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Bequest Motives: A Comparison of Sweden and the United States

John Laitner () and Henry Ohlsson ()

No 1998:16, Working Paper Series from Uppsala University, Department of Economics

Abstract: This paper reviews four well--known theoretical models of private bequest behavior, notes their differing implications for public policy, and discusses a way of empirically discriminating among them. Then it implements the test with micro data from Sweden (LLS) and the U.S. (PSID). The so-called altruistic (or dynastic) model, which, among the four models, has perhaps the most wide-ranging implications for policy, receives some, though limited, support in the LLS, but not the PSID. The inter-country difference is statistically significant. There is evidence of a potential complication due to a dependence of children's education on parents financial status in the case of the U.S.

Keywords: accidental model; altruistic model; egoistic model; exchange model (search for similar items in EconPapers)
JEL-codes: D64 D91 (search for similar items in EconPapers)
Pages: 32 pages
Date: 1998-07-15
New Economics Papers: this item is included in nep-mic and nep-pbe
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Published in Journal of Public Economics, 2001, pages 205-236.

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http://www.elsevier.nl/cas/tree/store/pubec/sub/2001/79/1/1973.pdf (application/pdf)

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Journal Article: Bequest motives: a comparison of Sweden and the United States (2001) Downloads
Working Paper: Bequest Motives: a Comparison of Sweden and the United States (1998)
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