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Title: Growing Parental Economic Power in Parent-Adult Child Households : Coresidence and Financial Dependency in the US, 1960 and 2001

Citation Type: Working Paper

Publication Year: 2012

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Abstract: Research on coresidence between parents and their adult children in the United States has challenged the myth that elders are the primary beneficiaries, and instead has shownthat inter-generationally extended households generally benefit the younger generation more than their parents. Nevertheless, the economic fortunes of those at the older and younger ends of the adult life course have shifted in the second half of the twentieth century, with increasing financial well-being among older adults and greater financial strain among younger adults. This paper uses U.S. Census data to examine the extent to which changes in generational financial well-being over the late 20th century have been reflected in the likelihood of coresidence and financial dependency in parent-adult childhouseholds between 1960 and 2000. We find that younger adults have become more financially dependent on their parents and older adults have become more independentof their adult children. We also find that the effect of economic considerations in decisions about coresidence became increasingly salient for younger adults, butdecreasingly so for older adults.

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Authors: Garcia-Manglano, Javier; Kahn, Joan R.; Goldscheider, Frances

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Institution: University of Maryland

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Data Collections: IPUMS USA

Topics: Other

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