by using random-effects models on the firstwave of the Korean Longitudinal Study of Ageing (KLoSA) data. Findings showed that downward financialintergenerational transfers were consistent with the self-interest exchange model but upward transfers did notsupport microeconomic theories. Family solidarity theory was generally supported by downward transfers butgeographical proximity was not positively associated with upward transfers. Lastly, cultural contextual variablessuch as marital status, birth order, and sex of a child were found to be significant. Parents tended to both provideand receive more financial support from unmarried children than from married children. Within the same maritalstatus, the hierarchy existed in order of the first-born son, the second or later sons, and daughters when itcame to downward financial transfers. Regarding upward financial transfers, the preference in order was morecomplicated. The findings of this study help in understanding the intergenerational financial transfers in theKorean context.

Intergenerational Transfers Between Parents and Their Multiple Adult Children in South Korea

Choi, Saeeun,Kim, Jinhee The Korean Home Economics Association 2014 International Journal of Human Ecology Vol.15 No.2

Guided by the exchange model, altruistic model, intergenerational solidarity theory, and cultural contexts, this study explored the determinants of financial intergenerational transfers between older parents and adult children in South Korea. We examined 18,820 parent-child dyads by using random-effects models on the first wave of the Korean Longitudinal Study of Ageing (KLoSA) data. Findings showed that downward financial intergenerational transfers were consistent with the self-interest exchange model but upward transfers did not support microeconomic theories. Family solidarity theory was generally supported by downward transfers but geographical proximity was not positively associated with upward transfers. Lastly, cultural contextual variables such as marital status, birth order, and sex of a child were found to be significant. Parents tended to both provide and receive more financial support from unmarried children than from married children. Within the same marital status, the hierarchy existed in order of the first-born son, the second or later sons, and daughters when it came to downward financial transfers. Regarding upward financial transfers, the preference in order was more complicated. The findings of this study help in understanding the intergenerational financial transfers in the Korean context.

Intergenerational Transfers Between Parents and Th eir Multiple Adult Children in South Korea

( Sae Eun Choi ),( Jin Hee Kim ) 대한가정학회 2014 International Journal of Human Ecology Vol.15 No.2

Guided by the exchange model, altruistic model, intergenerational solidarity theory, and cultural contexts, this study explored the determinants of financial intergenerational transfers between older parents and adult children in South Korea. We examined 18,820 parent-child dyads by using random-effects models on the first wave of the Korean Longitudinal Study of Ageing (KLoSA) data. Findings showed that downward financial intergenerational transfers were consistent with the self-interest exchange model but upward transfers did not support microeconomic theories. Family solidarity theory was generally supported by downward transfers but geographical proximity was not positively associated with upward transfers. Lastly, cultural contextual variables such as marital status, birth order, and sex of a child were found to be significant. Parents tended to both provide and receive more financial support from unmarried children than from married children. Within the same marital status, the hierarchy existed in order of the first-born son, the second or later sons, and daughters when it came to downward financial transfers. Regarding upward financial transfers, the preference in order was more complicated. The findings of this study help in understanding the intergenerational financial transfers in the Korean context.

Crowding Out Effects of an Old-Age Pension Program on Intergenerational Transfers:Evidence from South Korea

Kanghyock Koh,Hyunjoo Yang 한국재정학회 2017 한국재정학회 학술대회 논문집 Vol.2017 No.-

Governmental public transfers through welfare programs are widely used to tackle elderly poverty. These programs often influence the level of pre-existing supports from other family members, and may crowd out private supports. In this paper, we study the effects of new old-age pension program on intergenerational financial transfer in South Korea. Applying various empirical approaches, we find robust evidence that the pension program completely crowded out financial transfers from adult children to parents. We find little evidence for other alternative hypotheses for crowding out effects such as the effects of global financial crisis and endogenous labor supply of the elderly. The results imply that the effectiveness of governmental antipoverty program through public transfer could be dampened by a reduction in intergenerational transfers.

Does a Government Public Transfer Program Crowd Out Intergenerational Transfers?

Kanghyock Koh,Hyunjoo Yang 한국재정학회 2017 한국재정학회 학술대회 논문집 Vol.2017 No.-

Government public transfers through welfare programs are widely used to tackle elderly poverty. These programs often influence the level of pre-existing support from family members, and might displace such private support. In this paper, we analyze the effects of a new old-age pension program on intergenerational financial transfers in South Korea. Applying various empirical approaches, we find robust evidence that money transfers from adult children to parents was completely crowded out after the introduction of the public transfer program. We find little evidence for alternative hypotheses for crowding-out effects, such as the effects of endogenous change in living arrangement as a substitute for financial support, the endogenous labor supply of the elderly, and the global financial crisis. The results imply that the effectiveness of government antipoverty programs through public transfers could be dampened by a reduction in intergenerational transfers.

