Zissimopoulos Julie, Thunell Johanna, Mudrazija Stipica
Sol Price School of Public Policy, Schaeffer Center for Health Policy and Economics, University of Southern California, Verna and Peter Dauterive Hall 213, Los Angeles, CA 90089.
Schaeffer Center for Health Policy and Economics, University of Southern California, Verna and Peter Dauterive Hall 312, Los Angeles, CA 90089.
J Fam Econ Issues. 2020 Jun;41(2):316-331. doi: 10.1007/s10834-019-09645-z. Epub 2019 Sep 10.
As young people transition to adulthood, many rely on financial support from their parents to complete schooling and to live independently. Evidence suggests that there has been a gradual lengthening of the time young adults take to transition to adulthood. Young people attempting to move out of their parents' home, complete college, or enter the workforce during the Great Recession faced uncertain economic times, increasing their need for financial support. At the same time, the income and wealth losses experienced by young adults' parents may have disrupted transfers from them. We analyze the impact of large and unexpected declines in parents' income and wealth during and immediately after the Great Recession on monetary transfers to their young adult children using data from the Panel Study of Income Dynamics (PSID) and the PSID Transition to Adulthood study. We find parents' financial support of their young adult children declined during the Great Recession. The likelihood of receiving a transfer declined from 74% in 2005 to 57% in 2009. Parents' loss of income was a factor in the amount of decrease but on average was relatively modest - a $10,000 parental income loss decreased transfers to their adult children by $109. However, parents experiencing large declines in income, those at the 75 and 95 percentile of income loss, reduced transfers to adult children by $1,150 and $1,700, respectively. Declines in parental transfers that reduce college completion rates, increase student loan debt and decrease likelihood of homeownership may have long term consequences for financial well-being.
随着年轻人向成年过渡，许多人依靠父母的经济支持来完成学业并独立生活。有证据表明，年轻人向成年过渡所需的时间在逐渐延长。在大衰退期间试图搬离父母家、完成大学学业或进入劳动力市场的年轻人面临着不确定的经济时期，这增加了他们对经济支持的需求。与此同时，年轻人父母所经历的收入和财富损失可能中断了来自他们的经济转移。我们利用收入动态面板研究（PSID）和PSID成年过渡研究的数据，分析了大衰退期间及之后不久父母收入和财富的大幅意外下降对向其成年子女进行货币转移的影响。我们发现，在大衰退期间，父母对成年子女的经济支持有所减少。获得转移支付的可能性从2005年的74%降至2009年的57%。父母收入的损失是减少幅度的一个因素，但平均而言相对较小——父母收入损失1万美元，向成年子女的转移支付减少109美元。然而，收入大幅下降的父母，即处于收入损失第75和第95百分位的父母，分别减少了对成年子女1150美元和1700美元的转移支付。父母转移支付的减少会降低大学毕业率、增加学生贷款债务并降低拥有住房的可能性，这可能会对财务状况产生长期影响。
