The transfer of resources between individuals of different generations occurs on both the societal level, as the outcome of public policy or within the context of the private sector, and the family level, as in the exchange of emotional support and material goods. This discussion of the intergenerational exchange of resources will consider, first, the flow of resources within the context of the family; second, intergenerational transfers on the societal level; and last, the issue of equity in the transfer of resources intergenerationally. In addition, brief mention will be made of special circumstances, such as cross-cultural differences or the special case of divorce and stepfamilies.

The meaning of the word generation varies from setting to setting. In the family environment, the reference is primarily to lines of descent (grandparents, parents, children, etc.). However, each family member is also a member of a particular birth...