Taxes on Wealth

This category contains research focused on estate, inheritance, and gift taxes: the taxation of transfers of wealth between people, whether during life or at death. It includes work on tax design, implementation strategies, and behavioral responses. It is distinct from the Wealth Taxation category, which covers taxes levied directly on net wealth rather than taxes on inter vivos gifts, estates, or inheritances.

Cross-National Comparisons

Determinants of Wealth and Wealth Inequality

Taxes on Wealth

Impacts of Wealth Inequality

Intergenerational Wealth

Methods of Estimation of Wealth Inequality

Trends in Aggregate Wealth and Wealth Inequality

Wealth Taxation

2023 (1)

Revenue, Redistribution, and the Rise and Fall of Inheritance Taxation. Genschel, Philipp; Limberg, Julian; and Seelkopf, Laura. Comparative Political Studies. August 2023.

link file doi

@article{Genscheletal2023,
  title = {Revenue, Redistribution, and the Rise and Fall of Inheritance Taxation},
  author = {Genschel, Philipp and Limberg, Julian and Seelkopf, Laura},
  year = {2023},
  month = {aug},
  journal = {Comparative Political Studies},
  doi = {10.1177/00104140231194065},
  url = {https://doi.org/10.1177/00104140231194065},
  abstract = {Why do countries repeal the inheritance tax? To investigate this question, we use a novel dataset on inheritance tax introductions and repeals worldwide. We argue that revenue requirements are the main determinant of repeal risks: The inheritance tax is resilient as long as it is central to the national revenue system; it becomes vulnerable to attacks once the rise of more efficient tax instruments marginalizes its revenue contribution. Devoid of fiscal purpose, its survival depends mainly on its redistributive features. Redistribution, however, is essentially contested and should be more important in democracies. The evidence is in line with our conjecture: The likelihood of inheritance tax repeal increases as other more buoyant taxes rise and non-democracies are more likely to repeal the tax than democracies.},
  keywords = {Data Sources: Taxes on Wealth,Cross-National Comparisons,Estate Inheritance and Gift Taxes},
  url_file = {Genscheletal2023.pdf}
}

2021 (9)

Behavioral Responses to Inheritance and Gift Taxation: Evidence from Germany. Glogowsky, Ulrich. Journal of Public Economics, 193. 2021.

link doi

@article{Glogowsky2021,
  title = {Behavioral Responses to Inheritance and Gift Taxation: Evidence from {{Germany}}},
  author = {Glogowsky, Ulrich},
  year = {2021},
  journal = {Journal of Public Economics},
  volume = {193},
  doi = {10.1016/j.jpubeco.2020.104309},
  url = {https://doi.org/10.1016/j.jpubeco.2020.104309},
  abstract = {The desirability of inheritance and gift taxes depends on individuals' tax responsiveness. This paper demonstrates how strongly, and in what way, the German inheritance and gift tax influences taxpayer behavior. To that end, it combines administrative data with cross-bracket tax variation: a convex kink in the tax liability precedes a concave kink. Extending the bunching approach to such double-kinked tax schedules, I document that individuals tailor their taxable wealth transfers to the schedules. One type of response dominates for inheritances: testators engage in testament planning. The magnitude of the testament-planning response is comparable to that of inter vivos gifts. However, neither the overall responses of gifts nor those of inheritances heavily interfere with tax revenue collection: the associated short-run net-of-tax elasticities of taxable wealth transfers lie below 0.1.},
  keywords = {Estate Inheritance and Gift Taxes},
  note = {104309}
}

Inheritance Tax Regimes: A Comparison. Jestl, Stefan. Public Sector Economics, 45(3): 363–385. September 2021.

link doi

@article{Jestl2021,
  title = {Inheritance Tax Regimes: A Comparison},
  author = {Jestl, Stefan},
  year = {2021},
  month = {sep},
  journal = {Public Sector Economics},
  volume = {45},
  number = {3},
  pages = {363--385},
  doi = {10.3326/pse.45.3.3},
  url = {https://doi.org/10.3326/pse.45.3.3},
  abstract = {This paper provides an overview of different inheritance tax regimes in selected European countries and the United States. We show that in the majority of countries the tax rate is related to the relationship between testator and the beneficiary as well as the value of the inherited assets. In most countries the transfer of wealth within families is treated preferentially (lower tax rates, tax exemptions and reliefs). This is particularly the case for business assets and family homes. The analysis further discusses the features and effects of inheritance tax regimes, which include behavioural responses of individuals and different distributional effects of an inheritance tax. Although the actual revenues of inheritance taxation are quite low in the selected countries, some indicators point to higher revenue potentials in the future. An appropriate design for inheritance taxation could further help to decelerate the increase in wealth inequality.},
  keywords = {Cross-National Comparisons,Estate Inheritance and Gift Taxes}
}

Taxing Wealth: General Principles, International Perspectives and Lessons for Brazil. Morgan, Marc. Brazilian Journal of Political Economy, 41(1): 44–64. 2021.

link doi

@article{Morgan2021,
  title = {Taxing Wealth: General Principles, International Perspectives and Lessons for Brazil},
  author = {Morgan, Marc},
  year = {2021},
  journal = {Brazilian Journal of Political Economy},
  volume = {41},
  number = {1},
  pages = {44--64},
  publisher = {Centro de Economia Pol{\'i}tica},
  doi = {10.1590/0101-31572021-3131},
  url = {http://dx.doi.org/10.1590/0101-31572021-3131},
  abstract = {The international debate on wealth taxation has been subject to renewed interest amid new proposals coming out of the US electoral cycle and the salience of wealth inequality. This article reviews the case for taxing wealth and its transfer across generations (wealth and inheritance taxes), analyzing their design from an international comparative perspective, and extracting lessons for Brazil. The long-debated ``Tax on Large Fortunes'' has never been implemented and the state-level ``Tax on Inheritances'' has been watered down over time. We propose a framework for the progressive implementation and reform of both taxes in the country. We argue, given the historical record and current research, that they are technically and administratively feasible propositions, notwithstanding important political economy considerations.},
  keywords = {Estate Inheritance and Gift Taxes}
}

Inheritance Taxation in OECD Countries. OECD. OECD Publishing. May 2021.

link doi

@book{OECD2021_InheritanceTaxationOECDCountries,
  title = {Inheritance Taxation in {{OECD}} Countries},
  author = {{OECD}},
  year = {2021},
  month = {may},
  number = {28},
  publisher = {OECD Publishing},
  doi = {10.1787/e2879a7d-en},
  url = {https://doi.org/10.1787/e2879a7d-en},
  abstract = {The report explores the role that inheritance taxation could play in raising revenues, addressing inequalities and improving efficiency in OECD countries. It provides background on the distribution and evolution of household wealth and inheritances, assesses the case for and against inheritance taxation drawing on existing theoretical and empirical literature, and examines the design of inheritance, estate and gift taxes in OECD countries. The report concludes with a number of reform options that governments could consider to improve the design and functioning of wealth transfer taxes.},
  keywords = {Data Sources: Taxes on Wealth,Cross-National Comparisons,Estate Inheritance and Gift Taxes,Trends in Aggregate Wealth and Wealth Inequality},
  address = {Paris},
  isbn = {978-92-64-63428-2},
  series = {{{OECD Tax Policy Studies}}}
}

