Private Interhousehold Transfers of Money and Time: New Empirical Evidence

There is a growing awareness that it is important to understand patterns of family assistance; however, there is still a great deal of information about private transfers that is not known. This study begins to fill this void by presenting results from a new survey and integrating these findings with evidence from recent studies that use other new data sets. It is found that: (1) a large share of households participate in private transfer networks, (2) a greater amount of financial assistance is provided to lower income family members, (3) altruism does not fully explain transfer behavior, and (4) people in their 20s and 30s receive more assistance than people of other ages, even the very old.