Do Public Transfers Crowd Out Private Support to the Elderly? Evidence from the Basic Old Age Pension in South Korea

Seung-Yun Oh 비판과 대안을 위한 사회복지학회 2014 비판과 대안을 위한 사회복지학회 학술대회 발표논문집 Vol.2014 No.10-S

I estimate the effect of exogenously introduced public pensions for the elderly on the amount of private transfers they receive. There has been a long debate whether public transfers crowd out private transfers. The previous empirical studies on this issue suffer from the endogeneity of income that contaminates estimates. The advantages of studying the Basic Old Age Pension in Korea are twofold: i) there exists a longitudinal survey, making it possible to track the changes in private transfers for individuals before and after the pension; ii) private transfers do not affect the pension eligibility, thus the reverse causality is less likely to work. I employ the Difference in Difference (DID) method to test crowding out of private transfers. A considerable proportion of the elderly population, especially women living without a spouse, does not experience the crowding out effect, and among those who do, the size of the effect is relatively small. The results support the redistribution effect of the Basic Old Age Pension targeting the poor elderly in Korea.

Inter Vivos Transfers Based on Affection for Wealth Distribution Planning in Malaysia

KAMARUDIN, Mohd Khairy,NOR MUHAMAD, Nasrul Hisyam,ALMA'AMUN, Suhaili,ABDULLAH, Abdul Hafiz,SAAT, Syahrulnizam,SAMURAH, Nurul Osman Korea Distribution Science Association 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.4

Inter vivos in the context of wealth and estate planning can be generally defined as a transfer that takes place between the livings. Parents are motivated to transfer for altruisme and exchange. In this context, this study aims to explore another potential motives of inter vivos, which is 'affection'. Data is collected through semi-structured interviews with inter vivos experts who have published articles in this area. The interview is encoded and thematic analysis is carried out to classify themes and subthemes that exist in the inter vivos transfers. This study discovers four main themes, which indicate that inter vivos transfers based on affection can be enlightened by the relationship between parents and children, responsibility for children, types of inter vivos, and effects to other heirs. Relationship between parents and children can be explained as parents transfer their wealth to the closest children, children who care for them and to family members only. Parents also are responsible to protect their children after they die and assist them who are in need. Types of inter vivos are considered as boundless inter vivos and without any material return. Inter vivos based on affection also aims not to abuse other heirs.

패널프로빗모형을 이용한 분가가구의 주택점유형태 결정요인에 관한 연구

김성용 ( Kim Sung Young ),조주현 ( Cho Joo Hyun ) 한국부동산분석학회 2017 不動産學硏究 Vol.23 No.2

Government has made policy efforts to ease intergenerational inequality by implementing financial and tax policies intended for the first house purchasers in life or the houseless and by enforcing the merit system for newly-wedded couples. But in reality a considerable number of households in a dead zone of high housing price and welfare policy have not benefited from government policy. Therefore, this study attempted to analyze the branch families of newly-wedded couples with poor assets with the use of the `panel probit model` in order to investigate the effect of their socioeconomic characteristics on the determination of housing occupation types. As a result, it was found that the income and asset variables of their parents did not have a significant effect on their children` determination of housing occupation types but such variables as the educational level and occupation(employer) had a significant effect on it. And analysis showed that the characteristic of parents` household had an insignificant effect on their child`s determination of housing occupation type. This study, unlike previous studies, showed that the branch families of newly-wedded couples with lower educational levels had an increasing rate of homeownership. This is thought to be due to the background of the times that they fall into an age range of economically stable households due to long-standing income regardless of their educational level. In particular, number of children and type of occupation of original household turn out to be important factors in housing tenure choice for married-off households, which implies the possibility of intergenerational wealth transfer.