Rethinking of Inheritance Taxation in Russia. Ryabova, Elena; and Ivanushchenko, Evgeniya. Russian Law Journal, 9(1): 34–57. March 2021.

link doi

@article{RyabovaIvanushchenko2021,
  title = {Rethinking of Inheritance Taxation in Russia},
  author = {Ryabova, Elena and Ivanushchenko, Evgeniya},
  year = {2021},
  month = {mar},
  journal = {Russian Law Journal},
  volume = {9},
  number = {1},
  pages = {34--57},
  doi = {10.17589/2309-8678-2021-9-1-34-57},
  url = {https://www.russianlawjournal.org/jour/article/view/1132},
  abstract = {This article analyses theoretical and practical implications of inheritance tax as the most debatable tax from legal and ethical viewpoints. Some countries have refused taxing inheritance. Others have applied inheritance taxation from national to local levels. The majority of developed countries tax wealth transfers. The primary purpose of inheritance taxation is the allocation of wealth within society and the mitigation of social inequality. Currently, Russia has neither an inheritance tax, nor any other wealth or wealth transfer taxes. This indicates an unfair tax system. The study is based on the analysis of the history of inheritance taxation in Russia and abroad, and the contemporary legal framework and practices in foreign countries. The authors highlight current advantages and disadvantages of inheritance taxation, the functions of the tax, and state considerations related to the potential design of inheritance tax in Russia. The main conclusion is that inheritance tax should be imposed in Russia as a social-oriented mechanism and levied on only the top-wealth societal cluster.},
  keywords = {Estate Inheritance and Gift Taxes}
}

Inheritance Taxation in Comparative Perspective. Schechtl, Manuel. LIS. June 2021.

link

@techreport{Schechtl2021,
  title = {Inheritance Taxation in Comparative Perspective},
  author = {Schechtl, Manuel},
  year = {2021},
  month = {jun},
  number = {35},
  institution = {LIS},
  url = {https://www.lisdatacenter.org/wps/lwswps/35.pdf},
  urldate = {2023-12-03},
  abstract = {The role of inheritances for wealth inequality has been frequently addressed. However, until recently, comparative data has been scarce. This paper compiles inheritance tax information from EY Worldwide Estate and Inheritance Tax Guide and combines it with microdata from the Luxembourg Wealth Study. The results indicate substantial differences in the tax base and the distributional potential of inheritance taxation across countries.},
  keywords = {Cross-National Comparisons,Estate Inheritance and Gift Taxes},
  type = {{{LWS Working Paper Series}}}
}

The Rise of Modern Taxation: A New Comprehensive Dataset of Tax Introductions Worldwide. Seelkopf, Laura; Bubek, Moritz; Eihmanis, Edgars; Ganderson, Joseph; Limberg, Julian; Mnaili, Youssef; Zuluaga, Paula; and Genschel, Philipp. The Review of International Organizations, 16(1): 239–263. January 2021.

link codebook tax introduction database doi

@article{Seelkopfetal2021,
  title = {The Rise of Modern Taxation: {{A}} New Comprehensive Dataset of Tax Introductions Worldwide},
  author = {Seelkopf, Laura and Bubek, Moritz and Eihmanis, Edgars and Ganderson, Joseph and Limberg, Julian and Mnaili, Youssef and Zuluaga, Paula and Genschel, Philipp},
  year = {2021},
  month = {jan},
  journal = {The Review of International Organizations},
  volume = {16},
  number = {1},
  pages = {239--263},
  doi = {10.1007/s11558-019-09359-9},
  url = {https://doi.org/10.1007/s11558-019-09359-9},
  abstract = {This article describes the new Tax Introduction Dataset (TID). Listing the year and the mode of the first permanent introduction of six major taxes (inheritance tax, personal income tax, corporate income tax, social security contributions, general sales tax and value added tax) in 220 countries, 1750--2018, TID is the most comprehensive dataset of its kind. The comprehensiveness of our measure is of critical value to empirical work on the causes of tax innovation and its consequences for state, society and economy. In this paper, we explain the selection of our tax sample and the structure of the dataset, descriptively map temporal and regional patterns of tax introductions around the world, and draw on TID to investigate associations between tax introductions and economic development, war, and democratization.},
  keywords = {Estate Inheritance and Gift Taxes,Intergenerational Wealth},
  url_codebook = {https://bibbase.org/network/publication/genschel-seelkopf-codebooktaxintroductiondatasettid-2019},
  url_tax_introduction_database = {https://bibbase.org/network/publication/genschel-seelkopf-taxintroductiondatabase-2019}
}

Understanding Tax Policy: How Do People Reason? Stantcheva, Stefanie. The Quarterly Journal of Economics, 136(4): 2309–2369. November 2021.

link doi

@article{Stantcheva2021,
  title = {Understanding Tax Policy: How Do People Reason?},
  author = {Stantcheva, Stefanie},
  year = {2021},
  month = {nov},
  journal = {The Quarterly Journal of Economics},
  volume = {136},
  number = {4},
  pages = {2309--2369},
  doi = {10.1093/qje/qjab033},
  url = {https://doi.org/10.1093/qje/qjab033},
  abstract = {I study how people understand, reason, and learn about two major tax policies: income taxation and estate taxation. Using large-scale social economics surveys issued to representative U.S. samples and associated experiments, I elicit respondents' factual knowledge about tax policy and the income or wealth distributions. Most important, I study their understanding of the mechanisms of tax policy and the reasoning that underlies their policy views. In decomposing policy views, I find that support for income and estate taxes is most strongly correlated with social preferences, that is, the perceived benefits of redistribution and concerns around the fairness of inequality and taxation, as well as with broader views of the government. Efficiency concerns play a more minor role. These correlational patterns are confirmed by the experimental approach, which shows people instructional videos that explain the workings and consequences of one of the aspects of tax policy (the Redistribution and the Efficiency treatments) or that bring the two together and focus on the trade-off (the Economist treatment). The Redistribution and Economist treatments significantly increase support for more progressive income or estate taxes, while the Efficiency treatment has no effect. There are large partisan gaps in both the final policy views and at every step of the reasoning about the underlying mechanisms of taxes. Democrats' and Republicans' divergences in tax policy views can ultimately be traced back to different normative criteria (social preferences) and views of the government, rather than to different perceptions of the efficiency implications of taxation.},
  keywords = {Estate Inheritance and Gift Taxes}
}

Shifting the Tax Burden Away from Labour towards Inheritances and Gifts – Simulation Results for Germany. Thiemann, A.; Ognyanova, D.; Narazani, E.; Palvolgyi, B.; Kalyva, A.; and Leodolter, Alexander. Joint Research Centre. December 2021.

