the United States and Japan. Second, we use tax data to estimate the magnitude of intergenerational transfers. The … intergenerational transfers, an issue of current controversy. In both Japan and the United States, a substantial portion of wealth, and … especially of land in Japan, is bequeathed from one generation to the next …

decisions, and the tax system in the United States and Japan. To investigate this issue, we first document the stylized fact … rate is shown to contribute to a higher aggregate saving rate in Japan compared to the U.S. However, the contribution of … Japan. Finally, tax reform concerning the tax deductibility of mortgage interest payments or the tax exempt status of …