Answering the question of how much wealth inequality arises from inheritance inequality requires data that are unavailable and potentially uncollectable. The alternative approach taken here (from Blinder [1974, 1976] and Davies [1982]) is to simulate the transmission of inequality via bequests.

This paper analyzes questions related to defined contribution (DC) plans. For what types of households are statutory contribution limits likely to bind? How large is the lifetime tax benefit from participating in a DC plan and how does it vary with lifetime income? The authors find that...

An examination of the generational imbalance in current Norwegian fiscal policy, showing that despite the government's net wealth, future Norwegians could be facing lifetime net tax burdens twice as large as those confronting today's children.

How much should Americans save prior to retirement? Given Social Security's shaky financial condition, this is a critical question for baby boomers. A financial planning program-ESPlanner-is applied to data from the Health and Retirement Survey (HRS) to consider the amount that households...

An analysis of the changes since 1960 in the share of Americans' resources that are annuitized, which has declined slightly for younger Americans but has risen dramatically for the elderly, with important implications for the national saving rate and income inequality.

Auerbach et al. (1995), document the dramatic postwar increase in the annuitization of the resources of America’s elderly. Gokhale et al. (1996) suggest that greater annuitization may explain the significant postwar rise in the consumption propensity of the elderly out of remaining lifetime...

Contributing to 401(k)-type plans lowers current taxes, but does it lower lifetime taxes? If tax rates were independent of income and remained constant through time, the answer would be an unambiguous “yes.” But tax rates may be higher when retirement account withdrawals occur, either...

In hiring new workers, risk-neutral employers equate the present expected value of each worker's compensation to the present expected value of higher productivity, Data detailing how present expected compensation varies with the age of hire embed, therefore, information about how productivity...

An examination of the generational imbalance in current Italian fiscal policy, showing that unless dramatic steps are taken soon, future generations' net tax bill will be four or more times the amount that today's newborns are slated to pay.

A presentation of a large-scale, dynamic simulation model for comparing the equity, efficiency, and macroeconomic effects of five alternatives to the current U.S. federal income tax: a proportional income tax, a proportional consumption tax, a flat tax, a flat tax with transition relief, and a...