link

@techreport{Thiemannetal2021,
  title = {Shifting the Tax Burden Away from Labour towards Inheritances and Gifts -- Simulation Results for {{Germany}}},
  author = {Thiemann, A. and Ognyanova, D. and Narazani, E. and Palvolgyi, B. and Kalyva, A. and Leodolter, Alexander},
  year = {2021},
  month = {dec},
  number = {16/2021},
  institution = {Joint Research Centre},
  url = {https://joint-research-centre.ec.europa.eu/reports-and-technical-documentation/shifting-tax-burden-away-labour-towards-inheritances-and-gifts-simulation-results-germany_en},
  urldate = {2024-05-30},
  abstract = {Germany's tax system places a relatively strong emphasis on direct taxes, particularly on labour. At the same time, revenues from the inheritance and gift tax are relatively low. This points towards a large-scale transfer of wealth from one generation to the next that is largely untaxed and thereby maintaining the high degree of wealth inequality observed in Germany. This is due mainly to the wide-ranging tax exemptions for business assets, which make the system complex, inefficient and regressive. This paper presents three hypothetical budget-neutral scenarios of broadening the inheritance and gift tax base while reducing the tax burden on labour income. Keeping the current progressive rates but abolishing tax exemptions would lead to about EUR 9-12 billion additional annual inheritance and gift tax revenue. Replacing the current tax regime by a flat rate of 10\% or 15\% could yield about EUR 0.5-2.3 billion or EUR 4-6.5 billion. Using EUROMOD, the microsimulation model of the EU, we show that these additional revenues could be used to reduce the tax burden on labour, which would improve income equality. Furthermore, estimations of labour supply responses to these reforms, based on the EUROLAB labour supply model, indicate that lowering the tax burden on labour may also lead to a slight increase in labour supply in particular for low-income earners.},
  keywords = {Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes},
  type = {{{JRC Working Papers}} on {{Taxation}} and {{Structural Reforms}}}
}

2020 (2)

Capital and Ideology. PIketty, Thomas. The Belknap Press of Harvard University Press. 2020.

link

@book{Piketty2020,
  title = {Capital and Ideology},
  author = {PIketty, Thomas},
  year = {2020},
  publisher = {The Belknap Press of Harvard University Press},
  url = {http://piketty.pse.ens.fr/fr/ideology},
  urldate = {2022-03-16},
  keywords = {Data Sources: Taxes on Wealth,Cross-National Comparisons,Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes,Impacts of Wealth Inequality,Intergenerational Wealth,Wealth Taxation},
  address = {Cambridge, MA},
  isbn = {978-0-674-24507-5},
  translator = {Goldhammer, Arthur}
}

Racialized Tax Inequity: Wealth, Racism, and the U.S. System of Taxation. Strand, Palma Joy; and Mirkay, Nicholas A. Northwestern Journal of Law & Social Policy, 15(3): 265. 2020.

link

@article{StrandMirkay2020,
  title = {Racialized Tax Inequity: Wealth, Racism, and the {{U}}.{{S}}. System of Taxation},
  author = {Strand, Palma Joy and Mirkay, Nicholas A.},
  year = {2020},
  journal = {Northwestern Journal of Law \& Social Policy},
  volume = {15},
  number = {3},
  pages = {265},
  url = {https://scholarlycommons.law.northwestern.edu/njlsp/vol15/iss3/1},
  urldate = {2024-05-29},
  keywords = {Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes,Wealth Taxation}
}

2019 (2)

Taxing the Rich: Issues and Options. Batchelder, Lily L.; and Kamin, David. SSRN Electronic Journal, pp. 1–51. 2019.

link doi

@article{BatchelderKamin2019,
  title = {Taxing the Rich: Issues and Options},
  author = {Batchelder, Lily L. and Kamin, David},
  year = {2019},
  journal = {SSRN Electronic Journal},
  pages = {1--51},
  doi = {10.2139/ssrn.3452274},
  url = {http://doi.org/10.2139/ssrn.3452274},
  abstract = {The U.S. economy exhibits high inequality and low economic mobility across generations relative to other high-income countries. The U.S. will need to raise more revenues in order to reduce these disparities, finance much-needed new services and investments, and address the nation's long-term fiscal needs. This paper outlines policy options for raising a large amount of revenues primarily from the most affluent, first discussing potential incremental reforms and then focusing on four main options for more structural reform: (1) dramatically increasing the top tax rates on labor and other ordinary income, (2) taxing the wealthy on accrued gains as they arise and at ordinary rates, (3) a wealth tax on high-net-worth individuals, and (4) a financial transactions tax. Although we summarize the relative advantages and disadvantages of these approaches, we generally conclude that they all merit serious consideration. Several options are also complementary to one another. In practice, however, the relative strengths of each of these policies will depend to a large extent on how each is designed after it has made its way through the legislative and regulatory process.},
  keywords = {Estate Inheritance and Gift Taxes,Wealth Taxation}
}

Bequests, Estate Taxes, and Wealth Distributions. Wan, Jing; and Zhu, Shenghao. Economic Theory, 67(1): 179–210. 2019.

link doi

@article{WanZhu2019,
  title = {Bequests, Estate Taxes, and Wealth Distributions},
  author = {Wan, Jing and Zhu, Shenghao},
  year = {2019},
  journal = {Economic Theory},
  volume = {67},
  number = {1},
  pages = {179--210},
  publisher = {Springer Berlin Heidelberg},
  doi = {10.1007/s00199-017-1091-7},
  url = {http://link.springer.com/10.1007/s00199-017-1091-7},
  abstract = {Bossmann et al. (J Public Econ 91:1247--1271, 2007) found that estate taxes reduce the long-run wealth inequality. This result contrasts with the findings of the previous literature with idiosyncratic labor efficiency risk. We use a decomposition technique, developed by Davies (J Labor Econ 4:538--559, 1986), to reinvestigate the impact of estate taxes on the long-run wealth inequality. We find that the different results of estate taxes are due to the different redistribution effects.},
  keywords = {Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes}
}

2018 (3)

Passing on: Options for Reforming Inheritance Taxation. Corlett, Adam. Resolution Foundation. May 2018.

link file

@techreport{Corlett2018,
  title = {Passing on: Options for Reforming Inheritance Taxation},
  author = {Corlett, Adam},
  year = {2018},
  month = {may},
  institution = {Resolution Foundation},
  url = {https://www.resolutionfoundation.org/publications/passing-on-options-for-reforming-inheritance-taxation/},
  urldate = {2022-02-01},
  abstract = {Over the past 18 months, research for the Intergenerational Commission has illustrated how the assumption that each generation will do better than the one before it is under pressure. This paper is one of a series that moves beyond the diagnosis of these problems to consider what action is needed to address generational living standards challenges. In this paper, our focus is inheritance taxation. With inheritances growing rapidly in importance at the same time as fiscal pressures, inheritance taxation must play its role in raising revenue in a fair way. But the current Inheritance Tax system manages to raise relatively little while also being especially unpopular. It is seen as unfair for three main reasons: taxing giving is seen as a bad thing, as is the tax's explicit link to death; it has a high rate; and it is seen as easy for the richest to avoid due to its wide range of exemptions. This paper proposes a Lifetime Receipts Tax that would address these problems while also encouraging individuals to spread their wealth wider and raising revenue to help fix Britain's intergenerational contract.},
  keywords = {Data Sources: Taxes on Wealth,Estate Inheritance and Gift Taxes},
  type = {Intergenerational {{Commission Report}}},
  url_file = {Corlett2018.pdf}
}

