How Much Help Is Exchanged in Families? Towards an Understanding of Discrepant Research Findings

Responding to claims that contemporary families had abandoned their elderly members, gerontologists over the past 30 years have provided extensive documentation of intergenerational familial support. These studies have been lodged within conceptual frameworks of the modified extended family, intergenerational solidarity, and, more recently, intergenerational equity. By and large, studies claim to have found extensive levels of support. Closer examination of findings from various studies, however, reveals widely discrepant findings in terms of amounts of help given to and received by older family members. This paper examines the findings from four representative Canadian and American studies spanning four decades. Factors contributing to discrepant findings are identified at both methodological and conceptual levels, and implications for future research are discussed.intergenerational support

Mortgage default and mortgage valuation

We study optimal exercise by mortgage borrowers of the option to default. Also, we use an equilibrium valuation model incorporating default to show how mortgage yields and lender recovery rates on defaulted mortgages depend on initial loan-to-value ratios when borrowers default optimally. The analysis treats both the frictionless case and the case in which borrowers and/or lenders incur deadweight costs upon default. The model is calibrated using data on California mortgages. We find that the model's principal testable implication for default and mortgage pricing—that default rates and yield spreads will be higher for high loan-to-value mortgages—is borne out empirically.Mortgage loans ; Mortgage loans - California ; Default (Finance)

Fiscal policymaking and the central bank institutional constraint

Monetary policy ; Banks and banking, Central ; Fiscal policy

How Much Help Is Exchanged in Families? Towards an Understanding of Discrepant Research Finding

Responding to claims that contemporary families had abandoned their elderly members, gerontologists over the past 30 years have provided extensive documentation of intergenerational familial support. These studies have been lodged within conceptual frameworks of the modified extended family, intergenerational solidarity, and, more recently, intergenerational equity. By and large, studies claim to have found extensive levels of support. Closer examination of findings from various studies, however, reveals widely discrepant findings in terms of amounts of help given to and received by older family members. This paper examines the findings from four representative Canadian and American studies spanning four decades. Factors contributing to discrepant findings are identified at both methodological and conceptual levels, and implications for future research are discussed.intergenerational support