@unpublished{Alvaredoetal2015,
  title = {On the Share of Inheritance in Aggregate Wealth: {{Europe}} and the {{USA}}, 1900-2010},
  author = {Alvaredo, Facundo and Garbinti, Bertrand and Piketty, Thomas},
  year = {2015},
  doi = {10.1111/ecca.12233},
  url = {https://www.inet.ox.ac.uk/publications/no-2015-07-on-the-share-of-inheritance-in-aggregate-wealth-europe-and-the-united-states-1900-2010/},
  abstract = {This paper provides historical series on the evolution of the share of inherited wealth in aggregate private wealth in Europe (France, the UK, Germany, Sweden) and the USA over the 1900\textendash 2010 period. Until 1910, the inheritance share was very high in Europe (70\textendash 80\%). It then fell abruptly following the 1914\textendash 45 shocks, down to about 30\textendash 40\% during the 1950\textendash 80 period, and is back to 50\textendash 60\% (and rising) since around 2010. The US pattern also appears to be U-shaped, albeit less marked, and with significant uncertainty regarding recent trends, due to data limitations. We discuss possible interpretations for these long-run patterns.},
  keywords = {Cross-National Comparisons,Intergenerational Wealth},
  note = {Unpublished manuscript}
}

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