Inheritance, gifts and the accumulation of wealth for low-income households

Many low-income households in rich countries have very little wealth, but the role of intergenerational wealth transmission underpinning this deficit is not known. This article seeks to fill that gap by investigating patterns past transfer receipt for versus other seven and assessing contribution these transfers, or their absence, make current levels. We find on low incomes are relatively disadvantaged terms transfers received past, both likelihood having any amounts those who do benefit from such transfers. The disadvantage plays linkage between assessed evidence presented it significant. Simulation a universal scheme ‘capital endowment’ reaching adulthood two shows policy could lead marked decline proportion adults with negative no wealth. alternative complementary responses deficits merit most serious attention.