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Pension Income, The Pattern of Intergenerational Transfers and Rural Endowment
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TitlePension Income, The Pattern of Intergenerational Transfers and Rural Endowment  
AuthorCai Weixian and Shen Xiaoyuan  
OrganizationXiamen University; 
Key WordsIntergenerational transfer; New Rural Society Endowment Insurance; Regression Discontinuity Design 
AbstractBased on the national data of China Health and Retirement Longitudinal Survey (CHARLS) in 2011 and 2013, the effect of pension income from New Rural Social Endowment Insurance (NSEI) on the pattern of intergenerational transfer of rural family is empirically studied through Regression Discontinuity Design. The dynamic evolution process of the influence of the establishment of insurance system on traditional family endowment is revealed. The research results are as follows: pension income significantly “crowds out” the intergenerational transfers from their children. At the beginning of getting pension, Crowding-out Effect is mainly embodied in the situation that children reduce the transfer payments in physical form for the elderly. After excluding the samples who get pension less than 0.5 years longer, 1 year and 1.5 years in turn, It becomes more significant dramatically; the Crowding-out Effect of pension income to intergenerational transfer in the form of currency becomes significant, showing the effect of pension income on intergenerational transfer changes with the change of participant’s trust in the policy. And “family bundling” is the main cause of the Crowding-out Effect, and it has played an important role in poverty alleviation. In addition, the paper also finds that the pension income let the rural elderly increase the regular money transfer to their children. 
Serial NumberWP1402 
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