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Auswirkungen von Erbschaften und Schenkungen auf die Vermögensbildung privater Personen und Haushalte: Eine ökonometrische Analyse auf der Basis des Sozio-oekonomischen Panels

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  • Westerheide, Peter

Abstract

Die Untersuchung analysiert das Sparverhalten der über 30- bis unter 50jährigen Personen bzw. Haushalte mit Haushaltsvorständen in dieser Altersgruppe in Reaktion auf erhaltene Erbschaften bzw. Transfers zu Lebzeiten. Zugrunde liegen aktuelle Daten des Sozio-oekonomischen Panels. Mittels Querschnittsregressionen wird der Vermögensbestand in 2002 durch das Lebenszeiteinkommen und in der Vergangenheit erhaltene Erbschaften bzw. Schenkungen erklärt. Die Ergebnisse lassen eine hohe Sparneigung erkennen, die insbesondere auf den Erhalt von Immobilienvermögen zurückgeht. In Bezug auf liquideres Transfervermögen ist sind die Effekte weniger signifikant. Nach Vermögensklassen differenzierte Ergebnisse deuten darauf hin, dass von Unterschieden in der Sparneigung tendenziell verteilungsnivellierende Effekte ausgehen. -- This paper analyses the saving behaviour of German individuals and households aged between 30 and 50 with respect to inheritances and transfers inter vivos. The analysis is based on recent data of the German Socio-economic Panel. In crosssection regression analysis current wealth holdings are explained by past life-cycle income and transfers received. The results indicate a high propensity to save intergenerational transfers that include real estate. With regard to liquid assets the effects are less significant. Separating wealth classes with respect to lifecycle income shows that differences in saving propensities tend to make the distribution of wealth across households more equal.

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Bibliographic Info

Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 04-28.

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Date of creation: 2004
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Handle: RePEc:zbw:zewdip:1855

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Keywords: inheritances; saving; intergenerational transfers; Germany;

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References

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  1. Modigliani, Franco, 1988. "The Role of Intergenerational Transfers and Life Cycle Saving in the Accumulation of Wealth," Journal of Economic Perspectives, American Economic Association, vol. 2(2), pages 15-40, Spring.
  2. Axel Börsch-Supan & Anette Reil-Held & Ralf Rodepeter & Reinhold Schnabel & University of Mannheim & Germany, 2000. "Household Savings in Germany," Macroeconomics 0004053, EconWPA.
  3. Davies, James B. & Shorrocks, Anthony F., 2000. "The distribution of wealth," Handbook of Income Distribution, in: A.B. Atkinson & F. Bourguignon (ed.), Handbook of Income Distribution, edition 1, volume 1, chapter 11, pages 605-675 Elsevier.
  4. Kessler, Denis & Masson, Andre, 1989. "Bequest and Wealth Accumulation: Are Some Pieces of the Puzzle Missing?," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 141-52, Summer.
  5. Kotlikoff, Laurence J & Summers, Lawrence H, 1981. "The Role of Intergenerational Transfers in Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 706-32, August.
  6. Michael D. Hurd & James P. Smith, 1999. "Anticipated and Actual Bequests," NBER Working Papers 7380, National Bureau of Economic Research, Inc.
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Cited by:
  1. Peter Westerheide, 2005. "Auswirkungen von Erbschaften und Schenkungen auf die Vermögensbildung privater Personen und Haushalte, Eine empirische Analyse auf der Basis des Sozio-oekonomischen Panels," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 225(4), pages 459-481, July.

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