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| Author: | Heer, B. |
| Title: | Wealth distribution and optimal inheritance taxation in life-cycle economies with intergenerational transfers |
| Journal: | Scandinavian Journal of Economics
2001 : VOL. 103:3, p. 445-465 |
| Index terms: | DISTRIBUTION OF WEALTH INHERITANCE INTERGENERATIONAL TRANSFERS LIFE CYCLES OVERLAPPING-GENERATIONS MODELS TAXATION |
| Freeterms: | BEQUESTS |
| Language: | eng |
| Abstract: | Intergenerational transfers are introduced into a general equilibrium life-cycle model in order to explain observed levels of wealth heterogeneity. In this overlapping generations model, heterogenous agents face uncertain lifetime and leave both accidental and voluntary bequests to their children. Furthermore, agents face stochastic employment opportunities. The model is calibrated with regard to the characteristics of the US economy. |
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