Do Germans Save to Leave an Estate? An Examination of the Bequest Motive

Hendrik Jurges
Authors registered in the RePEc Author Service: Hendrik Juerges

Scandinavian Journal of Economics, 2001, vol. 103, issue 3, 391-414

Abstract: I investigate whether a bequest motive for savings influences the post‐retirement wealth trajectories of German households. Two measures of the bequest motive are studied: the existence of children as the main group of potential heirs and the respondents' declared intention to bequeath. While having children has no significant impact on households' wealth trajectories, stated bequest intentions are associated with considerable heterogeneity in wealth holdings. The main conclusion from this study is that both the pure life‐cycle model and the life‐cycle model with bequest motives provide a valid basis for a theory of household wealth accumulation once the heterogeneity of preferences is acknowledged. JEL classification: D91; J14

Date: 2001
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