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Heterogeneous Bequests and Social Inequalities

Borissov, Kirill; Bosi, Stefano; Ha-Huy, Thai; Pakhnin, … - 2023

We study a growth model with two types of agents who are heterogeneous in their degree of family altruism. We prove … that every equilibrium path converges to a unique steady state, and study the effect of altruism on the properties of … steady-state equilibrium. We show that aggregate income is positively related to both level of altruism and altruism …

Persistent link: https://www.econbiz.de/10014469860

Unequal Bequests

Francesconi, Marco; Pollak, Robert A.; Tabasso, Domenico - 2015

Using data from the Health and Retirement Study (HRS), we make two contributions to the literature on end-of-life transfers. First, we show that unequal bequests are much more common than generally recognized, with one-third of parents with wills planning to divide their estates unequally among...

Persistent link: https://www.econbiz.de/10010480825

Efficiency in family bargaining: living arrangements and caregiving decisions of adult children and disabled elderly parents

Pezzin, Liliana E.; Pollak, Robert A.; Schone, Barbara S. - 2007

In this paper, we use a two-stage bargaining model to analyze the living arrangement of a disabled elderly parent and the assistance provided to the parent by her adult children. The first stage determines the living arrangement: the parent can live in a nursing home, live alone in the...

Persistent link: https://www.econbiz.de/10010264063

Demographic change and regional labour markets: the case of Eastern Germany

Henschel, Beate; Pohl, Carsten; Thum, Marcel - 2008

Demographic change will be one of the most challenging issues for industrialized economies in the decades to come. In this paper, we focus on the impact of demographic change on labour markets. By setting up a stylized model of a regional labour market, we are able to analyze the interaction of...

Persistent link: https://www.econbiz.de/10010264373

Macroeconomic modeling when agents are imperfectly informed

De Grauwe, Paul - 2008

DSGE-models have become important tools of analysis not only in academia but increasingly in the board rooms of central banks. The success of these models has much to do with the coherence of the intellectual framework it provides. The limitations of these models come from the fact that they...

Persistent link: https://www.econbiz.de/10010273776

Tax incentives, bequest motives, and the demand for life insurance: Evidence from two natural experiments in Germany

Sauter, Nicolas; Walliser, Jan; Winter, Joachim - 2010

Whole life insurance plays an important role in household saving. However, empirical evidence on its determinants is scarce. This paper studies two natural experiments to identify the effects of tax incentives and bequest motives on life-insurance demand. An unanticipated tax reform in 2000...

Persistent link: https://www.econbiz.de/10010270489

Opportunity and Inequality across Generations

Koeniger, Winfried; Zanella, Carlo - 2020

We analyze inequality and mobility across generations in a dynastic economy. Nurture, in terms of bequests and the schooling investment into the next generation, is observable but the draw of nature in terms of ability is hidden, stochastic and persistent across generations. We calibrate the...

Persistent link: https://www.econbiz.de/10012179898

Why Are the Wealthiest So Wealthy? A Longitudinal Empirical Investigation

Ozkan, Serdar; Hubmer, Joachim; Salgado, Sergio; … - 2023

We use Norwegian administrative panel data on wealth and income between 1993 and 2015 to study lifecycle wealth dynamics, focusing on the wealthiest households. On average, the wealthiest start their lives substantially richer than other households in the same cohort, own mostly private equity,...

Persistent link: https://www.econbiz.de/10014290234

Pareto-improving bequest taxation

Grossmann, Volker; Poutvaara, Panu - 2005

Altruistic parents may transfer resources to their offspring by providing education, and by leaving bequests. We show that in the presence of wage taxation, a small bequest tax may improve efficiency in an overlapping-generations framework with only intended bequests, by enhancing incentives of...

Persistent link: https://www.econbiz.de/10010261311

Intergenerational risk-sharing and risk-taking of a pension fund

Gollier, Christian - 2007

By using their financial reserves efficiently, pension funds can smooth shocks on asset returns, and can thus facilitate intergenerational risk-sharing. In addition to the primary benefit of improved time diversification, this form of risk allocation affords the additional benefit of allowing...

Persistent link: https://www.econbiz.de/10010264109

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