세계평화통일가정연합 신자들의 세대간 이전에 관한 연구 : 서울지역 중심으로

방철웅 한국평화NGO학회 2021 평화NGO연구 Vol.1 No.-

본 연구는 가정연합 신자들의 복지수요를 충족시키는 것이 중요하다고 생각하여 서울지역을 중심으로 실증적인 대안을 찾고자 하였다. 공생주의에 기초한 가정연합 의 복지에 대한 선행연구와 이론적 배경을 살펴보았고, 타 종교인 가톨릭, 개신교, 불교, 원불교의 복지에 대한 철학과 실천을 살펴보았다. 연구의 분석결과, 서울지역 응답자 중 고령자가 많고(50대 이상 82%, 배우자는 83.5%), 전문직(10.9%)이 적으 며 무직(29.4%)이 많아서 빈곤격차(월수입 100만원 이하 14.2%, 500만원 이상 9.9%)가 크다고 나타났다. 또한 서울지역 응답자들은 자녀교육비와 기본적인 생활 비 때문에 노후준비를 못하고 있어(39.8%), 빈곤이 고착화되는 경향을 보이고 있다. 하지만 가정연합에서 제공하는 복지혜택을 받거나, 노후준비에 부담이 적을수록 복 지수요가 높은 것으로 나타났다. 반면 가정연합 신자들의 교육격차는 유의미하지 않았다. 즉 복지혜택을 받거나 노후준비에 부담이 적은 사람일수록 앞으로 가정연 합에서 복지정책이 더 많이 실시되어야 한다고 응답하여 공생의 문화를 만들기를 원하고 있는 것으로 나타났다. 이상의 연구결과를 보면, 서울지역 응답자 중 고령화 현상이 나타나고 있으며 소득불평등이 심화되어 있는 것으로 나타났다. 또한 복지수요가 높은 것으로 나타나 가정연합의 복지수요정책이 더 필요함을 말해주고 있다. 또한 고학력자가 많아 교육격차가 별로 없음에도 빈부격차가 많다는 것은 다문화 축복을 앞으로 시키려면 한국 사회에 적응할 수 있는 직업교육이 더 필요하다는 것 이다. 제안할 것은 사회복지 전문기관의 설립과 사회복지전문가의 양성, 사회복지 기금의 모금 등이 나타나야 한다. I try to research practically the consciousness of social welfare and demand of FFWPU members that was not received attention from exiting advance research in this thesis. I have reviewed exiting advance research and the ideological background related with FFWPU’s social welfare. In addition, I have examined the social welfare’s philosophy and its practice of Catholic church, Christianity, Buddhism, Won Buddhism, FFWPU. According to the analysis of survey, I would like to summarize survey results as follow as.; First, FFWPU members who live in Seoul region present aging population, over 50 age 82%, their spousers 83.5%. 10.9% members have specialized job, 29.4% members have no job. There are poverty gap between the poor class and the rich class. (Below 1,000,000₩ 14.2%, over 5,000,000₩ 9.9%). Second, According to the analysis of survey, FFWPU members who live in Seoul region showed poverty persistence because of spending education fee and basic living existence. For this reason 39.8% FFWPU members who live in Seoul region do not prepare later life preparation for old age. In case of receiving social welfare beneficiary from FFWPU, FFWPU members who prepare for old age seems to appear to high Intergenerational Income Transfer. Third, According to the analysis of survey, FFWPU members who live in Seoul region, education gap do not show meaningful result. High-education FFWPU members do not related with income because of multi-cultural families situation of FFWPU. Fourth, If FFWPU provide a few social welfare demand, it shows seems to appear to high Intergenerational Income Transfer. This result confirm that FFWPU provide social welfare followed up the beneficiary’s demands. Despite Survey result show that there is no relationship between high-education rate and education gap, on the contrary survey result confirm that there are the continued economic prosperity, there exists a huge chasm between the wealthy and the poor. It means that FFWPU should provide job education and social welfare system not only in order to adjust korean society life as citizen but also participate muti-cultural blessing couples. Fifth, I hereby suggest that FFWPU should provide the establishment of social welfare orgaization, cultivation of social welfare speciailty and collecting social welfare fund.

세대 간 이전이 부의 불평등에 미치는 영향 -연령,소득집단별 영향력 분석-

백가현 ( Kahyeon Baek ),홍백의 ( Baeg Eui Hong ) 한국사회보장학회 2015 사회보장연구 Vol.31 No.3

본 연구는 세대 간 이전의 대표적 형태인 상속·증여가 부의 불평등에 미치는 영향을 살펴보는 것이다. 자본주의 성숙과 더불어 부의 세대 간 전이가 확대되고, 부의 세습으로 인한 불평등 확대에 대한 우려의 목소리가 높다. 그러나 기존 연구는 상속·증여의 실태와 의향에 대한 실태 파악 수준에 머물러 있으며, 실제로 상속·증여가 어느 정도 부의 불평등에 기여하는지에 대한 실증적 분석이 결여되어 있다. 본 연구는 3차-6차년도 재정패널조사를 사용하여 상속·증여가 부의 불평등에 미치는 영향을 연령집단과 소득집단으로 세분하여 살펴보았다. 연구 결과에 의하면, 전체적으로 상속·증여가 전체 부의 약23%를 차지하였으며, 부의 불평등에 약 22.3% 정도 기여하는 것으로 드러났다. 연령별로는 베이비부머 세대에서 상속·증여가 차지하는 비중이 그 이전세대나 이후세대에 비해 높았으며, 부의 불평등에 기여하는 정도는 젊은 연령층으로 갈수록 더 증가하는 것으로 나타났다. 소득계층별로는 상속·증여의 비중이 1분위와 5분위에서 높게 나타났으며, 특히 고소득층에서 부의 불평등에 미치는 정도가 큰 것으로 나타났다. The purpose of this study is to analyse the effect of intergenerational transfers, especially of bequest and inter-vivos, on wealth inequality. Using National Survey of Tax and Benefit, the effect on wealth inequality is investigated by calculating the current value of bequest and inter-vivos and Gini decomposition. As the result for the whole group, intergenerational transfers account for about 23% of wealth inequality. As for the analysis of age groups, the effect of bequest and inter-vivos is higher when the age group was younger, which implies that intergenerational transfers become more important in recent years and make a society more unequal in the future. As for the income group analysis, the effect of bequest and inter-vivos is higher at group 5(top 20%). Finally, several policy implications and limitations of this study are discussed.