This study demonstrates how inter vivos transfers alter the life trajectories of young adults by (i) directly raising wealth levels and (ii) indirectly supporting wealth accumulation by impacting interest rates, borrowing, entrepreneurship, and spending. A unique Danish policy setting allows me...

This paper uses SOEP data to study the distributional effect of intergenerational transfers on the wealth distribution of German households. Similar to most other central European countries, Germany is likely to face a period of increasing aggregate bequest flows. At the same time, there is an...