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KMID : 1124020200360040033
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Korean Social Security Studies
2020 Volume.36 No. 4 p.33 ~ p.56
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The Relationship Between Private Income Transfers and Recipients’ Income
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Shon Byong-Don
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Abstract
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This study aims to empirically identify the motive for private income transfer and the relationship between private income transfer and beneficiary’s income in Korea. For the analysis, data from the 14th year of the Korean Welfare Panel were used, and as analysis methods, regression analysis by income classes, an analysis of the interaction effect between the class variable and the beneficiary’s income variable on private income transfer, and spline regression analysis were used. The analysis results are as follows. First, it was analyzed that the beneficiary’s income variable had a significant negative effect on the private transfer income in both the regression analysis by all households and income classes. In the lower 25% of the income bracket, when the beneficiary household's income increased by 10,000 won, the private transfer income decreased by about 7,000 won, so that private income transfer was sensitive to the increase in the beneficiary’s household income, but in other classes the income of beneficiary households affected private income transfer much less. Second, as a result of the analysis of the interaction effect between the beneficiary’s household income and the class variable, for the low-income class, if the beneficiary’s income increases by 10,000 won, the private transfer incomes decreases by about 5,300 won, whereas those of non-low-income class decreases by about 300 won. Third, the result of spline regression analysis showed that the relationship between private income transfer and beneficiary household income was nonlinear.
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KEYWORD
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the private income transfer, altruism, the interaction effect, spline regression
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