Wealth, Inequality, and Altruistic Bequests
نویسندگان
چکیده
منابع مشابه
Simulating the Transmission of Wealth Inequality via Bequests
This paper develops, calibrates, and simulates a dynamic 88-period OLG model to study the intergenerational transmission of U.S. wealth inequality via bequests. The model features marriage, realistic fertility patterns, random death, assortative mating based on skills, heterogeneous skill endowments, heterogeneous rates of return, skill inheritability, progressive income taxation, and resource ...
متن کاملExplaining the Top Tail of the Wealth Distribution: Capitalist Spirit or Altruistic Bequests?
The aim of this paper is to explain the wealth distribution in the US economy, in particular the high concentration of wealth at the very top end of the distribution. In the literature it was conjectured that rich households accumulate more wealth (given their income) than what can be explained by standard consumption/saving models. To address this issue, I develop a general equilibrium heterog...
متن کاملBequests, Inter Vivos Transfers, and Wealth Distribution
This paper extends the heterogeneous agent overlapping generations model with bequests in Nishiyama (2000) by adding two-way intergenerational altruism and inter vivos transfers. Calibrating the model to the U.S. economy, the paper measures time preference and intergenerational altruism consistent with the economy¶s capital-output ratio and the sizes of intergenerational transfers. In the model...
متن کاملCharitable Bequests and Wealth at Death
Charitable Bequests and Wealth at Death Charitable bequests are a major source of income for charities but surprisingly little is known about them. The aim of this paper is to propose a multi-stage framework for analysing the bequest decision and to examine the evidence for Great Britain provided by new data on estates. The novelty of the framework is that it distinguishes between the different...
متن کاملBequests and Heterogeneity in Retirement Wealth∗
The data show large dispersion in households’ wealth holdings at retirement. In addition, the empirical correlation between household lifetime earnings and retirement wealth is much lower in the data than in many quantitative models. This paper quantifies and analyzes the implications of a life cycle model with intergenerational links (in the form of voluntary bequest motives and intergeneratio...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2001
ISSN: 1556-5068
DOI: 10.2139/ssrn.1084670