Inheritance Taxation: Redistribution and Predistribution. Cowell, Frank A.; Van de gaer, Dirk; and He, Chang. Inequality, Taxation and Intergenerational Transmission, 26: 1–13. 2018.

link doi

@incollection{Cowelletal2018a,
  title = {Inheritance Taxation: Redistribution and Predistribution},
  author = {Cowell, Frank A. and {Van de gaer}, Dirk and He, Chang},
  year = {2018},
  booktitle = {Inequality, Taxation and Intergenerational Transmission},
  volume = {26},
  pages = {1--13},
  publisher = {Emerald Publishing Limited},
  doi = {10.1108/S1049-258520180000026002},
  url = {https://doi.org/10.1108/S1049-258520180000026002},
  abstract = {It is well known that taxes on the transfer of wealth typically raise very little revenue. However, this does not mean that they are ineffective as tools for redistribution. In this chapter, we show how important such taxes can be in the long-run distribution of wealth, reducing equilibrium inequality (the ``predistribution'' effect) by a much larger amount than what is apparent in terms of the immediate impact of the tax (the ``redistribution'' effect).},
  keywords = {Estate Inheritance and Gift Taxes},
  chapter = {1},
  editor = {Bishop, John A and Rodr{\'i}guez, Juan Gabriel},
  isbn = {978-1-78756-458-9 978-1-78756-457-2},
  series = {Research on Economic Inequality}
}

Wealth and Inheritance Taxation: An Overview and Country Comparison. Drometer, Marcus; Frank, Marco; Hofbauer Pérez, Maria; Rhode, Carla; Schworm, Sebastian; and Stitteneder, Tanja. ifo DICE Report, 16(2): 45–54. 2018.

link file

@article{Drometeretal2018,
  title = {Wealth and Inheritance Taxation: An Overview and Country Comparison},
  author = {Drometer, Marcus and Frank, Marco and Hofbauer P{\'e}rez, Maria and Rhode, Carla and Schworm, Sebastian and Stitteneder, Tanja},
  year = {2018},
  journal = {ifo DICE Report},
  volume = {16},
  number = {2},
  pages = {45--54},
  url = {https://www.ifo.de/en/publikationen/2018/article-journal/wealth-and-inheritance-taxation-overview-and-country-comparison},
  urldate = {2022-02-01},
  abstract = {Although having attracted more attention in recent years, wealth and wealth distributions still play a minor role compared to income distributions in discussions concerning inequalities within and across countries (see, for example, sustainable development goals from the UN; OECD 2015). This article provides an overview of existing data on wealth and wealth taxes around the globe. Firstly, we present data on wealth levels for selected OECD countries and discuss the general difficulties in measuring wealth. Secondly, we investigate the existing net wealth taxation regimes in selected OECD countries. Thirdly, we compare inheritance and gift taxation regimes across the same sample of OECD countries and illustrate that tax regimes differ vastly from one another.},
  keywords = {Data Sources: Taxes on Wealth,Estate Inheritance and Gift Taxes},
  url_file = {Drometeretal2018.pdf}
}

2017 (1)

Capital and the Hindu Rate of Growth: Wealth Concentration in Newly Independent India 1961-1986. Kumar, Rishabh. August 2017.

link

@unpublished{Kumar2017,
  title = {Capital and the {{Hindu}} Rate of Growth: Wealth Concentration in Newly Independent {{India}} 1961-1986},
  author = {Kumar, Rishabh},
  year = {2017},
  month = {aug},
  url = {https://scholarworks.lib.csusb.edu/economics-publications/3/},
  urldate = {2024-05-29},
  abstract = {I provide estimates for the size and importance of top wealth-holders in India during the stagnant growth phase before the early 1990s liberalization. Relative to national income which famously grew at The Hindu Rate of Growth, my paper suggests a large and fast decline in the wealth of India's Top 0.1\%. Due to the effects of inflation, progressive property taxation and nationalization much of incumbent private wealth was dismantled. New wealth was made of movable assets which unlike urban and agricultural land actually recovered in value. I offer explanations of these transformative dynamics based on the attitudes of the Indian state during and prior to the reign of Indira Gandhi. The results link the composition of the rich in colonial India versus post-liberalization India with important implications for wealth inequality, the equalizing forces inherent in tax policy and the role of the state in regulating social disparities.},
  keywords = {Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes,Trends in Aggregate Wealth and Wealth Inequality,Wealth Taxation},
  note = {Unpublished manuscript}
}

2015 (3)

Inequality: What Can Be Done? Atkinson, A. B. 2015.

link

@book{Atkinson2015,
  title = {Inequality: What Can Be Done?},
  author = {Atkinson, A. B.},
  year = {2015},
  url = {https://www.hup.harvard.edu/catalog.php?isbn=9780674504769},
  abstract = {Inequality is one of our most urgent social problems. Curbed in the decades after World War II, it has recently returned with a vengeance. We all know the scale of the problem---talk about the 99\% and the 1\% is entrenched in public debate---but there has been little discussion of what we can do but despair. According to the distinguished economist Anthony Atkinson, however, we can do much more than skeptics imagine. Atkinson has long been at the forefront of research on inequality, and brings his theoretical and practical experience to bear on its diverse problems. He presents a comprehensive set of policies that could bring about a genuine shift in the distribution of income in developed countries. The problem, Atkinson shows, is not simply that the rich are getting richer. We are also failing to tackle poverty, and the economy is rapidly changing to leave the majority of people behind. To reduce inequality, we have to go beyond placing new taxes on the wealthy to fund existing programs. We need fresh ideas. Atkinson thus recommends ambitious new policies in five areas: technology, employment, social security, the sharing of capital, and taxation. He defends these against the common arguments and excuses for inaction: that intervention will shrink the economy, that globalization makes action impossible, and that new policies cannot be afforded. More than just a program for change, Atkinson's book is a voice of hope and informed optimism about the possibilities for political action.},
  keywords = {Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes,Impacts of Wealth Inequality,Wealth Taxation},
  isbn = {978-0-674-50476-9}
}

Optimal Income, Education, and Bequest Taxes in an Intergenerational Model. Stantcheva, Stefanie. National Bureau of Economic Research. May 2015.

link doi

@techreport{Stantcheva2015,
  title = {Optimal Income, Education, and Bequest Taxes in an Intergenerational Model},
  author = {Stantcheva, Stefanie},
  year = {2015},
  month = {may},
  number = {21177},
  institution = {National Bureau of Economic Research},
  doi = {10.3386/w21177},
  url = {https://doi.org/10.3386/w21177},
  abstract = {This paper considers dynamic optimal income, education, and bequest taxes in a Barro-Becker dynastic setup. Parents can transfer resources to their children in two ways: First, through education investments, which have heterogeneous and stochastic returns for children, and, second, through financial bequests, which yield a safe, uniform return. Each generation's productivity and preferences are subject to idiosyncratic shocks. I derive optimal linear formulas for each tax, as functions of estimable sufficient statistics, robust to underlying heterogeneities in preferences, and at any given level of all other taxes. It is in general not optimal to make education expenses fully tax deductible and the optimal education subsidy, income tax and bequest tax can, but need not, move together at the optimum. I also show how to derive optimal formulas using ``reform-specific elasticities'' that can be targeted to empirical estimates from existing reforms. I extend the model to an OLG model with altruism to study the effects of credit constraints on optimal policies. Finally, I solve for the fully unrestricted policies and show that, if education is highly complementary to children's ability, it is optimal to distort parents' trade-off between education and bequests and to tax education investments relative to bequests.},
  keywords = {Estate Inheritance and Gift Taxes},
  type = {Working {{Paper}}}
}

