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Bequests, taxation and the distribution of wealth in a general equilibrium model

Bossmann, Martin and Kleiber, Christian and Wälde, Klaus. (2007) Bequests, taxation and the distribution of wealth in a general equilibrium model. Journal of public economics, Vol. 91. S. 1247-1271.

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Official URL: http://edoc.unibas.ch/dok/A5252904

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Abstract

This paper examines the role of bequests and of taxation on bequests for the distribution of wealth. We investigate a model with overlapping generations and heterogenous households where parents derive utility directly from their bequests. We obtain all results analytically. Using the coefficient of variation as the measure of inequality, bequests per se diminish the inequality of wealth since they raise private savings and hence average wealth holdings more than the variance of wealth. From a policy perspective, taxing bequests and redistributing government revenue lump-sum among the young generation further decreases wealth inequality.
Faculties and Departments:06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Ökonometrie und Statistik (Kleiber)
UniBasel Contributors:Kleiber, Christian
Item Type:Article, refereed
Bibsysno:Link to catalogue
Publisher:North Holland Publ.
ISSN:0047-2727
Note:Publication type according to Uni Basel Research Database: Journal article
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Last Modified:22 Mar 2012 14:28
Deposited On:22 Mar 2012 14:03

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