000			02621cam a22003617 4500
001			w29693
003			NBER
005			20220216111523.0
006			m o d
007			cr cnu||||||||
008			220210s2022 mau fo 000 0 eng d
100	1		_aBlack, Sandra E. _96359
245	1	4	_aThe (Un)Importance of Inheritance / _cSandra E. Black, Paul J. Devereux, Fanny Landaud, Kjell G. Salvanes.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2022.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w29693
500			_aJanuary 2022.
520	3		_aTransfers from parents--either in the form of gifts or inheritances--have received much attention as a source of inequality. This paper uses a 19-year panel of administrative data for the population of Norway to examine the share of the Total Inflows available to an individual (defined as the capitalized sum of net labor income, government transfers, and gifts and inheritances received over the period) accounted for by capitalized gifts and inheritances. Perhaps surprisingly, we find that gifts and inheritances represent a small share of Total Inflows; this is true across the distribution of Total Inflows, as well as at all levels of net wealth at a point in time. Gifts and inheritances are only an important source of income flows among those who have very wealthy parents. Additionally, gifts and inheritances have very little effect on the distribution of Total Inflows - when we do a counterfactual Total Inflows distribution with zero gifts and inheritances, it is not much different from the actual distribution. Our findings suggest that inheritance taxes may do little to mitigate the extreme wealth inequality in society.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aG51 - Household Saving, Borrowing, Debt, and Wealth _2Journal of Economic Literature class.
690		7	_aJ01 - Labor Economics: General _2Journal of Economic Literature class.
700	1		_aDevereux, Paul J. _99254
700	1		_aLandaud, Fanny.
700	1		_aSalvanes, Kjell G.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w29693.
856	4	0	_uhttps://www.nber.org/papers/w29693
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w29693
942			_2ddc _cW-PAPER
999			_c388972 _d347534