Taxing Wealth: Past, Present, Future. European Economy Discussion Papers. 2015.

link doi

@book{Astarita2015,
  title = {Taxing Wealth: Past, Present, Future},
  author = {Unknown},
  year = {2015},
  journal = {European Economy Discussion Papers},
  publisher = {{European Commission Directorate-General for Economic and Financial Affairs}},
  doi = {10.2765/257050},
  url = {https://ec.europa.eu/info/publications/economy-finance/taxing-wealth-past-present-future-workshop-proceedings_en},
  abstract = {In times of fiscal consolidation and strong macroeconomic adjustment needs in some EU Member States, the debate on wealth taxation gained momentum, both in the academic and in the policy debate. In this context, the aim of the workshop, held by DG ECFIN on 13 November 2014, was to discuss theoretical and policy issues associated with wealth taxation, including the broad principles and the concrete design challenges of an optimal wealth tax. Different types of wealth taxation have been scrutinised including transmission taxes, housing taxes and the taxation of financial assets. The challenges they may raise have been discussed also with respect to recent experience in particular Member States. The workshop was organised in two sessions: "Taxation of wealth: state of play and rationale" and "Taxing wealth: specific instruments and challenges". The proceedings offer a detailed summary of the most recent research related to various aspects of wealth taxation and carried out by academics and international organisations' representatives.},
  keywords = {Estate Inheritance and Gift Taxes,Wealth Taxation},
  editor = {Astarita, Caterina},
  isbn = {978-92-79-48662-3},
  series = {European {{Economy Discussion Papers}}}
}

2014 (2)

Do Transfer Taxes Reduce Intergenerational Transfers? Jappelli, Tullio; Pica, Giovanni; and Padula, Mario. Journal of the European Economic Association, 12(1): 248–275. February 2014.

link doi

@article{Jappellietal2014,
  title = {Do Transfer Taxes Reduce Intergenerational Transfers?},
  author = {Jappelli, Tullio and Pica, Giovanni and Padula, Mario},
  year = {2014},
  month = {feb},
  journal = {Journal of the European Economic Association},
  volume = {12},
  number = {1},
  pages = {248--275},
  doi = {10.1111/jeea.12044},
  url = {https://doi.org/10.1111/jeea.12044},
  abstract = {We estimate the effect of taxes on intergenerational transfers by exploiting a sequence of Italian reforms culminating with the abolishment of transfer taxes. We use the Surveys of Household Income and Wealth from 1993 to 2006, which have data on real estate transfers, and information on potential donors and recipients. Difference-in-differences estimates indicate that the abolition of transfer taxes increases the probability of high-wealth donors making a transfer by two percentage points and increases the area transferred by 9.3 square meters relative to poorer donors.},
  keywords = {Estate Inheritance and Gift Taxes}
}

Wealth Transfer Taxation: An Empirical Investigation. Profeta, Paola; Scabrosetti, Simona; and Winer, Stanley L. International Tax and Public Finance, 21(4): 720–767. August 2014.

link doi

@article{Profetaetal2014,
  title = {Wealth Transfer Taxation: An Empirical Investigation},
  author = {Profeta, Paola and Scabrosetti, Simona and Winer, Stanley L.},
  year = {2014},
  month = {aug},
  journal = {International Tax and Public Finance},
  volume = {21},
  number = {4},
  pages = {720--767},
  doi = {10.1007/s10797-014-9325-0},
  url = {https://doi.org/10.1007/s10797-014-9325-0},
  abstract = {We present an empirical model of wealth transfer taxation in the revenue systems of the G7 countries---Canada, France, Germany, Italy, Japan, the UK, and the US---over the period from 1965 to 2009. Our model emphasizes the influences of population aging and of the stock of household wealth in an explanation of the past and likely future of this tax source. Simulations with the model using U.N. demographic projections and projections of household wealth suggest that even in France and Germany where reliance on wealth transfer taxation has been increasing for part of the period studied, wealth transfer taxes can be expected to wither away as population aging deepens over the next two decades. Our results indicate that recent tax designs that rely upon the taxation of wealth transfers to preserve equity in the face of declining taxation of capital incomes may be, in this respect, politically infeasible for the foreseeable future. We conclude by using the case of wealth transfer taxation to raise the general question of the extent to which the consistency of a proposed reform with expected political equilibria ought to play a role in the design of a normative policy blueprint.},
  keywords = {Data Sources: Taxes on Wealth,Estate Inheritance and Gift Taxes}
}

2013 (1)

Taxation of Intergenerational Transfers and Wealth. Kopczuk, Wojciech. Handbook of Public Economics, pp. 329–390. 2013.

link doi

@incollection{Kopczuk2013a,
  title = {Taxation of Intergenerational Transfers and Wealth},
  author = {Kopczuk, Wojciech},
  year = {2013},
  booktitle = {Handbook of Public Economics},
  number = {4},
  pages = {329--390},
  publisher = {Elsevier},
  doi = {10.1016/B978-0-444-53759-1.00006-6},
  url = {https://doi.org/10.1016/B978-0-444-53759-1.00006-6},
  abstract = {In this chapter, I review empirical and theoretical literature on taxation of intergenerational transfers (estates, bequests, inheritances, inter vivos gifts) and wealth. The main message may be summarized as follows. Empirical evidence on bequest motivations and responses to estate taxation is spotty and much remains be done, but what we know points in the direction of (1) mixed motives, (2) heterogeneity of preferences, and (3) importance of retaining control over wealth. These patterns are important for normative analysis of taxation toward the top of the distribution. Theoretical work should further focus on understanding implications of inequality of inherited wealth: the topic that has been neglected in the past, even though it is closely related to-more carefully studied, but arguably much less important in practice-externalities from giving. Potential externalities from wealth accumulation and concentration are yet to be seriously addressed. {\copyright} 2013 Elsevier B.V.},
  keywords = {Cross-National Comparisons,Estate Inheritance and Gift Taxes,Intergenerational Wealth},
  annotation = {volume 5},
  chapter = {Ch. 6},
  editor = {Auerbach, Alan J. and Chetty, Raj and Feldstein, Martin and Saez, Emmanuel}
}

2012 (2)

The Taxation of Capitalistic Bequests. Kley, Verena. Karlsruhe Institute of Technology. 2012.

