Saving, Wealth, and the Exchange-Bequest Motive

William Lord

Canadian Journal of Economics, 1992, vol. 25, issue 3, 743-53

Abstract: A model of exchange-motivated bequests based upon childrens' "attentions" to parents, provided when the children are young adults, is joined to a standard life-cycle specification to examine the consequences for wealth and savings. The results of general equilibrium simulations show contribution to be far below some recent estimates. Exchange-motivated bequests produce offsets to life-cycle savings that limit their ability to increase total savings.

Date: 1992
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