On the Distribution of Wealth and Intergenerational Transfers
Yannis M Ionnides and
Authors registered in the RePEc Author Service: Yannis Ioannides ()
Journal of Labor Economics, 1987, vol. 5, issue 3, 366-85
The authors develop a simple behavioral model of intergenerational transfers, with individuals be ing subject to uncertainty about their children's incomes. Individual s differ with respect to innate ability and to wealth transfers they receive at birth. The distributions of total wealth, of total income, and of their components are uniquely determined from the equilibrium distribution of intergenerational transfers, for which existence an d uniqueness are proven. For a particular utility function, and provi ded that earned income follows a stable law, the authors show that so do all endogenous distributions. Intergenerational transfers are rel atively more equally distributed than earnings, capital income, and l ifetime wealth. Copyright 1987 by University of Chicago Press.
References: Add references at CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
http://dx.doi.org/10.1086/298152 full text (application/pdf)
Access to full text is restricted to subscribers. See http://www.journals.uchicago.edu/JOLE for details.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ucp:jlabec:v:5:y:1987:i:3:p:366-85
Access Statistics for this article
More articles in Journal of Labor Economics from University of Chicago Press
Bibliographic data for series maintained by Journals Division ().