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New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals : Part Iii: Life Cycle Savings vs. Inherited Savings

Stiglitz, Joseph E. - 2015

This paper extends the standard life cycle model to a world in which there are also capitalists. We obtain simple …

Persistent link: https://www.econbiz.de/10013022177

The Demographics of Intergenerational Transmission of Wealth : An Empirical Study of Testacy and Intestacy on Family Property

Wright, Danaya C. - 2021

In this article, I analyze many of the differences between testate and intestate decedents and suggest areas of concern for law- and policy-makers, as well as practicing lawyers and financial planners. Identifying the right demographic at risk for wealth deterioration may allow for interventions...

Persistent link: https://www.econbiz.de/10013228602

Why Is the Distribution of Wealth More Unequal than the Distribution of Income : The Importance of Gifts and Bequests in Economic Inequality

Sanchirico, Chris William - 2015

Inequality in the distribution of wealth may be explained by differences in work effort, ability, savings behavior, rates of return, taxes and transfers, and gift and bequests (private transfers). The relative importance of these factors has important implications for public policy. Policy...

Persistent link: https://www.econbiz.de/10014025949

Bequests and Heterogeneity in Retirement Wealth

De Nardi, Mariacristina - 2014

Households hold vastly heterogenous amounts of wealth when they reach retirement, and differences in lifetime earnings explain only part of this variation. This paper studies the role of intergenerational transmission of ability, voluntary bequest motives, and the recipiency of accidental and...

Persistent link: https://www.econbiz.de/10013055193

Love and Money with Inheritance : Marital Sorting by Labor Income and Inherited Wealth in the Modern Partnership

Pasteau, Etienne - 2019

affected by inheritance distribution. The relative attraction derived from inherited wealth and acquired human capital in …, covering both labor income and inheritance. This paper studies the concentration and substitutability of these two traits in … outcomes seen in France. By assuming a sequential revelation of inheritance and labor income in marital sorting, we develop a …

Persistent link: https://www.econbiz.de/10012898443

Why are the wealthiest so wealthy? : a longitudinal empirical investigation

Ozkan, Serdar; Hubmer, Joachim; Salgado, Sergio; … - 2023

We use Norwegian administrative panel data on wealth and income between 1993 and 2015 to study lifecycle wealth dynamics, focusing on the wealthiest households. On average, the wealthiest start their lives substantially richer than other households in the same cohort, own mostly private equity,...

Persistent link: https://www.econbiz.de/10014234055

Heterogeneous bequests and social inequalities

Borissov, Kirill; Bosi, Stefano; Thai Ha Huy; Pakhnin, … - 2023

We study a growth model with two types of agents who are heterogeneous in their degree of family altruism. We prove that every equilibrium path converges to a unique steady state, and study the effect of altruism on the properties of steady-state equilibrium. We show that aggregate income is...

Persistent link: https://www.econbiz.de/10014384038

The Economics of Bequests in Pensions and Social Security

Feldstein, Martin S.; Ranguelova, Elena - 2021

Experience in private pension plans and recent policy discussions about investment-based reforms of Social Security suggest that some form of bequest is likely to be part of any such reform that is enacted. This paper provides a first examination of the potential magnitudes of such bequests and...

Persistent link: https://www.econbiz.de/10013232002

Simulating the Transmission of Wealth Inequity Via Bequests

Gokhale, Jagadeesh; Kotlikoff, Laurence J.; Sefton, James A. - 2021

. 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 …

Persistent link: https://www.econbiz.de/10013215698

Inheritance and the distribution of wealth

Cowell, Frank A. - 1998

Persistent link: https://www.econbiz.de/10001542503