This paper describes the current estate and gift tax rules that apply to intergenerational transfers in the US. It summarizes the incentives for inter vivos giving, gifts from a donor to a recipient while the donor is alive, as a strategy for reducing estate tax liability. It shows that the current level of intergenerational transfers is much lower than the level that would be implied by simple...

Combined heat and power systems are becoming more and more important, regarding their enhanced efficiency, energy saving, and environmental aspects. In the peresent study, three configurations of combined heat and power systems are intended as an alternative to separate production plant by considering environmental aspects. First and second laws of thermodynamics are adapted to the operatin...

A simple dynamic farm model is developed and used to analyse the net worth of a family farm grazing enterprise producing wool on the Northern Tablelands of New South Wales, Australia, under alternative assumptions regarding family expenses and investments in fertilizer. The linkage between family costs and expenditure on fertilizer is explored over a 25-year period highlighting the feed-back e€...

This paper examines the combined effect of asymmetric information and private entrepreneurial risk aversion on investment decisions. The standard optimal debt contract becomes modified by the introduction of insurance and a risk premium that entrepreneurs demand due to the uncertainty of their investment returns: the private equity premium. In general equilibrium, the private equity premium may...

This paper investigates the effect of private pensions on the retirement wealth distribution. We incorporate stochastic private pension coverage into a calibrated life-cycle model with stochastic earnings. Private pensions lead to higher net worth inequality at retirement, which is closer to the inequality observed in the PSID than a model without private pensions. However, the offset effect of...

Obesity is a rapidly growing public health issue. This paper investigates obesity's relationship to individuals' wealth by analyzing data from a large U.S. longitudinal socio-economic survey. The results show a large negative association between BMI and White female's net worth, a smaller negative association for Black women and White males and no relationship for Black males. Weight changes an...

OBJECTIVES To explore the predictors of symptom burden at the end of life. DESIGN Observational, secondary analysis of Health and Retirement Study (HRS) data. SETTING USA. PARTICIPANTS Two thousand six hundred four deceased, older adults. METHODS Multivariate Poisson and logistic regression to explore the relationship between sociodemographic and clinical factors with symptoms. RESULT...