On the Distribution of Wealth and Intergenerational Transfers

1987 ◽  
Vol 5 (3) ◽  
pp. 366-385 ◽  
Author(s):  
Yannis M. Ioannides ◽  
Ryuzo Sato
Keyword(s):  
Intergenerational Transfers ◽  
Distribution Of Wealth

Intergenerational Transfers, Taxes and the Distribution of Wealth. Editors' Preface

2001 ◽  
Vol 103 (3) ◽  
pp. 367-367
Author(s):  
Bertil Holmlund ◽  
Henry Ohlsson ◽  
Erling Steigum
Keyword(s):  
Intergenerational Transfers ◽  
Distribution Of Wealth

scholarly journals SAVINGS, INTERGENERATIONAL TRANSFERS, AND THE DISTRIBUTION OF WEALTH

2006 ◽  
Vol 10 (3) ◽  
pp. 371-414
Author(s):  
IGNACIO PONCE OCAMPO ◽  
KAZUHIRO YUKI
Keyword(s):  
Capital Accumulation ◽  
Overlapping Generations ◽  
Intergenerational Transfers ◽  
Overlapping Generations Model ◽  
Distribution Of Wealth ◽  
Annuity Markets ◽  
Earnings Uncertainty ◽  
The U.S ◽  
Quantitative Importance

This paper investigates the quantitative importance of different savings motives on the distributions of wealth and consumption and aggregate capital accumulation by solving an overlapping generations model with intragenerational heterogeneity. Agents differ in age, ability, earnings shocks, and inherited bequests. In the baseline economy, there are uninsurable idiosyncratic risks associated with uncertain lifetime and earnings shocks. The model is calibrated to the U.S. economy and solved numerically. Then the allocations of the baseline economy are compared with those of an economy with complete annuity markets, one without earnings uncertainty, and one without altruism.

scholarly journals Intergenerational Transfers and Savings

1988 ◽  
Vol 2 (2) ◽  
pp. 41-58 ◽  
Author(s):  
Laurence J Kotlikoff
Keyword(s):  
Life Cycle ◽  
Dominant Role ◽  
Intergenerational Transfers ◽  
Policy Implications ◽  
Precautionary Savings ◽  
Wealth Accumulation ◽  
Life Cycle Model ◽  
Cycle Model ◽  
Distribution Of Wealth ◽  
Annuity Markets

What is the main explanation for savings? Is it primarily accumulation for retirement as claimed by Albert Ando, Richard Brumberg, and Franco Modigliani in their celebrated Life Cycle Model of Savings? Is it primarily intentional accumulation for intergenerational transfers? Or is it primarily precautionary savings, much of which may be bequeathed because of imperfections in annuity markets? The answer to the savings puzzle has many policy implications and is key to understanding the distribution of wealth. A major piece of the puzzle is the quantitative importance of intergenerational transfers to the accumulation of wealth. As I will argue there is strong evidence that intergenerational transfers play a very important and perhaps dominant role in U.S. wealth accumulation. This does not mean, however, that intentional saving for gifts and bequests is the main motive for savings. Significant intergenerational transfers could also arise in the Life Cycle Model in the absence of well-functioning private annuity markets or close substitutes for such markets. In such a setting, bequests would be involuntary and potentially quite sizeable. Let us first look at the evidence on the importance of intergenerational transfers and then turn to the deeper question of why such transfers arise.

scholarly journals Optimal intergenerational transfers: Public education and pensions

2021 ◽  
Vol 198 ◽  
pp. 104411
Author(s):  
Monisankar Bishnu ◽  
Shresth Garg ◽  
Tishara Garg ◽  
Tridip Ray
Keyword(s):  
Public Education ◽  
Intergenerational Transfers

scholarly journals Population aging and the historical development of intergenerational transfer systems

Genus ◽  
2020 ◽  
Vol 76 (1) ◽  
Author(s):  
Ronald Lee
Keyword(s):  
Older People ◽  
Population Aging ◽  
Intergenerational Transfers ◽  
The Elderly ◽  
Intergenerational Transfer ◽  
Agricultural Revolution ◽  
Public Transfers ◽  
Working Age ◽  
Social Sharing ◽  
Private Transfers

