Inheriting inequality: institutional influences on the distribution of wealth

Alan Isaac

Journal of Post Keynesian Economics, 2007, vol. 30, issue 2, 187-203

Abstract: This paper presents simulation results for the distribution of wealth. The object is to illustrate the importance of institutions for understanding intergenerational wealth dynamics and the asymptotic tendency of wealth inequality. The focal institutions are the family and the state. Familial institutions, particularly marriage, prove to be core determinants of wealth inequality. State tax and transfer policies also have important effects on wealth inequality. The result that reductions in the estate tax exclusion can substantially increase wealth inequality provides a context for current public policy debates.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:mes:postke:v:30:y:2007:i:2:p:187-203

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DOI: 10.2753/PKE0160-3477300203

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