Abstract:
Wealth inequality can limit people’s ability to accumulate human capital, carry out business projects, or cope with major economic crises. Focusing on France, Spain, the UK, and the US, this column shows that intergenerational transfers, such as inheritances and inter vivos gifts, play a significant role in underpinning wealth inequality. When inheritances and gifts exceed a certain threshold, the opportunities to accumulate more wealth are greatly expanded.
Citation:
Rodríguez, J.G., Nolan, B., Palomino, J.C. & Marrero, G.A. (2022), 'Intergenerational transfers and wealth inequality', VoxEU, https://cepr.org/voxeu/columns/intergenerational-transfers-and-wealth-inequality