The Influence Of The New Rural Social Pension Insurance On Intergenerational Private Transfer Payments From Children To Parents

The implementation of the New Rural Social Pension Insurance(NRSPI)started from September 2009,which aims to safeguard the basic life and to improve the welfare level of the rural old people.The increasing of the public transfers from the New Rural Social Pension Insurance may "crowd out" the private transfers.If the"crowd out" effect really exsisted,the effects of the NRSPI may be adversely affected.Therefore,to evaluate the efficacy of the NRSPI comprehensively,we should also consider the changes of intergenerational private transfer payments from children to parents.Domestic and foreign scholars have carried on the related research about the NRSPI and private transfers.The results show that the NRSPI improves subjective satisfaction,income,health of the rural old people.The public transfer payments may"crowd out"private transfers.Relevant domestic researchers study the influence of the NRSPI simply measuring the intergenerational transfer payments from the economic support perspective.However,the elder-care from children not only limites to the economic support,time-spent for care is also included.This paper estimates intergenerational private transfer payments from children to parents from two dimensions:money supports and time-spent for care,so that we can grasp the influence of the NRSPI on the private transfer payments from children to parents more comprehensively.Based on the integration of previous studies,this paper builds the theory model to analyze the the influence of the public private transfer payments on the private transfer payments using family utility function.Then this paper uses the method of fuzzy regression discontinuity which is widely applied in policy evaluation to estimate the influence of the NRSPI on the money supports and time-spent for care from children to parents and uses China Health and Retirement Longitudinal Study(CHARLS)2013data.Also,the total sample is divided into high-income subsanple and low-income subsample on the basis of the average annual income of the rural old people when we report the empirical results.The empirical results of the two subsamples are reported respectively.Finally,this paper also tests the validity of the fuzzy regression discontinuity method in three respects:the density function'continuity of the forcing variable;the continuity of the control variables in the cutoff;the "placebo effect" test.The results show that the implementation of the NRSPI influences more on low-income rural old people than on high-income rural old people no matter from the dimension of money supports or from the dimension of time-spent for care.Also,money supports and time-spent for care from children to parents are mutually complementary.On the one hand,the implementation of the NRSPI reduces the money supports from children to parents.But on the other hand,the implementation of the NRSPI increases the time-spent for care from children to parents.Comprehensively,the NRSPI are not necessarily "crowding out" the private transfer payments from children to parents.Also,the fuzzy regression discontinuity method in this paper is valid.