Inheritance Taxation: Redistribution and Predistribution

Inheritance Taxation: Redistribution and Predistribution. Cowell, F. A., Van de gaer, D., & He, C. In Bishop, J. A & Rodríguez, Juan Gabriel, editors, Inequality, Taxation and Intergenerational Transmission, volume 26, of Research on Economic Inequality, 1, pages 1–13. Emerald Publishing Limited, 2018.

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It is well known that taxes on the transfer of wealth typically raise very little revenue. However, this does not mean that they are ineffective as tools for redistribution. In this chapter, we show how important such taxes can be in the long-run distribution of wealth, reducing equilibrium inequality (the ``predistribution'' effect) by a much larger amount than what is apparent in terms of the immediate impact of the tax (the ``redistribution'' effect).

@incollection{Cowelletal2018a,
  title = {Inheritance Taxation: Redistribution and Predistribution},
  booktitle = {Inequality, Taxation and Intergenerational Transmission},
  author = {Cowell, Frank A. and {Van de gaer}, Dirk and He, Chang},
  editor = {Bishop, John A and Rodr{\'i}guez, Juan Gabriel},
  year = {2018},
  series = {Research on Economic Inequality},
  volume = {26},
  pages = {1--13},
  publisher = {{Emerald Publishing Limited}},
  doi = {10.1108/S1049-258520180000026002},
  url = {https://doi.org/10.1108/S1049-258520180000026002},
  abstract = {It is well known that taxes on the transfer of wealth typically raise very little revenue. However, this does not mean that they are ineffective as tools for redistribution. In this chapter, we show how important such taxes can be in the long-run distribution of wealth, reducing equilibrium inequality (the ``predistribution'' effect) by a much larger amount than what is apparent in terms of the immediate impact of the tax (the ``redistribution'' effect).},
  chapter = {1},
  isbn = {978-1-78756-458-9 978-1-78756-457-2},
  keywords = {{Estate, Inheritance, and Gift Taxes}}
}

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