. Our first main result is that the more the heir inherits, the lower her labor income becomes. This labor supply effect … transfer. Our second main result is that the more the heir inherits, the higher her capital income becomes. This savings effect …

In this paper we use newly compiled top income share data to estimate common breaks and trends across countries over … seem to be as clear cut as previously suggested. Some continental European countries have had increases in top income … display a marked "Anglo-Saxon" pattern, with sharply increased top income shares. Unlike in the Anglo-Saxon countries, however …