@techreport{FarhiWerning2006,
  type = {Working {{Paper}}},
  title = {Progressive Estate Taxation},
  author = {Farhi, Emmanuel and Werning, Ivan},
  year = {2006},
  month = oct,
  number = {06-27},
  institution = {{MIT Department of Economics}},
  url = {https://ssrn.com/abstract=932764},
  urldate = {2023-02-17},
  abstract = {For an economy with altruistic parents facing productivity shocks, the optimal estate taxation is progressive: fortunate parents should face lower net returns on their inheritances. This progressivity reflects optimal mean reversion in consumption, which ensures that a long-run steady state exists with bounded inequality\textendash avoiding immiseration.},
  keywords = {{Estate, Inheritance, and Gift Taxes},Intergenerational Wealth}
}

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