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with only intended bequests, by enhancing incentives of parents to invest in their children's education. This result holds …
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with only intended bequests, by enhancing incentives of parents to invest in their children's education. This result holds …
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implications. We test the predictions of our theory employing a unique policy shock: the abolition of bequest and donation taxation …
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We study the dynamics of the distribution of overlapping generation economy with finitely lived agents and inter-generational transmission of wealth. Financial markets are incomplete, exposing agents to both labor income and capital income risk. We show that the stationary wealth distribution is...
Persistent link: https://www.econbiz.de/10012764838
We study the dynamics of the distribution of overlapping generation economy with finitely lived agents and inter-generational transmission of wealth. Financial markets are incomplete, exposing agents to both labor income and capital income risk. We show that the stationary wealth distribution is...
Persistent link: https://www.econbiz.de/10012463917