Open AccessThe Role of Intergenerational Transfers and Life Cycle Saving in the Accumulation of Wealth
Author(s) -
Franco Modigliani
Publication year - 1988
Publication title -
the journal of economic perspectives/the journal of economic perspectives
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 9.614
H-Index - 196
eISSN - 1944-7965
pISSN - 0895-3309
DOI - 10.1257/jep.2.2.15
Subject(s) - bequest , economics , overlapping generations model , neoclassical economics , labour economics , political science , law
The purpose of this paper is to review what economists know at present about the following question: How large a portion of the existing wealth is the result of a bequest motive, that is, of accumulation for the specific purpose of leaving bequests? But first I will clarify why an answer to this question is of interest.