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Wealth transfer taxation: a survey

  • Helmuth Cremer
  • Pierre Pestieau

The purpose of this paper is to survey the theoretical literature on wealth transfer taxation. The focus is normative: we are looking at the design of an optimal tax structure from the standpoint of both equity and efficiency. The gist of this survey is that the optimal design closely depends on the assumed bequest motives. Alternative bequest motives are thus analyzed either in isolation or combined.

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File URL: http://www.delta.ens.fr/abstracts/wp200320.pdf
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Paper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 2003-20.

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Date of creation: 2003
Handle: RePEc:del:abcdef:2003-20
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  1. Cremer, Helmuth & Pestieau, Pierre, 2001. "Non-linear taxation of bequests, equal sharing rules and the tradeoff between intra- and inter-family inequalities," Journal of Public Economics, Elsevier, vol. 79(1), pages 35-53, January.
  2. Cremer, Helmuth & Pestieau, Pierre, 2004. "Intergenerational Transfer of Human Capital and Optimal Education Policy," IDEI Working Papers 318, Institut d'Économie Industrielle (IDEI), Toulouse.
  3. Philippe Michel & Pierre Pestieau, 2004. "Fiscal Policy in an Overlapping Generations Model with Bequest-as-Consumption," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 6(3), pages 397-407, 08.
  4. Cremer, H. & Pestieau, P., 1986. "A case for differential inheritance taxation," CORE Discussion Papers 1986033, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. Cremer, Helmuth & Pestieau, Pierre, 1993. "Education for Attention: A Nash Bargaining Solution to the Bequest-as-Exchange Model," Public Finance = Finances publiques, , vol. 48(Supplemen), pages 85-97.
  6. Cremer, H & Pestieau, P, 1991. "Bequests, Filial Attention and Fertility," Economica, London School of Economics and Political Science, vol. 58(231), pages 359-75, August.
  7. Roland Benabou, 2002. "Tax and Education Policy in a Heterogeneous-Agent Economy: What Levels of Redistribution Maximize Growth and Efficiency?," Econometrica, Econometric Society, vol. 70(2), pages 481-517, March.
  8. BOADWAY, Robin & MARCHAND, Maurice & PESTIEAU, Pierre, "undated". "Redistribution with unobservable bequests: a case for taxing capital income," CORE Discussion Papers RP 1457, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  9. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
  10. MICHEL, Philippe & PESTIEAU , Pierre, 1994. "Fiscal Policy in a Growth Model with Both Altruistic and Non Altruistic Agents," CORE Discussion Papers 1994049, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  11. N. Gregory Mankiw, 1999. "The Savers-Spenders Theory of Fiscal Policy," Harvard Institute of Economic Research Working Papers 1888, Harvard - Institute of Economic Research.
  12. Batina, Raymond G. & Ihori, Toshihiro, 2000. "Consumption Tax Policy and the Taxation of Capital Income," OUP Catalogue, Oxford University Press, number 9780198297901, December.
  13. William G. Gale & Joel B. Slemrod, 2001. "Rethinking the Estate and Gift Tax: Overview," NBER Working Papers 8205, National Bureau of Economic Research, Inc.
  14. Kenneth L. Judd, 1982. "Redistributive Taxation in a Simple Perfect Foresight Model," Discussion Papers 572, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  15. H. Cremer & P. Pestieau, 1998. "Delaying Inter Vivos Transmissions Under Asymmetric Information," Southern Economic Journal, Southern Economic Association, vol. 65(2), pages 322-330, October.
  16. Aaron, Henry J. & Munnell, Alicia H., 1992. "Reassessing the Role for Wealth Transfer Taxes," National Tax Journal, National Tax Association, vol. 45(2), pages 119-43, June.
  17. MICHEL, Philippe & PESTIEAU, Pierre, 2002. "Wealth transfer taxation with both accidental and planned bequests," CORE Discussion Papers 2002059, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  18. Stiglitz, Joseph E, 1978. "Notes on Estate Taxes, Redistribution, and the Concept of Balanced Growth Path Incidence," Journal of Political Economy, University of Chicago Press, vol. 86(2), pages S137-50, April.
  19. Pestieau, P. M., 1974. "Optimal taxation and discount rate for public investment in a growth setting," Journal of Public Economics, Elsevier, vol. 3(3), pages 217-235, August.
  20. Becker, Gary S & Tomes, Nigel, 1986. "Human Capital and the Rise and Fall of Families," Journal of Labor Economics, University of Chicago Press, vol. 4(3), pages 1-39, July.
  21. Cremer, Helmuth & Pestieau, Pierre, 1996. "Bequests as a Heir "Discipline Device."," Journal of Population Economics, Springer;European Society for Population Economics, vol. 9(4), pages 405-414, November.
