Inheritance Taxation: Redistribution and Predistribution
Frank Cowell (),
Chang He and
Dirk Van de gaer
STICERD - Public Economics Programme Discussion Papers from Suntory and Toyota International Centres for Economics and Related Disciplines, LSE
It is well known that taxes on the transfer of wealth typically raise very little revenue. However, this does not mean that they are ineffective as tools for redistribution. In this paper we show how important such taxes can be in the long-run distribution of wealth, reducing equilibrium inequality (the "predistribution" effect) by a much larger amount than what is apparent in terms of the immediate impact of the tax (the "redistribution" effect).
Keywords: wealth distribution; inheritance; inheritance taxation (search for similar items in EconPapers)
JEL-codes: D31 D63 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ltv, nep-pbe and nep-pub
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Persistent link: https://EconPapers.repec.org/RePEc:cep:stippp:35
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