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Optimal Taxation of Inheritance and Retirement Savings

Yena Park
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Yena Park: University of Rochester

No 1246, 2018 Meeting Papers from Society for Economic Dynamics

Abstract: We study how to jointly design the optimal tax system on the inherited wealth and the retirement savings in an economy where the motives for the retirement savings and the bequests are overlapping. If the retirement savings can serve for both a precautionary saving against the uncertain life cycle and a bequest to the children, the optimal tax system should consider the interaction of the two functions. When the parents are heterogeneous in their earning ability, mortality, and altruism, the correlation of these characteristics and the planner's preferences for redistribution are the key determinant of the sign and shape of the tax system.

New Economics Papers: this item is included in nep-age, nep-dge and nep-pbe
Date: 2018
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