Taxation of Intergenerational Transfers and Wealth

Wojciech Kopczuk

No 18584, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In this chapter, I review empirical and theoretical literature on taxation of intergenerational transfers (estates, bequests, inheritances, inter vivos gifts) and wealth. The main message may be summarized as follows. Empirical evidence on bequest motivations and responses to estate taxation is spotty and much remains be done, but what we know points in the direction of (1) mixed motives (2) heterogeneity of preferences and (3) importance of retaining control over wealth. These patterns are important for normative analysis of taxation toward the top of the distribution. Theoretical work should further focus on understanding implications of inequality of inherited wealth: the topic that has been neglected in the past, even though it is closely related to -- more carefully studied, but arguably much less important in practice -- externalities from giving. Potential externalities from wealth accumulation and concentration are yet to be seriously addressed.

JEL-codes: D31 E21 H2 (search for similar items in EconPapers)
Date: 2012-11
New Economics Papers: this item is included in nep-hpe and nep-pub
Note: EFG PE POL
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (69)

Published as Handbook of Public Economics Volume 5, 2013, Pages 329–390 handbook of public economics, vol. 5 Cover image Chapter 6 – Taxation of Intergenerational Transfers and Wealth Wojciech Kopczuk

Downloads: (external link)
http://www.nber.org/papers/w18584.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:18584

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w18584

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().