Black, Sandra E.; Devereux, Paul J.; Landaud, Fanny; … - 2022
as the capitalized sum of net labor income, government transfers, and gifts and inheritances received over the period … Inflows; this is true across the distribution of Total Inflows, as well as at all levels of net wealth.Gifts and inheritances … are only an important source of income flows among those who have very wealthy parents. Additionally, gifts and …