This paper aims to detect whether or not people could work for more years in the presence of a more flourishing and cheaper formal care market, which, in turn, would provide support for people who are still at work and who have to cope with the care of their elderly parents and relatives. We...

Parents generally care for their kids, either for altruistic or for strategic reasons. To secure them a better life than their own, they can invest in the children's human capital or accumulate real wealth to bequeath to them. In equilibrium, with complete markets and no imperfection, the...