link doi

@phdthesis{Kley2012,
  title = {The Taxation of Capitalistic Bequests},
  author = {Kley, Verena},
  year = {2012},
  doi = {10.1007/978-3-8349-7136-4},
  url = {http://doi.org/10.1007/978-3-8349-7136-4},
  abstract = {The taxation of bequests has long been and still is subject to intensive discussions in many industrialized countries. Triggered by these discussions, Verena Kley analyzes the taxation of bequests from economic perspectives, focusing on wealth transfers of very rich individuals. Given empirical findings, bequests of these individuals generate almost the entire revenues from wealth transfer taxation. Due to this, their specific preferences prove to be decisive for the optimal taxation of bequests. The author analyzes normative as well as positive implications for optimal wealth transfer taxation, accounting for a {\quotesinglbase}capitalist spirit' -- traditionally associated with the upper tail of the wealth distribution.},
  keywords = {Data Sources: Taxes on Wealth,Estate Inheritance and Gift Taxes},
  note = {Gabler Verlag},
  school = {Karlsruhe Institute of Technology}
}

Democracy, War, and Wealth: Lessons from Two Centuries of Inheritance Taxation. Scheve, Kenneth; and Stasavage, David. American Political Science Review, 106(1): 81–102. February 2012.

link comparative inheritance taxation database database codebook doi

@article{ScheveStasavage2012,
  title = {Democracy, War, and Wealth: Lessons from Two Centuries of Inheritance Taxation},
  author = {Scheve, Kenneth and Stasavage, David},
  year = {2012},
  month = {feb},
  journal = {American Political Science Review},
  volume = {106},
  number = {1},
  pages = {81--102},
  doi = {10.1017/S0003055411000517},
  url = {https://doi.org/10.1017/S0003055411000517},
  abstract = {In this article we use an original data set to provide the first empirical analysis of the political economy of inherited wealth taxation that covers a significant number of countries and a long time frame (1816--2000). Our goal is to understand why, if inheritance taxes are often very old taxes, the implementation of inheritance tax rates significant enough to affect wealth inequality is a much more recent phenomenon. We hypothesize alternatively that significant taxation of inherited wealth depended on (1) the extension of the suffrage and (2) political conditions created by mass mobilization for war. Using a difference-in-differences framework for identification, we find little evidence for the suffrage hypothesis but very strong evidence for the mass mobilization hypothesis. Our study has implications for understanding the evolution of wealth inequality and the political conditions under which countries are likely to implement policies that significantly redistribute wealth and income.},
  keywords = {Data Sources: Taxes on Wealth,Estate Inheritance and Gift Taxes},
  url_comparative_inheritance_taxation_database = {https://bibbase.org/network/publication/plagge-scheve-stasavage-comparativeinheritancetaxationdatabase-2010},
  url_database_codebook = {https://bibbase.org/network/publication/plagge-scheve-stasavage-comparativeinheritancetaxationdatabasecodebook-2011}
}

2011 (2)

The Distribution of Wealth and Fiscal Policy in Economies with Finitely Lived Agents. Benhabib, Jess; Bisin, Alberto; and Zhu, Shenghao. Econometrica, 79(1): 123–157. 2011.

link doi

@article{Benhabibetal2011,
  title = {The Distribution of Wealth and Fiscal Policy in Economies with Finitely Lived Agents},
  author = {Benhabib, Jess and Bisin, Alberto and Zhu, Shenghao},
  year = {2011},
  journal = {Econometrica},
  volume = {79},
  number = {1},
  pages = {123--157},
  doi = {10.3982/ECTA8416},
  url = {http://doi.org/10.3982/ECTA8416},
  abstract = {We study the dynamics of the distribution of wealth in an overlapping generation economy with finitely lived agents and intergenerational transmission of wealth. Financial markets are incomplete, exposing agents to both labor and capital income risk. We show that the stationary wealth distribution is a Pareto distribution in the right tail and that it is capital income risk, rather than labor income, that drives the properties of the right tail of the wealth distribution. We also study analytically the dependence of the distribution of wealth---of wealth inequality in particular---on various fiscal policy instruments like capital income taxes and estate taxes, and on different degrees of social mobility. We show that capital income and estate taxes can significantly reduce wealth inequality, as do institutions favoring social mobility. Finally, we calibrate the economy to match the Lorenz curve of the wealth distribution of the U.S. economy.},
  keywords = {Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes,Intergenerational Wealth,Wealth Taxation}
}

Transfer Taxes and Inequality. Jappelli, Tullio; Padula, Mario; and Pica, Giovanni. Amsterdam Institute for Advanced Labour Studies. December 2011.

link file

@techreport{Jappellietal2011,
  title = {Transfer Taxes and Inequality},
  author = {Jappelli, Tullio and Padula, Mario and Pica, Giovanni},
  year = {2011},
  month = {dec},
  number = {21},
  institution = {Amsterdam Institute for Advanced Labour Studies},
  url = {http://archive.uva-aias.net/uploaded_files/publications/DP21-Jappelli,Padula,Pica.pdf},
  abstract = {This study surveys the existing debate on the taxation of the intergenerational transfers. Understanding the effect of transfer taxes on the intergenerational transmission of wealth requires answering the difficult question of what is the effect of taxes on bequest. On the one hand, the economic literature is far from sharing a unanimous view on the exact nature of the motive to leave bequests. On the other, data problems, and in particular lack of data on donors, makes it hard to provide conclusive evidence on the matter. To put the debate in context, we review the legislation on the taxation of intergenerational transfers in several OECD countries. Institutional arrangements on estate taxations vary widely between countries. Despite such heterogeneity, the revenues from taxing intergen- erational transfers are generally low, and decreasing from 1\% in the mid-sixties to 0.4\% after 1980. We take this trend as broadly indicative that little redistribution takes place through taxation of intergenerational transfers. The available evidence and the related theoretical issues make it hard to establish a causal link between the increase in wealth and income inequality and the vanishing transfer tax.},
  keywords = {Data Sources: Taxes on Wealth,Estate Inheritance and Gift Taxes},
  type = {{{GINI Discussion Paper}}},
  url_file = {Jappellietal2011.pdf}
}

2010 (2)

Taxation of Wealth and Wealth Transfers. Boadway, Robin; Chamberlain, Emma; and Emmerson, Carl. Dimensions of Tax Design: The Mirrlees Review, pp. 737–836. 2010.

link

@incollection{Boadwayetal2010a,
  title = {Taxation of Wealth and Wealth Transfers},
  author = {Boadway, Robin and Chamberlain, Emma and Emmerson, Carl},
  year = {2010},
  booktitle = {Dimensions of Tax Design: The {{Mirrlees Review}}},
  pages = {737--836},
  publisher = {Oxford University Press},
  url = {https://www.ifs.org.uk/publications/5225},
  abstract = {Dimensions of Tax Design brings together a high-profile group of more than fifty international experts and younger researchers. It consists of a set of thirteen commissioned studies which draw on the latest thinking in each area. These are supplemented by expert commentaries to provide a wide range of views and ideas.},
  keywords = {Estate Inheritance and Gift Taxes,Wealth Taxation},
  editor = {Mirrlees, James and Adam, Stuart and Besley, Timothy and Blundell, Richard and Bond, Stephen and Chote, Robert and Gammie, Malcolm and Johnson, Paul and Myles, Gareth and Poterba, James},
  isbn = {978-0-19-955375-4}
}

