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E1b Multigenerational Living and the Double Burden among Korean Baby Boomers: Within–Between Evidence on Life Satisfaction
Short Description
This study investigates how intergenerational economic responsibilities, together with baby boomers' health and financial characteristics, are related to their life satisfaction. Baby boomers, often described as both an affluent generation and a burdened "sandwich generation," face prolonged support to adult children and continued transfers to elderly parents. Drawing on ten annual waves of a nationally representative Korean household panel, we examine these factors in relation to seven domains of life satisfaction: income, leisure, housing, family, relatives/kin, friendship/social ties, and overall life. Using correlated random-effects models with year fixed effects, we distinguish within-household changes from between-household differences. The results show that health and metropolitan residence are the strongest correlates of life satisfaction, while intergenerational burdens are more limited and domain specific. A greater number of co-resident children provides a small increase in satisfaction, but adult-child co-residence and financial support to parents are largely unrelated to shifts of satisfaction. These findings underscore the importance of health promotion and place-based policy strategies while suggesting that the widely invoked "sandwich generation" narrative may not be the most critical factor shaping baby boomers' well-being.
Type of presentation
Accepted Oral Presentation