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A Dynamic Model of Redistribution, Inheritance, and Inequality

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  • James B. Davies
  • Peter J. Kuhn

Abstract

Comparing steady states of an overlapping-generations economy, Gary S. Becker and Nigel Tomes (1979) and James B. Davies (1986) have noted that redistributive taxation can be disequalizing. This paper solves for the full transition path of inequality after a redistributive tax increase. The authors find, in contrast to the steady-state results, that redistribution "works' in the first generation under quite general conditions, even when fully anticipated by all previous generations. Further, inequality is likely to fall for several generations before approaching its new steady-state level from below.

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Bibliographic Info

Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 24 (1991)
Issue (Month): 2 (May)
Pages: 324-44

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Handle: RePEc:cje:issued:v:24:y:1991:i:2:p:324-44

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Cited by:
  1. Sexauer, Martin & Kleiber, Christian & Wälde, Klaus, 2005. "Bequests, taxation and the distribution of wealth in a general equilibrium model," W.E.P. - Würzburg Economic Papers 61, University of Würzburg, Chair for Monetary Policy and International Economics.
  2. Gokhale, Jagadeesh & Kotlikoff, Laurence J. & Sefton, James & Weale, Martin, 2001. "Simulating the transmission of wealth inequality via bequests," Journal of Public Economics, Elsevier, vol. 79(1), pages 93-128, January.
  3. Johann K. Brunner & Susanne Pech, 2008. "Optimum Taxation of Inheritances," CESifo Working Paper Series 2319, CESifo Group Munich.
  4. Hans Grüner, 1995. "Redistributive policy, inequality and growth," Journal of Economics, Springer, vol. 62(1), pages 1-23, February.
  5. Jagadeesh Gokhale & Laurence J. Kotlikoff, 2002. "The Impact of Social Security and Other Factors on the Distribution of Wealth," NBER Chapters, in: The Distributional Aspects of Social Security and Social Security Reform, pages 85-114 National Bureau of Economic Research, Inc.
  6. Wan, Jing & Zhu, Shenghao, 2012. "Intergenerational links, taxation, and wealth distribution," MPRA Paper 39511, University Library of Munich, Germany.

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