Progressive Estate Taxation. Farhi, Emmanuel; and Werning, Iván. The Quarterly Journal of Economics, 125(2): 635–673. 2010.

link doi

@article{FarhiWerning2010,
  title = {Progressive Estate Taxation},
  author = {Farhi, Emmanuel and Werning, Iv{\'a}n},
  year = {2010},
  journal = {The Quarterly Journal of Economics},
  volume = {125},
  number = {2},
  pages = {635--673},
  doi = {10.1162/qjec.2010.125.2.635},
  url = {http://doi.org/10.1162/qjec.2010.125.2.635},
  abstract = {We present a model with altruistic parents and heterogeneous productivity. We derive two key properties for optimal estate taxation. First, the estate tax should be progressive, so that parents leaving a higher bequest face a lower net return on bequests. Second, marginal estate taxes should be negative, so that all parents face a marginal subsidy on bequests. Both properties can be implemented with a simple nonlinear tax on bequests, levied separately from the income tax. These results apply to other intergenerational transfers, such as educational investments, and are robust to endogenous fertility choices. Both estate or inheritance taxes can implement the optimal allocation, but we show that the inheritance tax has some advantages. Finally, when we impose an ad hoc constraint requiring marginal estate taxes to be nonnegative, the optimum features a zero tax up to an exemption level, and a progressive tax thereafter.},
  keywords = {Estate Inheritance and Gift Taxes,Intergenerational Wealth}
}

2005 (1)

Confronting Income Inequality in Japan. Tachibanaki, Toshiaki. MIT Press. November 2005.

link

@book{Tachibanaki2005,
  title = {Confronting Income Inequality in {{Japan}}},
  author = {Tachibanaki, Toshiaki},
  year = {2005},
  month = {nov},
  publisher = {MIT Press},
  url = {https://mitpress.mit.edu/books/confronting-income-inequality-japan},
  abstract = {Contrary to general belief, and to Japan's own self-image, inequality of income and wealth distribution in Japan has grown in the past two decades. In this well-written and accessible book, Toshiaki Tachibanaki analyzes the movement toward more income inequality in Japan and offers policy recommendations to counter the trend. Tachibanaki, Japan's leading expert on income distribution, draws on new statistical data covering wealth, inheritance, farm and business holdings, salary, and other relevant factors, to demonstrate that Japan can no longer be thought of as a "90 percent middle-class society." The book, updated and substantially expanded from Tachibanaki's 1998 Japanese bestseller, discusses the history and the causes of Japan's increasing income inequality and analyzes the effect on wealth distribution of intergenerational transfer. Employing cross-national comparisons to the United States and Europe throughout, Confronting Income Inequality in Japan examines the contrast between equality of opportunity and equality of outcome, evaluates equality of opportunity in terms of education and occupation, analyzes the relationship between income distribution and income growth, discusses the role of hierarchical positions in organizations, and considers the differences between welfare states and nonwelfare states. Concluding with policy recommendations, Tachibanaki argues against the belief of some economists that greater inequality is unavoidable if Japan is to achieve a strong economic recovery.},
  keywords = {Cross-National Comparisons,Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes,Intergenerational Wealth,Methods of Estimation of Wealth Inequality,Trends in Aggregate Wealth and Wealth Inequality},
  address = {Cambridge, MA},
  isbn = {0-262-20158-5}
}

2004 (2)

Do Estate and Gift Taxes Affect the Timing of Private Transfers? Bernheim, B.Douglas; Lemke, Robert J.; and Scholz, John Karl. Journal of Public Economics, 88(12): 2617–2634. 2004.

link doi

@article{Bernheimetal2004,
  title = {Do Estate and Gift Taxes Affect the Timing of Private Transfers?},
  author = {Bernheim, B.Douglas and Lemke, Robert J. and Scholz, John Karl},
  year = {2004},
  journal = {Journal of Public Economics},
  volume = {88},
  number = {12},
  pages = {2617--2634},
  doi = {10.1016/j.jpubeco.2003.11.004},
  url = {http://doi.org/10.1016/j.jpubeco.2003.11.004},
  abstract = {Proposals to alter the estate tax are contentious and have been considered largely in an empirical vacuum. This paper examines time series and cross-sectional variation to identify the effects of estate and gift taxation on the timing of private transfers. The analysis is based on data from the 1989, 1992, 1995, 1998, and 2001 Surveys of Consumer Finances. Legislative activity during this period reduced the tax disadvantage of bequests relative to gifts. Moreover, the magnitude of this reduction differed systematically across identifiable household categories. We find that households experiencing larger declines in the expected tax disadvantages of bequests reduced inter vivos transfers relative to households experiencing small declines in the tax disadvantages of bequests. This finding is consistent with the hypothesis that the timing of transfers is responsive to applicable gift and estate tax rates. The results also provide evidence of a systematic bequest motive for high-wealth households.},
  keywords = {Estate Inheritance and Gift Taxes}
}

Inheritance and Gifts in Germany: The Growing Fiscal Importance of Inheritance Tax for the Federal States. Schupp, Jürgen; and Szydlik, Marc. DIW Berlin, pp. 95–102. 2004.

link file

@techreport{SchuppSzydlik2004,
  title = {Inheritance and Gifts in {{Germany}}: The Growing Fiscal Importance of Inheritance Tax for the Federal States},
  author = {Schupp, J{\"u}rgen and Szydlik, Marc},
  year = {2004},
  number = {3/2004},
  pages = {95--102},
  institution = {DIW Berlin},
  url = {https://www.diw.de/de/diw_01.c.448105.de/publikationen/sonstige_publikationen/2004/inheritance_and_gifts_in_germany__the_growing_fiscal_importance_of_inheritance_tax_for_the_federal_states.html},
  urldate = {2024-05-30},
  abstract = {In the current debate on the fundamental modernisation of income tax it is often forgotten that inheritance tax has also long been on the reform agenda. The present undervaluation of real estate and commercial assets is an infringement of the principle of equal and uniform taxation. At its present volume of around 3 billion euros inheritance tax only accounts for less than 1\% of total tax revenues in Germany, but the trend is upward. The data from the Socio-Economic Panel (SOEP) compiled by DIW Berlin in conjunction with Infratest Sozialforschung now makes it possible to give estimates of the annual volume of inherited assets in a breakdown by socio-demographic factors. According to the SOEP estimates, around 1.5\% of all private households in Germany currently have an annual increase in assets of on average 65 000 euros from inheritance. Just under a further one percent of all households receive annual gifts of on average 30 000 euros. These transfers amount to income to private households of about 50 billion euros annually, which is more than 2\% of GDP.},
  keywords = {Data Sources: Taxes on Wealth,Estate Inheritance and Gift Taxes},
  type = {{{DIW Weekly Report}}},
  url_file = {SchuppSzydlik2004.pdf}
}

2003 (1)

Income Inequality in the United States, 1913–1998. Piketty, Thomas; and Saez, Emmanuel. The Quarterly Journal of Economics, 118(1): 1–41. February 2003.

