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Welfare Aspects of Estate and Gift Taxes in Life Cycle Economies
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dc.contributor.authorTroy Felver-
dc.contributor.author유재인-
dc.date.issued2023-07-
dc.identifier.issn0254-3737-
dc.identifier.urihttps://aurora.ajou.ac.kr/handle/2018.oak/35819-
dc.description.abstractWe study the welfare implications of lowering estate and gift taxes in an overlapping generations model, wherein heterogeneous agents face uncertain lifetimes and leave both accidental bequests and voluntary gifts to their children. According to the findings from the Survey of Consumer Finances, we consider inter vivos giving made by a working parent while receiving bequests from his parent(s). We conduct numerical experiments by changing tax rates and exemption levels in closed and small open economy settings. By adjusting unified tax rates, we discuss the theoretical implications of optimal gift and estate tax rates on improving aggregate capital stock and expected lifetime utility. The welfare gains from higher and broader tax rate changes are measurable and significant in a model with revenue neutrality using an alternative tax rule of capital gain taxes, thereby leading to the possibility that these taxes can effectively provide additional resources for the government to level up disadvantaged populations.-
dc.language.isoEng-
dc.publisher한국경제학회-
dc.titleWelfare Aspects of Estate and Gift Taxes in Life Cycle Economies-
dc.title.alternative생애 주기 경제 모형 기반 유산/증여세의 복지증진적 관점에 대한 연구-
dc.typeArticle-
dc.citation.endPage411-
dc.citation.number2-
dc.citation.startPage381-
dc.citation.titleThe Korean Economic Review-
dc.citation.volume39-
dc.identifier.bibliographicCitationThe Korean Economic Review, Vol.39 No.2, pp.381-411-
dc.identifier.doi10.22841/kerdoi.2023.39.2.003-
dc.subject.keywordInter Vivos Giving-
dc.subject.keywordEstate and Gift Tax-
dc.subject.keywordLife-Cycle Model-
dc.subject.keywordWelfare-
dc.subject.keywordGeneral Equilibrium-
dc.subject.keyword증여-
dc.subject.keyword유산/증여세-
dc.subject.keyword생애주기모형-
dc.subject.keyword복지-
dc.subject.keyword일반균형-
dc.type.otherArticle-
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Yoo, Jae-in유재인
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