TY  - JOUR
AU  - Joulfaian,David
TI  - Inheritance and Saving
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 12569
PY  - 2006
Y2  - October 2006
UR  - http://www.nber.org/papers/w12569
L1  - http://www.nber.org/papers/w12569.pdf
N1  - Author contact info:
David Joulfaian
Department of the Treasury
1500 Pennsylvania Avenue, NW
Washington, DC  20220
Tel: 202-622-0234
Fax: 202-622-2265
E-Mail: david.joulfaian@treasury.gov
M3  - presented at "SI 2006 Economics of Taxation", July 27, 2006
AB  - This paper explores the effects of inheritances on the saving of recipients.  Information on inheritances and heirs is obtained from estate tax records of decedents which are linked to the income tax records of beneficiaries. The observed pattern of wealth mobility within two years of the receipt of inheritances and multivariate analyses show that wealth increases by less than the full amount of the inheritance received. Similarly, and consistent with previous findings, large inheritances are found to depress labor force participation.
ER  -