link doi

@article{PikettySaez2003,
  title = {Income Inequality in the United States, 1913--1998},
  author = {Piketty, Thomas and Saez, Emmanuel},
  year = {2003},
  month = {feb},
  journal = {The Quarterly Journal of Economics},
  volume = {118},
  number = {1},
  pages = {1--41},
  doi = {10.1162/00335530360535135},
  url = {https://doi.org/10.1162/00335530360535135},
  abstract = {This paper presents new homogeneous series on top shares of income and wages from 1913 to 1998 in the United States using individual tax returns data. Top income and wages shares display a U-shaped pattern over the century. Our series suggest that the large shocks that capital owners experienced during the Great Depression and World War II have had a permanent effect on top capital incomes. We argue that steep progressive income and estate taxation may have prevented large fortunes from fully recovering from these shocks. Top wage shares were flat before World War II, dropped precipitously during the war, and did not start to recover before the late 1960s but are now higher than before World War II. As a result, the working rich have replaced the rentiers at the top of the income distribution.},
  keywords = {Estate Inheritance and Gift Taxes}
}

2001 (1)

Noncompliance with the Federal Estate Tax. Eller, Martha Britton; Erard, Brian; and Ho, Chih-Chin. Rethinking Estate and Gift Taxation, pp. 375–421. 2001.

link

@incollection{Elleretal2001,
  title = {Noncompliance with the Federal Estate Tax},
  author = {Eller, Martha Britton and Erard, Brian and Ho, Chih-Chin},
  year = {2001},
  booktitle = {Rethinking Estate and Gift Taxation},
  pages = {375--421},
  publisher = {Brookings Institution Press},
  url = {https://www.brookings.edu/book/rethinking-estate-and-gift-taxation/},
  abstract = {The federal estate tax is levied on the fortunes of America's wealthiest decedents. With average tax burdens in the hundreds of thousands of dollars and marginal rates as high as 60 percent, the tax creates powerful incentives for legal avoidance and evasion. In this chapter, we provide an empirical analysis of the magnitude and determinants of noncompliance with the federal estate tax.},
  keywords = {Estate Inheritance and Gift Taxes},
  address = {Washington, D.C.},
  chapter = {Ch. 9},
  editor = {Gale, William G. and Hines, Jr., James R. and Slemrod, Joel},
  isbn = {978-0-8157-1986-1}
}

1991 (1)

The Taxation of Wealth in the EEC: Facts and Trends. Kessler, Denis; and Pestieau, Pierre. Canadian Public Policy, 17(3): 309–321. September 1991.

link doi

@article{KesslerPestieau1991,
  title = {The Taxation of Wealth in the {{EEC}}: Facts and Trends},
  author = {Kessler, Denis and Pestieau, Pierre},
  year = {1991},
  month = {sep},
  journal = {Canadian Public Policy},
  volume = {17},
  number = {3},
  pages = {309--321},
  doi = {10.2307/3551638},
  url = {http://doi.org/10.2307/3551638},
  abstract = {This paper describes and discusses the taxation of wealth in the European community countries with particular emphasis on net wealth taxes and wealth transfer taxes at death. The main finding is that the contribution of these taxes to total tax revenue is minute and their effect on wealth distribution is negligible. To characterize and quantify the process of the erosion of the tax base and its inability to redistribute wealth, we use the example of France extensively.},
  keywords = {Data Sources: Taxes on Wealth,Estate Inheritance and Gift Taxes}
}

1980 (1)

Taxing Wealth Inequalities. Pond, C.; Burghes, L.; and Smith, B. Fabian Society. January 1980.

link

@book{Pondetal1980,
  title = {Taxing Wealth Inequalities},
  author = {Pond, C. and Burghes, L. and Smith, B.},
  year = {1980},
  month = {jan},
  number = {466},
  publisher = {Fabian Society},
  url = {https://digital.library.lse.ac.uk/objects/lse:dir903zoz},
  urldate = {2022-02-02},
  keywords = {Cross-National Comparisons,Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes,Intergenerational Wealth,Wealth Taxation},
  isbn = {978-0-7163-0466-1},
  series = {Fabian {{Tract}}}
}

1972 (1)

Unequal Shares: Wealth in Britain. Atkinson, A. B. Allen Lane. 1972.

link

@book{Atkinson1972,
  title = {Unequal Shares: Wealth in {{Britain}}},
  author = {Atkinson, A. B.},
  year = {1972},
  publisher = {Allen Lane},
  url = {https://archive.org/details/unequalshareswea0000atki},
  keywords = {Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes,Intergenerational Wealth,Methods of Estimation of Wealth Inequality,Trends in Aggregate Wealth and Wealth Inequality,Wealth Taxation},
  address = {London},
  isbn = {0-7139-0281-7}
}

1971 (1)

Capital Taxes, the Redistribution of Wealth and Individual Savings. Atkinson, A. B. The Review of Economic Studies, 38(2): 209–227. 1971.

link doi

@article{Atkinson1971,
  title = {Capital Taxes, the Redistribution of Wealth and Individual Savings},
  author = {Atkinson, A. B.},
  year = {1971},
  journal = {The Review of Economic Studies},
  volume = {38},
  number = {2},
  pages = {209--227},
  publisher = {Oxford University Press},
  doi = {10.2307/2296780},
  url = {https://doi.org/10.2307/2296780},
  keywords = {Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes,Wealth Taxation}
}

1939 (1)

The Economics of Inheritance. Wedgwood, Josiah. Penguin Books. 1939.

@book{Wedgwood1939,
  title = {The Economics of Inheritance},
  author = {Wedgwood, Josiah},
  year = {1939},
  publisher = {Penguin Books},
  abstract = {With a new introduction by the author},
  keywords = {Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes,Impacts of Wealth Inequality,Intergenerational Wealth},
  edition = {2nd Editio}
}

1929 (1)

The Economics of Inheritance. Wedgwood, Josiah. Routledge & Sons. 1929.

link

@book{Wedgwood1929,
  title = {The Economics of Inheritance},
  author = {Wedgwood, Josiah},
  year = {1929},
  publisher = {Routledge \& Sons},
  url = {https://archive.org/details/economicsofinher035213mbp/page/n1/mode/2up},
  keywords = {Determinants of Wealth and Wealth Inequality,Estate Inheritance and Gift Taxes,Impacts of Wealth Inequality,Intergenerational Wealth}
}

1905 (1)

The Inheritance Tax in the American Commonwealths. Millis, H. A. The Quarterly Journal of Economics, 19(2): 288–308. February 1905.

link file

@article{Millis1905,
  title = {The Inheritance Tax in the {{American}} Commonwealths},
  author = {Millis, H. A.},
  year = {1905},
  month = {feb},
  journal = {The Quarterly Journal of Economics},
  volume = {19},
  number = {2},
  pages = {288--308},
  url = {https://www.jstor.org/stable/1882866},
  urldate = {2023-06-01},
  keywords = {Data Sources: Taxes on Wealth,Cross-National Comparisons,Estate Inheritance and Gift Taxes},
  eprint = {1882866},
  eprinttype = {jstor},
  url_file = {Millis1905.pdf}
}