We study the effect of bequests and their taxation on wealth inequality. We allow for random death and birth in a … continuous-time, dynastic framework. Individuals behave optimally and accumulate wealth over their lifetime. Bequests above a tax … exemption threshold are taxed according to a fixed rate. We derive a stochastic differential equation modeling dynastic wealth …

light on the impact of intergenerational transfers on household wealth disparities and on possible reasons for the … substantial differences in household wealth disparities among the 4 countries. Almost all of the evidence I present suggests that … intergenerational transfers have a disequalizing impact on household wealth disparities and promote the transmission of household wealth …

well as at all levels of net wealth at a point in time. Gifts and inheritances are only an important source of income flows … Inflows available to an individual (defined as the capitalized sum of net labor income, government transfers, and gifts and … much different from the actual distribution. Our findings suggest that inheritance taxes may do little to mitigate the …

from the "Survey of Italian Households' Income and Wealth," a panel survey of households conducted every two years by the …In this paper, we analyze the wealth accumulation and saving behavior of the retired elderly in Italy using micro data … Bank of Italy. We find that, on average, the retired elderly in Italy are decumulating their wealth (dissaving) but that …