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Journal of Economic Perspectives: Vol. 2 No. 2 (Spring 1988)

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The Role of Intergenerational Transfers and Life Cycle Saving in the Accumulation of Wealth

Article Citation

Modigliani, Franco. 1988. "The Role of Intergenerational Transfers and Life Cycle Saving in the Accumulation of Wealth." Journal of Economic Perspectives, 2(2): 15-40.

DOI: 10.1257/jep.2.2.15

Abstract

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.

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Authors

Modigliani, Franco (Unlisted)

JEL Classifications

023: Macroeconomics--Theory of Aggregate Demand: Consumption
224: National Wealth and Balance Sheets
023: Macroeconomics of Intertemporal Choice
024: Welfare Theory--Redistribution Analyses

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