Korean Journal of Human Ecology (한국생활과학회지)

Korean Association of Human Ecology (한국생활과학회)
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Analyzing Adult Children's Income Transfers to Parents According to Financial Structure

중고령 가구의 재무구조와 성인자녀로 부터의 소득이전

  • Yoon, Won-Ah (Dept. of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign)
  • 윤원아 (일리노이 주립대학 농업소비자 경제학과)
  • Received : 2010.03.03
  • Accepted : 2010.04.02
  • Published : 2010.04.30
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Abstract

Using the first wave of the Korean Longitudinal Study of Ageing, this research examines the effect of elderly parent's financial structure on private income transfers from their adult children. The results show that low income elderly households are more likely to receive income transfers from their children. Generally, Korean elderly households were found to have very low liquidity in their asset structure, as the average household holds over 90% of their assets in real estate. However, it seems that the parents' potential income based on their real estate assets is unimportant in determining children's transfer decisions. Rather, the parents' labor income is found to be a key factor in children's income transfer decisions.

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References

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