Heterogeneity of the Carnegie Effect

Erlend Bø, Elin Halvorsen and Thor Thoresen

Journal of Human Resources, 2019, vol. 54, issue 3, 726-759

Abstract: The Carnegie effect is the harm inherited wealth does to a recipient’s work effort. Carnegie effect estimates are few, reflecting that such effects are hard to trace. Most previous studies rely on data from limited-size surveys. We use information from administrative data covering the entire Norwegian population, enabling an examination of the heterogeneity of the Carnegie effect. Estimation results show significant reductions in labor supply for recipients of large inheritances. We find that Carnegie effects differ according to transfer size, the recipient’s age and eligibility for other transfer programs, and the existence of new heirs in the family chain.

JEL-codes: D10 D80 D91 J22 (search for similar items in EconPapers)
Date: 2019
Note: DOI: 10.3368/jhr.54.3.0915.7366R1
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Citations: View citations in EconPapers (10)

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Related works:
Working Paper: Heterogeneity of the Carnegie Effect (2016)
Working Paper: Heterogeneity of the Carnegie Effect (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:jhriss:v:54:y:2019:i:3:p:726-759

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