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...

This paper examines the role of bequests and of taxation on bequests for the distribution of wealth. We investigate a model with overlapping generations and heterogenous households where parents derive utility directly from their bequests. Using the coefficient of variation as measure of...

The world's oldest travel company Thomas Cook, the British tour operator with 19 million yearly clients, after 178 years of service, has officially announced that it would be liquidating its assets and filed for bankruptcy, despite attempts to rescue the brand. The low-cost travel firms and...