Motives for Bequests within the Middle Class
dc.contributor.author | Laitner, John | |
dc.contributor.author | Sonnega, Amanda | |
dc.date.accessioned | 2013-01-15T17:02:25Z | |
dc.date.available | 2013-01-15T17:02:25Z | |
dc.date.issued | 2012-11 | |
dc.identifier.uri | https://hdl.handle.net/2027.42/95713 | |
dc.description | Working Paper: WP 2012-275 | en_US |
dc.description.abstract | The life-cycle model of household behavior forms the basis for most economic analysis of Social Security, private pensions, and retirement. This project seeks to extend the usefulness of the life-cycle model by considering the role of middle-class inheritances and bequests. We use HRS data. Prior work by the authors identifies key information in the HRS on the sources of private intergenerational transfers, and it shows that the frequency of couples’ inheritances from both spouses’ family lines is higher than random behavior would imply. Using additional HRS data on the ratio of parent-to-child lifetime incomes, we analyze the motives behind HRS bequests. We find support for an unintentional transfer model in which bequests arise from residual, unspent parent life-cycle resources. And, we show that our model can account for the frequency of dual inheritances that earlier work revealed. | en_US |
dc.description.sponsorship | Social Security Administration | en_US |
dc.language.iso | en_US | en_US |
dc.publisher | Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104 | en_US |
dc.relation.ispartofseries | WP 2012-275 | en_US |
dc.subject | Intergenerational Transfers; Bequest Motives; Inheritance | en_US |
dc.title | Motives for Bequests within the Middle Class | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Population and Demography | |
dc.subject.hlbtoplevel | Social Sciences | |
dc.contributor.affiliationum | Department of Economics | en_US |
dc.contributor.affiliationum | Institute for Social Research | en_US |
dc.contributor.affiliationumcampus | Ann Arbor | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/95713/1/wp275.pdf | |
dc.description.mapping | 22 | en_US |
dc.owningcollname | Retirement and Disability Research Center, Michigan (MRDRC) |
Files in this item
Remediation of Harmful Language
The University of Michigan Library aims to describe library materials in a way that respects the people and communities who create, use, and are represented in our collections. Report harmful or offensive language in catalog records, finding aids, or elsewhere in our collections anonymously through our metadata feedback form. More information at Remediation of Harmful Language.
Accessibility
If you are unable to use this file in its current format, please select the Contact Us link and we can modify it to make it more accessible to you.