Abstract From our evolutionary past, humans inherited a long period of child dependency, extensive intergenerational transfers to children, cooperative breeding, and social sharing of food. Older people continued to transfer a surplus to the young. After the agricultural revolution, population densities grew making land and residences valuable assets controlled by older people, leading to their reduced labor supply which made them net consumers. In some East Asian societies today, elders are supported by adult children but in most societies the elderly continue to make private net transfers to their children out of asset income or public pensions. Growing public intergenerational transfers have crowded out private transfers. In some high-income countries, the direction of intergenerational flows has reversed from downward to upwards, from young to old. Nonetheless, net private transfers remain strongly downward, from older to younger, everywhere in the world. For many but not all countries, projected population aging will bring fiscal instability unless there are major program reforms. However, in many countries population aging will reduce the net cost to adults of private transfers to children, partially offsetting the increased net costs to working age adults for public transfers to the elderly.

scholarly journals The distribution of wealth in Spain and the USA: the role of socioeconomic factors

SERIEs ◽  
2021 ◽  
Author(s):  
Pedro Salas-Rojo ◽  
Juan Gabriel Rodríguez
Keyword(s):  
Socioeconomic Factors ◽  
Parental Education ◽  
Wealth Inequality ◽  
Latent Factors ◽  
Distribution Of Wealth ◽  
The Usa ◽  
Value Decomposition ◽  
Counterfactual Decomposition ◽  
Distribution Of Income

AbstractThe literature has typically found that the distribution of socioeconomic factors like education, labor status and income does not account for the remarkable wealth inequality disparities between countries. As a result, their different institutions and other latent factors receive all the credit. Here, we propose to focus on one type of wealth inequality, the inequality of opportunities (IOp) in wealth: the share of overall wealth inequality explained by circumstances like inheritances and parental education. By means of a counterfactual decomposition method, we find that imposing the distribution of socioeconomic factors of the USA into Spain has little effect on total, financial and real estate wealth inequality. On the contrary, these factors play an important role when wealth IOp is considered. A Shapley value decomposition shows that the distribution of education and labor status in the USA consistently increase wealth IOp when imposed into Spain, whereas the opposite effect is found for the distribution of income.

‘Inequality is not a Problem’: How (Some) Economists Responded to Thomas Piketty

2019 ◽  
Vol 41 (2) ◽  
pp. 359-374
Author(s):  
J. E. King
Keyword(s):  
Moral Philosophy ◽  
Social Costs ◽  
First Century ◽  
Distribution Of Wealth ◽  
Twenty First Century ◽  
Thomas Piketty

Abstract Thomas Piketty’s Capital in the Twenty-First Century makes hardly any reference to the ethics of inequality. Surprisingly, this is an omission shared by most of his critics. In this paper I investigate the literature on which he and his reviewers might have drawn and speculate on the reasons why they did not. I outline the four ‘views of society’ and the related issues in moral philosophy that were presented by Michael Schneider in his book on the distribution of wealth. I then summarise the criticisms of Piketty made by those few reviewers who did show some interest in ethical questions and examine the slightly earlier and quite different case against reducing inequality made by one of these critics, N. Gregory Mankiw. I consider the economic, political and social costs of inequality identified in a book-length study of Piketty’s work by Steven Pressman, and conclude by reflecting on the reasons for the widespread neglect of moral philosophy by mainstream economists.

scholarly journals Corporate Social Responsibility and Sustainability. A Bibliometric Analysis of Their Interrelations

2021 ◽  
Vol 13 (4) ◽  
pp. 1636 ◽  
Author(s):  
Víctor Meseguer-Sánchez ◽  
Francisco Jesús Gálvez-Sánchez ◽  
Gabriel López-Martínez ◽  
Valentín Molina-Moreno
Keyword(s):  
Sustainable Development ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Global Economy ◽  
The United States ◽  
Social Dimension ◽  
Unequal Distribution ◽  
Distribution Of Wealth ◽  
Productive Author ◽  
Corporate Social

Traditional economic system has brought important negative implications regarding environmental development, as well as an unequal distribution of wealth, which has led to ecological disasters and population imbalances. Considering the existence of unequal opportunities and access to resources in a global economy, it would be relevant to study the interrelations between the concepts of Sustainability and Corporate Social Responsibility (CSR). Global and multifactorial issues require the review of fieldworks and their connections. From this perspective, the present research aims to analyze the relationships between the concepts of Corporate Social Responsibility and Sustainability in order to understand the advances of current scientific production and future lines of research. In this way, there is a considerable increase of interest in this line of research, highlighting García-Sánchez as the most productive author, Business, Management and Accounting as the most studied topic, and Sustainability Switzerland as the most productive journal. The country with the most publications and citations is the United States, and the most productive institution is Universidad de Salamanca. Future lines of research should focus on the social dimension and its possibilities in the field of Circular Economy. Finally, a line of research is proposed that also includes the proposals from the 2030 Agenda for Sustainable Development and its 17 Sustainable Development Goals.

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