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Saving, Wealth, and the Exchange-Bequest Motive

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  • William A. Lord

Abstract

A model of exchange-motivated bequests based upon childrens' "attentions" to parents, provided when the children are young adults, is joined to a standard life-cycle specification to examine the consequences for wealth and savings. The results of general equilibrium simulations show contribution to be far below some recent estimates. Exchange-motivated bequests produce offsets to life-cycle savings that limit their ability to increase total savings.

Suggested Citation

  • William A. Lord, 1992. "Saving, Wealth, and the Exchange-Bequest Motive," Canadian Journal of Economics, Canadian Economics Association, vol. 25(3), pages 743-753, August.
  • Handle: RePEc:cje:issued:v:25:y:1992:i:3:p:743-53
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    Cited by:

    1. Wolff, Francois-Charles, 2006. "Microeconomic models of family transfers," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier.
    2. Lord, William & Rangazas, Peter, 1998. "Capital Accumulation and Taxation in a General Equilibrium Model with Risky Human Capital," Journal of Macroeconomics, Elsevier, vol. 20(3), pages 509-531, July.
    3. Bullard, James & Russell, Steven, 1999. "An empirically plausible model of low real interest rates and unbacked government debt," Journal of Monetary Economics, Elsevier, vol. 44(3), pages 477-508, December.

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