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Modeling the Distribution and Intergenerational Transmission of Wealth

Author

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  • Smith, James D.

Abstract

This pioneering volume uses modern statistical and simulation techniques to explain the process of wealth transmission and the persistent problem of the unequal distribution of wealth. These papers reflect a shift from the traditional cross-sectional measurement to an intertemporal focus by attempting to model mathematically the actual process by which wealth is acquired and transmitted. There are many questions to be answered: What are the factors influencing saving? What is the role of mating? What decides ownership between spouses? How are rare assets distributed by divorce? What are the patterns of behavior in making gifts and bequests? And what is the effect of the relative ages of the persons involved?

Suggested Citation

  • Smith, James D., 1980. "Modeling the Distribution and Intergenerational Transmission of Wealth," National Bureau of Economic Research Books, University of Chicago Press, number 9780226764542, December.
    • Handle: RePEc:ucp:bknber:9780226764542
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    Citations

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    Cited by:

    1. Elizabeth Caucutt & Thomas Cooley & Nezih Guner, 2013. "The farm, the city, and the emergence of social security," Journal of Economic Growth, Springer, vol. 18(1), pages 1-32, March.
    2. Courtland Smith, 1991. "Measures and meaning in comparisons of wealth equlality," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 24(4), pages 367-392, June.
    3. Peter H. Lindert & Jeffrey G. Williamson, 2016. "American colonial incomes, 1650–1774," Economic History Review, Economic History Society, vol. 69(1), pages 54-77, February.
    4. María Inés Moraes & Rebeca Riella & Carolina Vicario & Pablo Marmisolle, 2021. "Wealth inequality in colonial Hispanic-America: Montevideo in the late 18th century," Documentos de Trabajo (working papers) 21-18, Instituto de Economía - IECON.
    5. Emmanuel Saez & Gabriel Zucman, 2014. "Wealth Inequality in the United States since 1913: Evidence from Capitalized Income Tax Data," NBER Working Papers 20625, National Bureau of Economic Research, Inc.
    6. Jérôme Bourdieu & Marta Menéndez & Gilles Postel-Vinay & Akiko Suwa-Eisenmann, 2008. "Where have (almost) all the wealthy gone? Spatial decomposition of wealth trends in France, 1820-1939," Review of Agricultural and Environmental Studies - Revue d'Etudes en Agriculture et Environnement, INRA Department of Economics, vol. 87(2), pages 5-25.
    7. Mahesh Karra & David Canning & Joshua Wilde, 2015. "A Simulation Model of the Effect of Fertility Reduction on Economic Growth in Africa," Working Papers 0315, University of South Florida, Department of Economics.
    8. Gabriel Zucman, 2019. "Global Wealth Inequality," Annual Review of Economics, Annual Reviews, vol. 11(1), pages 109-138, August.
    9. Heinrich Schlomann, 1991. "Der Einfluß von Erbschaften auf die Vermögenausstattung privater Haushalte im Jahr 1988," Discussion Papers of DIW Berlin 39a, DIW Berlin, German Institute for Economic Research.
    10. Thomas Goda, 2018. "The global concentration of wealth [Persistence of power, elites, and institutions]," Cambridge Journal of Economics, Oxford University Press, vol. 42(1), pages 95-115.
    11. Edward N. Wolff, 2014. "Household Wealth Trends in the United States, 1962-2013: What Happened over the Great Recession?," NBER Working Papers 20733, National Bureau of Economic Research, Inc.
    12. Steven F. Venti & David A. Wise, 2001. "Choice, Chance, and Wealth Dispersion at Retirement," NBER Chapters, in: Aging Issues in the United States and Japan, pages 25-64, National Bureau of Economic Research, Inc.
    13. Marc Robinson, 1983. "Social Security and Physical Capital: An Interpretation of the Evidence, Lessons and Outlook," UCLA Economics Working Papers 307, UCLA Department of Economics.
    14. William Newell, 1986. "Inheritance on the Maturing Frontier: Butler County, Ohio, 1803-1865," NBER Chapters, in: Long-Term Factors in American Economic Growth, pages 261-304, National Bureau of Economic Research, Inc.
    15. Philipp Korom, 2019. "A bibliometric visualization of the economics and sociology of wealth inequality: a world apart?," Scientometrics, Springer;Akadémiai Kiadó, vol. 118(3), pages 849-868, March.
    16. Choi, Sungsub & Kim, Sungjun & Shim, Gyoocheol, 2016. "Effect of lifetime uncertainty on consumption/investment with luxury bequest motives," Finance Research Letters, Elsevier, vol. 17(C), pages 275-279.
    17. Edward N. Wolff, 2012. "The Asset Price Meltdown and the Wealth of the Middle Class," NBER Working Papers 18559, National Bureau of Economic Research, Inc.
    18. Zhang, Jinhui & Purcal, Sachi & Wei, Jiaqin, 2021. "Optimal life insurance and annuity demand under hyperbolic discounting when bequests are luxury goods," Insurance: Mathematics and Economics, Elsevier, vol. 101(PA), pages 80-90.

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