Housing Windfalls and Intergenerational Transfers in China
نویسندگان
چکیده
In this paper, we study the impact of housing reform and the rapid development of the housing market in China on intergenerational transfers and elderly well-being. During the 1990s, the Chinese government gave property rights to many urban residents who had been allocated housing by their danwei employers. These unexpected windfalls were substantial in size, and grew with the rapid increase in housing prices over time, significantly impacting the asset holdings and wealth of affected urban residents. We examine the effect of these exogenous changes in wealth on inter-vivos transfers and intergenerational transfer motives. 1 I am grateful to the Oxford Martin School and the Oxford Institute of Population Ageing for financial support. Email: [email protected]
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