Succession capitaliste et succession familiale : un modèle économétrique à deux régimes endogènes
AbstractWealth is highly concentrated among a few very rich individuals. The usual models of wealth transmission offer life-cycle and family motives for bequests. The hypothesis here is that those motives are not likely to be active for very rich individuals. Using a sample of french estate records over-weighted in very rich individuals, we show, by estimating a model with two endogenous alternative regimes, that the variables influencing the bequests of the less rich are not active for the very wealthy.
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Bibliographic InfoArticle provided by ENSAE in its journal Annals of Economics and Statistics.
Volume (Year): (1998)
Issue (Month): 51 ()
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- Pierre Pestieau & Emmanuel Thibault, 2012. "Love thy children or money," Economic Theory, Springer, Springer, vol. 50(1), pages 31-57, May.
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