Bequests, inter vivos transfers, and wealth distribution
Bequests, inter vivos transfers, and wealth distribution
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遗赠、生前转让和财富分配
DOI:
10.1006/redy.2002.0185
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发表时间:
2002
影响因子:
2
通讯作者:
Shin’ichi Nishiyama
中科院分区:
文献类型:
--
作者:
Shin’ichi Nishiyama
This paper constructs a heterogeneous agent overlapping generations model with bequests and inter vivos transfers. In the model, households in the same family line behave strategically to determine their consumption, working hours, gifts, and savings. Calibrating the model to the U.S. economy, the paper measures time preference and parental altruism consistent with the economy's capital-output ratio and the size of intergenerational transfers. The model with intergenerational transfers better explains, although not fully, the wealth distribution of the United States. The paper also analyzes the effects of government policy changes on wealth accumulation, distribution, and social welfare. (Copyright: Elsevier)