Bequests, Estate Taxes, and Wealth Distributions

Bequests, Estate Taxes, and Wealth Distributions. Wan, J. & Zhu, S. Economic Theory, 67(1):179–210, Springer Berlin Heidelberg, 2019.

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Bossmann et al. (J Public Econ 91:1247– 1271, 2007) found that estate taxes reduce the long-run wealth inequality. This result contrasts with the findings of the previous literature with idiosyncratic labor efficiency risk. We use a decomposition technique, developed by Davies (J Labor Econ 4:538– 559, 1986), to reinvestigate the impact of estate taxes on the long-run wealth inequality. We find that the different results of estate taxes are due to the different redistribution effects.

@article{WanZhu2019,
  title = {Bequests, Estate Taxes, and Wealth Distributions},
  author = {Wan, Jing and Zhu, Shenghao},
  year = {2019},
  journal = {Economic Theory},
  volume = {67},
  number = {1},
  pages = {179--210},
  publisher = {{Springer Berlin Heidelberg}},
  doi = {10.1007/s00199-017-1091-7},
  url = {http://link.springer.com/10.1007/s00199-017-1091-7},
  abstract = {Bossmann et al. (J Public Econ 91:1247\textendash 1271, 2007) found that estate taxes reduce the long-run wealth inequality. This result contrasts with the findings of the previous literature with idiosyncratic labor efficiency risk. We use a decomposition technique, developed by Davies (J Labor Econ 4:538\textendash 559, 1986), to reinvestigate the impact of estate taxes on the long-run wealth inequality. We find that the different results of estate taxes are due to the different redistribution effects.},
  keywords = {Determinants of Wealth and Wealth Inequality,{Estate, Inheritance, and Gift Taxes}}
}

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