Inherited Advantage
Comparing Households that Receive Gifts and Bequests with Non-receiving Households across the Distribution of Household Wealth in 11 European Countries
Bibliographic Data
| ID | 7772044 |
|---|---|
| Authors | Philipp Korom (0000-0002-7517-1993, Max Planck Institute for the Study of Societies, corresponding author) |
| Year | 2018 |
| Volume | 34 |
| Issue | 1 |
| Pages | 79-91 |
| Publication date | 2018-02-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | European Sociological Review (JOURNAL) |
| Journal identifiers | ISSN: 0266-7215 • E-ISSN: 1468-2672 |
| Publisher | Oxford University Press (PUBLISHER • GB) |
| DOI | 10.1093/esr/jcx084 |
| OpenAlex | W2781173318 |
| Language | EN |
| Citations received | 7 |
| References cited | 32 |
This study examines the importance of gifts and bequests (‘wealth transfers’) across the distribution of household wealth. Unconditional quantile regression applied to harmonized survey data obtained from 11 European countries reveals that households that receive gifts and bequests own considerably more wealth than non-receiving households, all other things being equal. The wealth gap varies hugely along the distribution of net wealth. At the median, the wealth gap reaches about 119,000 euros and increases to 630,000 euros at the 90th percentile. With regard to the 99th percentile, survey data even indicate differences in wealth levels greater than 2.3 million euros. Further analysis finds evidence that the impact of wealth transfers on household wealth follows an inverted U-shaped pattern: gifts and bequests contribute the most to the stock of private wealth in the broad mid-section and less so at the lower and upper ends of the distribution. Overall, the study provides evidence for a strong nexus between inheritance and household wealth that is not limited to the top.
Demographic economics · Distribution (mathematics) · Distribution of wealth · Econometrics · Economics · Euros · Geography · Household income · Inequality · Inheritance (genetic algorithm) · Labour economics · National wealth · Nexus (standard) · Percentile · Quantile regression · Stock (firearms) · Wealth distribution · Wealth elasticity of demand · Economic theories and models · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics
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| Unique citing works | 7 |
|---|---|
| Citations per year | 1 |
| Citation span | 2019 - 2025 (7) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 7 |