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Simulating the transmission of wealth inequality via bequests

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Author Info
Jagadeesh Gokhale
Laurence J. Kotlikoff
James Sefton
Martin Weale

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Abstract

Answering the question of how much wealth inequality arises from inheritance inequality requires data that are unavailable and potentially uncollectable. The alternative approach taken here (from Blinder [1974, 1976] and Davies [1982]) is to simulate the transmission of inequality via bequests.

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Paper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 9811.

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Length: 46
Date of creation: 1998
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Handle: RePEc:fip:fedcwp:9811

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Keywords: Wealth;

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  24. Alan J. Auerbach & Jagadeesh Gokhale & Laurence J. Kotlikoff & John Sabelhaus & David N. Weil, 1995. "The Annuitization of Americans' Resources: A Cohort Analysis," NBER Working Papers 5089, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  25. Tomes, Nigel, 1981. "The Family, Inheritance, and the Intergenerational Transmission of Inequality," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 928-58, October. [Downloadable!] (restricted)
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  33. Blinder, Alan S, 1973. "A Model of Inherited Wealth," The Quarterly Journal of Economics, MIT Press, vol. 87(4), pages 608-26, November. [Downloadable!] (restricted)
  34. Davies, J B & Shorrocks, Anthony F, 1978. "Assessing the Quantitative Importance of Inheritance in the Distribution of Wealth," Oxford Economic Papers, Oxford University Press, vol. 30(1), pages 138-49, March. [Downloadable!] (restricted)
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  36. Michael D. Hurd, 1989. "Savings and Bequests," NBER Working Papers 1826, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  39. Altonji, Joseph G & Hayashi, Fumio & Kotlikoff, Laurence J, 1997. "Parental Altruism and Inter Vivos Transfers: Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 105(6), pages 1121-66, December.
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