우리 나라 都市家計의 利他的 連擊度檢證

Is the Korean Extended Family Altruistically Linked? A Test based on Engel Curves

In this paper we examined whether the Korean extended family is altruistically linked, and our results suggest that the altruistic linkage between generations is not significant among the Korean extended(or two-generation) family, We used the raw data of City Family Expenditure and Income Survey of 1994 produced by Korean National Statistical Office. In this paper we applied Hayashi’s(l995) method for testing consumption neutrality for Korean city family. In testing neutrality of family’s demand on consumption we only used non-durable consumption goods since non-durable consumption goods are more responsive to the annual income changes than durable ones, and there also exists some measuring problems associated with the services from durable goods. We classified non-durable consumption goods into six categories: 1) cereals and bread, 2) meat, milk and eggs, 3) fish, 4) vegetables, 5) eating out and 6) other. our results show that high percentage of old generation’s income in the total family income is positively related to consumption ratio of cereals(excluding bread), meat, milk, eggs, fish, vegetables and fruits, while at the same time it is negatively related to consumption ratio of eating out. This paper studied the neutrality of family’s demand on consumption in two-generation family by examining the impact of changes in the old generation’s income share on the changes of family’s demand on food consumption. Our results suggest that the changes in the old generation’s income share in the family’s income may influence family’s food consumption behavior. In the case of Korean families, real effect can be expected as a result of changes in fiscal policy such as income tax-cut, public pension benefits rule modification. Thus we conclude that the Ricardian Equivalence type of neutrality does not hold in the case of Korean economy.