NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Expected Bequests and Their Distribution

Michael Hurd, James P. Smith

NBER Working Paper No. 9142
Issued in September 2002
NBER Program(s):   AG

Based on a sample of actual bequests that is population-representative and on the subjective probability of bequests, we estimate the distribution of bequests that the older population will make. We find that the distribution is highly skewed, so that the typical baby-boom person will receive a very modest inheritance. This is partly due to the skewed distribution of wealth and partly due to the tendency of the wealthy to have fewer children. But it is also due to anticipated dissaving: we estimate that households in the age band 70-74 will bequeath just 39% of their wealth, consuming the rest before they die.

download in pdf format
   (259 K)

email paper

The NBER Bulletin on Aging and Health provides summaries of publications like this.  You can sign up to receive the NBER Bulletin on Aging and Health by email.

This paper is available as PDF (259 K) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w9142

Users who downloaded this paper also downloaded these:
Hurd and Smith Anticipated and Actual Bequests
Hurd and Smith w7380 Anticipated and Actual Bequests
Gan, Gong, Hurd, and McFadden w10789 Subjective Mortality Risk and Bequests
Joulfaian w12569 Inheritance and Saving
Horioka w14639 Do Bequests Increase or Decrease Wealth Inequalities?
 
Publications
Activities
Meetings
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us