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Bequest motives: A comparison of Sweden and the United States
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.ORCID iD: 0000-0001-8826-0410
2001 (English)In: Journal of Public Economics, ISSN 0047-2727, E-ISSN 1879-2316, Vol. 79, no 1, 205-236 p.Article in journal (Refereed) Published
Abstract [en]

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.

Place, publisher, year, edition, pages
2001. Vol. 79, no 1, 205-236 p.
Keyword [en]
accidental model, altruistic model, egoistic model, exchange model
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URN: urn:nbn:se:uu:diva-68869DOI: 10.1016/S0047-2727(00)00101-8OAI: oai:DiVA.org:uu-68869DiVA: diva2:96780
Available from: 2005-03-13 Created: 2005-03-13 Last updated: 2013-07-09

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Publisher's full texthttp://econpapers.repec.org/article/eeepubeco/v_3A79_3Ay_3A2001_3Ai_3A1_3Ap_3A205-236.htm

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