Inheritance and Saving

David Joulfaian ()

No 12569, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper explores the effects of inheritances on the saving of recipients. Information on inheritances and heirs is obtained from estate tax records of decedents which are linked to the income tax records of beneficiaries. The observed pattern of wealth mobility within two years of the receipt of inheritances and multivariate analyses show that wealth increases by less than the full amount of the inheritance received. Similarly, and consistent with previous findings, large inheritances are found to depress labor force participation.

JEL-codes: E21 H31 J26 (search for similar items in EconPapers)
Date: 2006-10
New Economics Papers: this item is included in nep-mac and nep-pbe
Note: PE EFG
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Citations: View citations in EconPapers (27)

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