Parents with an Unemployed Adult Child: Labor Supply, Consumption, and Savings Effects

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dc.contributor.author Edwards, Kathryn Anne
dc.contributor.author Wenger, Jeffrey B.
dc.date.accessioned 2018-02-08T19:48:23Z
dc.date.available 2018-02-08T19:48:23Z
dc.date.issued 2017-09
dc.identifier.citation Edwards, Kathryn Anne, and Jeffrey B. Wenger. 2017. “Parents with an Unemployed Adult Child: Labor Supply, Consumption, and Savings Effects.” Ann Arbor MI: University of Michigan Retirement Research Center (MRRC) Working Paper, WP 2017-368. http://mrrc.isr.umich.edu/wp368/ en_US
dc.identifier.uri http://hdl.handle.net/2027.42/142345
dc.description.abstract The risk of labor market, health, and asset-value shocks comprise profound retirement savings challenges for older workers. Parents, however, may experience added risk if their children experience adverse labor market shocks. Prior research has shown that parents support their children financially through an unemployment spell. In this paper, we also provide evidence of financial support from parents and investigate if this financial support is accompanied by adjustments to parental labor supply, program participation, consumption, or savings behavior. With longitudinal data on parents and children from the Panel Study of Income Dynamics, we use within-parent variation in behavior to identify the effect of a child’s labor market shock on parental outcomes. We find results vary by the parent’s age: Parents younger than 62 years old increase labor supply and decrease savings rates, all parents reduce assets and usual food consumption. en_US
dc.description.sponsorship Social Security Administration, RRC08098401-09, R-UM17-18 en_US
dc.language.iso en_US en_US
dc.publisher Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104 en_US
dc.relation.ispartofseries WP 2017-368 en_US
dc.subject retirement savings, family dynamics, labor supply en_US
dc.title Parents with an Unemployed Adult Child: Labor Supply, Consumption, and Savings Effects en_US
dc.title.alternative WP 2017-368 en_US
dc.type Working Paper en_US
dc.subject.hlbsecondlevel Population and Demography
dc.subject.hlbtoplevel Social Sciences
dc.contributor.affiliationother RAND Corporation en_US
dc.contributor.affiliationother RAND Corporation en_US
dc.contributor.affiliationumcampus Ann Arbor en_US
dc.description.bitstreamurl https://deepblue.lib.umich.edu/bitstream/2027.42/142345/2/wp368.pdf
dc.description.filedescription Description of wp368.pdf : Working paper
dc.owningcollname Retirement Research Center, Michigan (MRRC)
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