We estimate the effect of additional pension income on mortality outcomes by exploring the eligibility criteria of a German program subsidizing the pensions of low-wage workers. Using administrative data on the universe of deceased pensioners and a difference-in-differences design, we find that eligibility leads to a two-month delay in age at death, with effects concentrated among men. Complementary survey evidence points to a plausible mechanism: recipients report better mental and physical health, feel less financially constrained, and are more optimistic about their future.

We examine how changes in long-term care arrangements affect families across three generations. Using administrative data covering the Dutch population, we exploit a 2015 reform that promoted aging in place by tightening eligibility criteria for public nursing home care. In a Difference-in-Differences framework, we compare families whose elderly members lost access to nursing homes with those who remained eligible. Losing access reduced children's wealth and increased their labor supply, with substantial heterogeneity across gender, family composition, and individual opportunity costs. Daughters adjust their labor supply according to the trade-off between their wages and the opportunity cost of informal caregiving. Sons respond either by working more or by reducing savings, depending on their parents' financial resources. We also identify spillovers to the third generation: grandsons reduce their labor supply in smaller or wealthier families, while granddaughters do so when they no longer live with their parents. Our findings highlight how changes in public long-term care provision reshape resource allocation and labor supply decisions across generations.

Migration is often motivated by parents' aspirations to secure better opportunities for their children. This paper quantifies the returns to international migration for migrants' children to examine the role of intergenerational investment motives in migration decisions. Combining unique administrative data covering the universe of Italians living abroad with cross-country survey data, and using a framework that accounts for selection bias, we estimate the effects of migration on children's education, employment, and income prospects. We find substantial heterogeneity across destinations: while children in some countries attain less education than they would have in Italy, migration increases their employment prospects and expected incomes across all destinations, with particularly large gains for women. We then incorporate these estimates into a random utility model and exploit variation in migration timing to show that parents factor their children's future opportunities into destination choices. In particular, parents who migrate after the birth of their first child are willing to forgo part of their own income gains to improve their children's prospects. These findings highlight the importance of intergenerational considerations in shaping international migration decisions.