Capitalist Versus Family Bequest: An Econometric Model with Two Endogenous Regimes
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 InfoPaper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 96-06.
Length: 16 pages
Date of creation: 1996
Date of revision:
Find related papers by JEL classification:
- C00 - Mathematical and Quantitative Methods - - General - - - General
- D30 - Microeconomics - - Distribution - - - General
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
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