Article for a general audience (Diverse speeches and writings)
The intergenerational transmission of wealth in rich countries
Nolan, Brian; Palomino, Juan; van Kerm, Philippe et al.
2020
 

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Keywords :
bequests; inheritance; wealth
Abstract :
[en] Whether and how much intergenerational transfers contribute to wealth inequality is still subject to debate. This column analyses household survey data on inheritance and gifts inter vivos in France, Germany, Great Britain, Ireland, Italy, Spain, and the US to relate current household wealth levels and inequality to the receipt of intergenerational wealth transfers. In these countries, large transfers increase overall wealth inequality. Strengthening taxation capacity and instating lifetime capital acquisitions tax for gifts and inheritances may help counter the dis-equalising effect of intergenerational transfers.
Disciplines :
Economic systems & public economics
Author, co-author :
Nolan, Brian;  University of Oxford
Palomino, Juan;  University of Oxford
van Kerm, Philippe  ;  University of Luxembourg > Faculty of Humanities, Education and Social Sciences (FHSE) > Department of Social Sciences (DSOC) ; Luxembourg Institute of Socio-Economic Research - LISER
Morelli, Salvatore;  City University of New York > Stone Center on Socio-Economic Inequality
Language :
English
Title :
The intergenerational transmission of wealth in rich countries
Publication date :
19 September 2020
Journal title :
VoxEU
Funders :
Nuffield Foundation [GB]
Available on ORBilu :
since 11 January 2021

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