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This paper formulates an overlapping generations model with both life-cycle saving and altruistic bequests. For a given distribution of earning abilities, the model generates a stationary steady-state capital-to-labor ratio for the economy as a whole and a stationary distribution of net worth...
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. Intergenerational wealth immobility, also considered here, is primarily determined by the inheritance of skills from one's parents and … the magnification of the impact of this inheritance by marital sorting …
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