Working Paper: NBER ID: w14639
Authors: Charles Yuji Horioka
Abstract: This paper finds that individuals in Japan do not leave very significant bequests, that parents often require a quid pro quo for bequests to their children, and that wealthier individuals leave less bequests, meaning that bequests ameliorate wealth inequalities.
Keywords: No keywords provided
JEL Codes: D12; D91; E21
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Individuals in Japan do not leave significant bequests (D14) | Bequests account for only about 15% of total household wealth (D14) |
| Wealthier individuals leave less in bequests (D14) | Correlation coefficient of 0.170 between bequests received and life cycle wealth (D15) |
| Wealthier individuals leave less in bequests (D14) | Bequests ameliorate wealth inequalities (D64) |
| Parents often require a quid pro quo for bequests (D14) | Majority of respondents do not plan to leave a bequest (D14) |