Do First‐Time House Buyers Receive Financial Transfers from Their Parents?*
利用丹麦纵向数据，研究首次购房者在购房前后是否从父母处获得直接财务转移，发现无证据支持此类转移。
Abstract Using Danish longitudinal data with information about wealth for a sample of first‐time house buyers and their parents, we test whether there are direct financial transfers from parents to children in connection with the house purchase, or in connection with unemployment spells occurring just after the purchase, when children typically hold few liquid assets. First, we document that child and parent financial resources are correlated. Then, we introduce conditioning variables and exploit the panel aspect of the data to also condition on fixed unobserved factors, which arguably govern preferences and/or productivity. We find no evidence of direct financial transfers.