Showing 1 - 10 of 8,038
This paper finds that individuals in Japan do not leave very significant bequests, that parents often require a quid pro quo for bequests to their children, and that wealthier individuals leave less bequests, meaning that bequests ameliorate wealth inequalities
Persistent link: https://www.econbiz.de/10012758015
This paper extends the standard life cycle model to a world in which there are also capitalists. We obtain simple formulae describing the equilibrium fraction of wealth held by life-cycle savers. Using these formulae, we ascertain the effects of tax policy or changes in the parameters of the...
Persistent link: https://www.econbiz.de/10013022177
This paper attempts to estimate the size and distribution of tax evasion in rich countries. We combine random audits—the key source used to study tax evasion so far—with new micro-data leaked from large offshore financial institutions—HSBC Switzerland (“Swiss leaks”) and Mossack...
Persistent link: https://www.econbiz.de/10012948071
This paper examines the education literature through the lens of sorting. It argues that how individuals sort across neighborhoods, schools and households (spouses), can have important consequences for the acquisition of human capital and inequality. It discusses the implications of different...
Persistent link: https://www.econbiz.de/10013246367
This paper examines changes over time in the degree to which the resources (human plus nonhuman wealth) of the elderly have been annuitized. Using data from the 1962 and 1983 Federal Reserve Surveys of Consumer Finances we find evidence of an increase in annuitization which is particularly...
Persistent link: https://www.econbiz.de/10012774859
This paper attempts to quantitatively identify the factors that drive wealth dynamics in the U.S. and are consistent with its observed skewed cross-sectional distribution and social mobility. We concentrate on three critical factors: a skewed and persistent distribution of earnings, differential...
Persistent link: https://www.econbiz.de/10013011924
Households hold vastly heterogenous amounts of wealth when they reach retirement, and differences in lifetime earnings explain only part of this variation. This paper studies the role of intergenerational transmission of ability, voluntary bequest motives, and the recipiency of accidental and...
Persistent link: https://www.econbiz.de/10013055193
Experience in private pension plans and recent policy discussions about investment-based reforms of Social Security suggest that some form of bequest is likely to be part of any such reform that is enacted. This paper provides a first examination of the potential magnitudes of such bequests and...
Persistent link: https://www.econbiz.de/10013232002
. Intergenerational wealth immobility, also considered here, is primarily determined by the inheritance of skills from one's parents and … the magnification of the impact of this inheritance by marital sorting …
Persistent link: https://www.econbiz.de/10013215698
In this chapter, I review empirical and theoretical literature on taxation of intergenerational transfers (estates, bequests, inheritances, inter vivos gifts) and wealth. The main message may be summarized as follows. Empirical evidence on bequest motivations and responses to estate taxation is...
Persistent link: https://www.econbiz.de/10013097266