Joint Committee on Taxation
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NBER Working Papers and Publications
|January 1992||Bequest Taxes and Accumulation of Household Wealth: U.S.-Japan Comparison|
with Takatoshi Ito
in The Political Economy of Tax Reform, NBER-EASE Volume 1, Takatoshi Ito and Anne O. Krueger, editors
|May 1991||Bequest Taxes and Accumulation of Household Wealth: U.S. - Japan Comparison|
with Takatoshi Ito: w3692
The objective of this paper is two-fold. First, we describe and compare the gift and bequest (estate) tax systems in the United States and Japan. Second, we use tax data to estimate the magnitude of intergenerational transfers. The magnitude of intergenerational transfers provides aid in determining how much outstanding wealth is obtained through intergenerational transfers, an issue of current controversy. In both Japan and the United States, a substantial portion of wealth, and especially of land in Japan, is bequeathed from one generation to the next.
Published: Takatoshi Ito and Anne O. Krueger, eds. The Political Economy of Tax Reform . Chicago: The University of Chicago Press, 1992.