  22. Davies, James B, 1981. "Uncertain Lifetime, Consumption, and Dissaving in Retirement," Journal of Political Economy, University of Chicago Press, vol. 89(3), pages 561-577, June.
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  24. MICHEL, Philippe & PESTIEAU, Pierre, 2002. "Fiscal policy with agents differing in altruism and in ability," CORE Discussion Papers 2002049, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  25. Tomer Blumkin & Efraim Sadka, 2001. "Estate Taxation," CESifo Working Paper Series 558, CESifo Group Munich.
  26. Altonji, Joseph G & Hayashi, Fumio & Kotlikoff, Laurence J, 1992. "Is the Extended Family Altruistically Linked? Direct Tests Using Micro Data," American Economic Review, American Economic Association, vol. 82(5), pages 1177-1198, December.
  27. Brenner, Gabrielle A., 1985. "Why did inheritance laws change?," International Review of Law and Economics, Elsevier, vol. 5(1), pages 91-106, June.
  28. Emmanuel Saez, 2002. "Optimal Progressive Capital Income Taxes in the Infinite Horizon Model," NBER Working Papers 9046, National Bureau of Economic Research, Inc.
  29. Poterba, James, 2001. "Estate and gift taxes and incentives for inter vivos giving in the US," Journal of Public Economics, Elsevier, vol. 79(1), pages 237-264, January.
  30. Atkinson, A. B. & Stiglitz, J. E., 1972. "The structure of indirect taxation and economic efficiency," Journal of Public Economics, Elsevier, vol. 1(1), pages 97-119, April.
  31. Andreoni, James, 1990. "Impure Altruism and Donations to Public Goods: A Theory of Warm-Glow Giving?," Economic Journal, Royal Economic Society, vol. 100(401), pages 464-77, June.
  32. Glomm, Gerhard & Ravikumar, B, 1992. "Public versus Private Investment in Human Capital Endogenous Growth and Income Inequality," Journal of Political Economy, University of Chicago Press, vol. 100(4), pages 818-834, August.
  33. A. B. Atkinson, 1971. "Capital Taxes, the Redistribution of Wealth and Individual Savings," Review of Economic Studies, Oxford University Press, vol. 38(2), pages 209-227.
  34. Boadway, Robin & Keen, Michael, 2000. "Redistribution," Handbook of Income Distribution, in: A.B. Atkinson & F. Bourguignon (ed.), Handbook of Income Distribution, edition 1, volume 1, chapter 12, pages 677-789 Elsevier.
  35. Joel Slemrod & Wojciech Kopczuk, 2000. "The Impact of the Estate Tax on the Wealth Accumulation and Avoidance Behavior of Donors," NBER Working Papers 7960, National Bureau of Economic Research, Inc.
  36. Bernheim, B Douglas & Shleifer, Andrei & Summers, Lawrence H, 1986. "The Strategic Bequest Motive," Journal of Labor Economics, University of Chicago Press, vol. 4(3), pages 151-182, July.
  37. Kotlikoff, Laurence J & Spivak, Avia, 1981. "The Family as an Incomplete Annuities Market," Journal of Political Economy, University of Chicago Press, vol. 89(2), pages 372-391, April.
  38. ColemanII, Wilbur John, 2000. "Welfare and optimum dynamic taxation of consumption and income," Journal of Public Economics, Elsevier, vol. 76(1), pages 1-39, April.
  39. Atkinson, A B & Sandmo, A, 1980. "Welfare Implications of the Taxation of Savings," Economic Journal, Royal Economic Society, vol. 90(359), pages 529-49, September.
  40. Abel, Andrew B, 1985. "Precautionary Saving and Accidental Bequests," American Economic Review, American Economic Association, vol. 75(4), pages 777-791, September.
  41. Pierre Pestieau, 2002. "The Role of Gift and Estate Transfers in the United States and in Europe," CREPP Working Papers 0202, Centre de Recherche en Economie Publique et de la Population (CREPP) (Research Center on Public and Population Economics) HEC-Management School, University of Liège.
  42. Arrondel, L. & Masson, A. & Pestieau, P., "undated". "Bequests and inheritance: empirical issues and France-U.S. comparison," CORE Discussion Papers RP 1274, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  43. Wojciech Kopczuk, 2002. "The Trick is to Live: Is the Estate Tax Social Security for the Rich?," NBER Working Papers 9188, National Bureau of Economic Research, Inc.
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  46. Atkinson, A. B. & Stiglitz, J. E., 1976. "The design of tax structure: Direct versus indirect taxation," Journal of Public Economics, Elsevier, vol. 6(1-2), pages 55-75.
  47. CREMER, Helmuth & PESTIEAU , Pierre & ROCHET, Jean-Charles, "undated". "Direct versus indirect taxation: the design of the tax structure revisited," CORE Discussion Papers RP 1528, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  48. Cox, Donald, 1987. "Motives for Private Income Transfers," Journal of Political Economy, University of Chicago Press, vol. 95(3), pages 508-546, June.
  49. Chamley, Christophe, 1986. "Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives," Econometrica, Econometric Society, vol. 54(3), pages 607-622, May.
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