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Do Bequests Increase or Decrease Wealth Inequalities?

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  • Charles Yuji Horioka

Abstract

This paper finds that individuals in Japan do not leave very significant bequests, that parents often require a quid pro quo for bequests to their children, and that wealthier individuals leave less bequests, meaning that bequests ameliorate wealth inequalities.

Suggested Citation

  • Charles Yuji Horioka, 2009. "Do Bequests Increase or Decrease Wealth Inequalities?," ISER Discussion Paper 0729, Institute of Social and Economic Research, The University of Osaka.
    • Handle: RePEc:dpr:wpaper:0729
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    File URL: https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2009/DP0729.pdf
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    References listed on IDEAS

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    1. Thomas A. Barthold & Takatoshi Ito, 1992. "Bequest Taxes and Accumulation of Household Wealth: U.S.-Japan Comparison," NBER Chapters, in: The Political Economy of Tax Reform, pages 235-292, National Bureau of Economic Research, Inc.
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    3. Fumio Hayashi, 1986. "Why Is Japan's Saving Rate So Apparently High?," NBER Chapters, in: NBER Macroeconomics Annual 1986, Volume 1, pages 147-234, National Bureau of Economic Research, Inc.
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    8. 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.
    9. C. Y. Horioka & H. Fujisaki & W. Watanabe & T. Kouno, 2000. "Are Americans More Altruistic than the Japanese? A U.S.-Japan Comparison of Saving and Bequest Motives," International Economic Journal, Taylor & Francis Journals, vol. 14(1), pages 1-31.
    10. Horioka, C.Y. & Fujisaki, H. & Watanabe, W. & Kouno, T., 1999. "Are Americans more Altruistic than the Japanese Comparison of Saving and Bequest Motives," ISER Discussion Paper 0487, Institute of Social and Economic Research, The University of Osaka.
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    More about this item

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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