Abstract
[ I ] Following the work by Barro (1974), which claimed that operative gift- or bequest- motive within each family line neutralizes the intergenerational redistributional effects of social security or government debt, various authors analyzed the household’s gift-bequest behavior in order to examine the validity of Barro’s reasoning [e. g., Carmichael (1982) and Burbidge (1983)], the conditions for operative gift- or bequest-motive [Weil (1987) and Abel (1987)], the optimality property of bequest equilibria [Bernheim ([1989)], and the causes and effects of social security [Laitner (1988) and Hansson and Stuart (1989)].
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Hori, H. (1996). Intergenerational Altruism and Income Transfers: Indeterminacy of Equilibria and Its Resolution. In: Sato, R., Ramachandran, R., Hori, H. (eds) Organization, Performance and Equity. Research Monographs in Japan-U.S. Business & Economics, vol 1. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-6267-2_5
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