May 27, 2014

CAAR – National Bureau of Economic Research Working Paper – May 27, 2014

Filed under: Reports and Articles — Tags: , — admin @ 1:00 pm

“Are Americans and Indians More Altruistic than the Japanese and Chinese? Evidence from a New International Survey of Bequest Plans,” by Charles Yuji Horioka (w20158, May 2014, .pdf format, 39p.).


This paper discusses three alternative assumptions concerning household preferences (altruism, self- interest, and a desire for dynasty building) and shows that these assumptions have very different implications for bequest motives and bequest division. After reviewing some of the literature on actual bequests, bequest motives, and bequest division, the paper presents data on the strength of bequest motives, stated bequest motives, and bequest division plans from a new international survey conducted in China, India, Japan, and the United States. It finds striking inter-country differences in bequest plans, with the bequest plans of Americans and Indians appearing to be much more consistent with altruistic preferences than those of the Japanese and Chinese and the bequest plans of the Japanese and Chinese appearing to be much more consistent with selfish preferences than those of Americans and Indians. These findings have important implications for the efficacy and desirability of stimulative fiscal policies, public pensions, and inheritance taxes.

December 6, 2012

CAAR-National Bureau of Economic Research Working Paper–December 6, 2012

Filed under: Working Papers — Tags: , — admin @ 9:01 am

“Taxation of Intergenerational Transfers and Wealth,” by Wojciech Kopczuk (w18584, December 2012, .pdf format, 72p.).


In this chapter, I review empirical and theoretical literature on taxation of intergenerational transfers (estates, bequests, inheritances, inter vivos gifts) and wealth. The main message may be summarized as follows. Empirical evidence on bequest motivations and responses to estate taxation is spotty and much remains be done, but what we know points in the direction of (1) mixed motives (2) heterogeneity of preferences and (3) importance of retaining control over wealth. These patterns are important for normative analysis of taxation toward the top of the distribution. Theoretical work should further focus on understanding implications of inequality of inherited wealth: the topic that has been neglected in the past, even though it is closely related to–more carefully studied, but arguably much less important in practice–externalities from giving. Potential externalities from wealth accumulation and concentration are yet to be seriously addressed.

November 19, 2012

CAAR – Urban Institute Report, Article — November 19, 2012

Filed under: Reports and Articles — Tags: , — admin @ 2:41 pm

A. “Back from the Dead: State Estate Taxes After the Fiscal Cliff,” by Norton Francis (November 2012, .pdf format, 26p.).

B. “An Extremely Mucked Up Medicare Debate,” by C. Eugene Steuerle (Government we Deserve. October 2012, HTML and .pdf format, 2p.).

Powered by WordPress