Normative aspects of taxing capitalistic bequests
Bequest motives serve as an explanation why individuals do not decumulate assets completely during retirement, and some even continue saving while old. Nevertheless, common family-oriented bequest models still fail to account for the saving behavior of the very wealthy, among which a significant difference between those with children and those without cannot be observed.
KeywordsPermanent Income Initial Wealth Wealth Transfer Bequest Motive Saving Decision
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