Do State Pensions Crowd out Private Transfers? A Semiparametric Analysis in Urban China

‘No country for old men’? The multiplier effects of pensions in Portuguese municipalities

“…Finally, the concern regarding social instability claims that deep imbalances (stemming from the issue of the sustainability of pension systems) may lead to generalized dissatisfaction among the different cohorts of people in the population: workers versus pensioners, young versus older people, etc. This turmoil may, in turn, contribute to a context of political instability having potentially significant consequences on the economic growth path of economies (Chen et al ., 2017).…”

The Intergenerational Impact of China's New Rural Pension Scheme

“…This can lead to “crowding in” of children's transfers to parents at the higher level of parental pension incomes, as shown in Chen et al. ().…”

“…This situation seems to be driven by children's motivations (Chen et al. ) and economic conditions, notably income volatility (Albarran and Attanasio ).…”

Smoothing or strengthening the ‘Great Gatsby curve’? The intergenerational impact of China’s New Rural Pension Scheme

“…However, the exchange models of transfers imply that children transfer more time and/or money to parents as an exchange of parental wealth transfer (Bernheim et al 1985;Cox and Rank 1992;Altonji et al 1997). This leads to 'crowding in' of children's transfer to parents at the higher level of parental pension incomes (Chen et al 2017).…”

“…From the perspectives of family members who have parents receiving a pension, their transfer to parents is non-linearly related to parental or household income in both developed and developing countries (Cox et al 2004). This seems to be driven by children's motivations (Chen et al 2017) and economic conditions, notably income volatility (Albarran and Attanasio 2003). (2) Unobserved characteristics such as individuals' time preferences and perceived value of pension benefits can also heavily influence the timing of their claiming benefits and life-cycle wealth accumulation (Gutsman and Steinmeier 2015).…”