Wealth Accumulation in the U.S.: Do Inheritances and Bequests Play a Significant Role?
نویسندگان
چکیده
منابع مشابه
Wealth Accumulation in the U.S.: Do Inheritances and Bequests Play a Significant Role?∗
This paper formulates an overlapping generations model with both life–cycle saving and altruistic bequests. For a given distribution of earning abilities, the model generates a stationary steady–state capital–to–labor ratio for the economy as a whole and a stationary distribution of net worth among households. We calibrate the model, using the 1995 Survey of Consumer Finances to fix the distrib...
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15 صفحه اولBequests and Heterogeneity in Retirement Wealth∗
The data show large dispersion in households’ wealth holdings at retirement. In addition, the empirical correlation between household lifetime earnings and retirement wealth is much lower in the data than in many quantitative models. This paper quantifies and analyzes the implications of a life cycle model with intergenerational links (in the form of voluntary bequest motives and intergeneratio...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2001
ISSN: 1556-5068
DOI: 10.2139/ssrn.1084672