NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Paul Menchik

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers onlyInformation about this author at RePEc

Working Papers and Chapters

1989Using Panel Data to Assess the Bias in Cross-sectional Inferences of Life-Cycle Changes in the Level and Composition of Household Wealth
with Nancy Jianakoplos, Owen Irvine
in The Measurement of Saving, Investment, and Wealth, Robert E. Lipsey and Helen Stone Tice, editors
November 1984Planned and Unplanned Bequests
with Daniel S. Hamermesh: w1496
We make the distinction between bequests that are planned as part of some lifetime optimization stemming from a bequest motive, and those that are unplanned and result when the date of death differs from what the consumer might forecast. Lifetime optimization should lead to a negative effect or no effect of the expected horizon on the size of the bequest, and to a negative relation between unexpectedly long life and the bequest. Using data on wealthy decedents and their parents, we form measures of the expected horizon based on parents' longevity. There is no relation between unexpectedly early or late death and the bequest, but a significant positive relation between the bequest and the length of the horizon. Several explanations for this unforeseen result are offered, including the infe...

Published: Hamermesh, Daniel S. and Paul L. Menchik. "Planned and Unplanned Bequests," Economic Inquiry, Vol. 25, No. 1, January 1987, pp. 55-66. citation courtesy of

1980The Importance of Material Inheritance: The Financial Link between Generations
in Modeling the Distribution and Intergenerational Transmission of Wealth, James D. Smith, ed.

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers onlyInformation about this author at RePEc

 
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