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The Impact of Intergenerational Transfers on Household Wealth Inequality in Japan and the United States

Yoko Niimi () and Charles Horioka ()

No 2016-20, AGI Working Paper Series from Asian Growth Research Institute

Abstract: To help shed light on the implications of intergenerational transfers for wealth inequality, this paper examines whether or not individuals who receive intergenerational transfers from their parents are more likely to leave bequests to their children than those who do not using data for Japan and the United States. The estimation results show that the receipt of intergenerational transfers from parents and/or parents-in-law increases the likelihood of individuals' leaving bequests to their own children in both Japan and the United States, which in turn is likely to contribute to the persistence or widening of wealth disparities. However, such a tendency is found to be stronger among less better-off households in both countries, and this may help alleviate the disequalizing effect of intergenerational transfers on the distribution of wealth, at least to some extent.

Keywords: bequests; education; inheritances; intergenerational transfers; inter vivos transfers; wealth distribution; wealth inequality (search for similar items in EconPapers)
JEL-codes: D10 D31 D64 E21 I24 (search for similar items in EconPapers)
Date: 2016-09
New Economics Papers: this item is included in nep-age and nep-dem
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Related works:
Working Paper: The Impact of Intergenerational Transfers on Household Wealth Inequality in Japan and the United States (2017) Downloads
Working Paper: The Impact of Intergenerational Transfers on Household Wealth Inequality in Japan and the United States (2016) Downloads
Working Paper: The Impact of Intergenerational Transfers on Household Wealth Inequality in Japan and the United States (2016) Downloads
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