Bequest motives: a comparison of Sweden and the United States

• 成果类型: Article; Proceedings Paper
• 署名作者: Laitner, J; Ohlsson, H
• 署名单位: University of Gothenburg; University of Michigan System; University of Michigan
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/S0047-2727(00)00101-8
• 发表日期: 2001
• 页码: 205-236
• 关键词: accidental model; altruistic model; egoistic model; exchange model

摘要

This paper reviews four well-known theoretical models of private bequest behavior, notes their differing implications for public policy, and discusses a way of empirically discriminating among them. Then it implements the test with micro data from Sweden (LLS) and the U.S. (PSID). The so-called altruistic (or dynastic) model, which, among the four models, has perhaps the most wide-ranging implications for policy, receives some support. The sign pattern is as the model predicts, while the magnitude is much smaller than the altruistic theory implies. There is evidence of a potential complication due to a dependence of children's education on parents' financial status in the case of the U.S. (C) 2001 Elsevier Science B.V. All rights reserved.