Home > Research > Publications & Outputs > Bequests, inter vivos transfers, and wealth dis...

Research

Links

Text available via DOI:

Keywords

View graph of relations

Bequests, inter vivos transfers, and wealth distribution

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Published

Standard

Bequests, inter vivos transfers, and wealth distribution. / Nishiyama, Shinichi.
In: Review of Economic Dynamics, Vol. 5, No. 4, 10.2002, p. 892-931.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Nishiyama, S 2002, 'Bequests, inter vivos transfers, and wealth distribution', Review of Economic Dynamics, vol. 5, no. 4, pp. 892-931. https://doi.org/10.1006/redy.2002.0185

APA

Nishiyama, S. (2002). Bequests, inter vivos transfers, and wealth distribution. Review of Economic Dynamics, 5(4), 892-931. https://doi.org/10.1006/redy.2002.0185

Vancouver

Nishiyama S. Bequests, inter vivos transfers, and wealth distribution. Review of Economic Dynamics. 2002 Oct;5(4):892-931. doi: 10.1006/redy.2002.0185

Author

Nishiyama, Shinichi. / Bequests, inter vivos transfers, and wealth distribution. In: Review of Economic Dynamics. 2002 ; Vol. 5, No. 4. pp. 892-931.

Bibtex

@article{8871dfe1c8ee4819ba42164ccab35ae8,
title = "Bequests, inter vivos transfers, and wealth distribution",
abstract = "This paper constructs a heterogeneous agent overlapping generations model with bequests and inter vivos transfers. In the model, households in the same family line behave strategically to determine their consumption, working hours, gifts, and savings. Calibrating the model to the U.S. economy, the paper measures time preference and parental altruism consistent with the economy{\textquoteright}s capital-output ratio and the size of intergenerational transfers. The model with intergenerational transfers better explains, although not fully, the wealth distribution of the United States. The paper also analyzes the effects of government policy changes on wealth accumulation, distribution, and social welfare.",
keywords = "intergenerational altruism, overlapping generations, Markov perfect equilibrium",
author = "Shinichi Nishiyama",
year = "2002",
month = oct,
doi = "10.1006/redy.2002.0185",
language = "English",
volume = "5",
pages = "892--931",
journal = "Review of Economic Dynamics",
issn = "1094-2025",
publisher = "Academic Press Inc.",
number = "4",

}

RIS

TY - JOUR

T1 - Bequests, inter vivos transfers, and wealth distribution

AU - Nishiyama, Shinichi

PY - 2002/10

Y1 - 2002/10

N2 - This paper constructs a heterogeneous agent overlapping generations model with bequests and inter vivos transfers. In the model, households in the same family line behave strategically to determine their consumption, working hours, gifts, and savings. Calibrating the model to the U.S. economy, the paper measures time preference and parental altruism consistent with the economy’s capital-output ratio and the size of intergenerational transfers. The model with intergenerational transfers better explains, although not fully, the wealth distribution of the United States. The paper also analyzes the effects of government policy changes on wealth accumulation, distribution, and social welfare.

AB - This paper constructs a heterogeneous agent overlapping generations model with bequests and inter vivos transfers. In the model, households in the same family line behave strategically to determine their consumption, working hours, gifts, and savings. Calibrating the model to the U.S. economy, the paper measures time preference and parental altruism consistent with the economy’s capital-output ratio and the size of intergenerational transfers. The model with intergenerational transfers better explains, although not fully, the wealth distribution of the United States. The paper also analyzes the effects of government policy changes on wealth accumulation, distribution, and social welfare.

KW - intergenerational altruism

KW - overlapping generations

KW - Markov perfect equilibrium

U2 - 10.1006/redy.2002.0185

DO - 10.1006/redy.2002.0185

M3 - Journal article

VL - 5

SP - 892

EP - 931

JO - Review of Economic Dynamics

JF - Review of Economic Dynamics

SN - 1094-2025

IS - 4

ER -