Bequests

Charles Horioka

No 2025-12, AGI Working Paper Series from Asian Growth Research Institute

Abstract: In this paper, we discuss bequests and other intergenerational transfers and what impact they have on the consumption, saving, and labor supply behavior of households. We show that bequests and other intergenerational transfers are prevalent in most countries, that they are sometimes motivated by altruism and sometimes by selfishness, that they affect the consumption and saving behavior of households to some extent, especially that of elderly households, that they affect the labor supply behavior of households, especially that of bequest recipients, and that they have important policy implications.

Keywords: altruism; bequests; consumption; inter vivos transfers; intergenerational transfers; labor supply; life-cycle model; long-term care insurance; Ricardian equivalence; saving; selfishness; strategic bequest motive; wealth disparities (search for similar items in EconPapers)
JEL-codes: D11 D12 D14 D15 D31 D64 E21 H3 J22 (search for similar items in EconPapers)
Date: 2025-06
New Economics Papers: this item is included in nep-eur and nep-fdg
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https://agi.repo.nii.ac.jp/records/2000213 (text/html)
https://agi.repo.nii.ac.jp/record/2000213/files/WP2025-12.pdf (application/pdf)

Related works:
Working Paper: Bequests (2025)
Working Paper: Bequests (2025)
Working Paper: Bequests (2025)
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Persistent link: https://EconPapers.repec.org/RePEc:agi:wpaper:02000213

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