DP Number DP2020-005

Language 日本語のみ

Date September, 2020

Author Takuya Ishino, Michio Naoi, Miki Seko, Kazuto Sumita

JEL Classification codes D14; D15; D64

Keywords intergenerational transfers; bequest and gift intention; wealth accumulation;saving; housing wealth

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Abstract

This paper examines the impact of anticipated wealth transfers on recipients’ wealth accumulation behavior. Our empirical analysis based on the doubly robust, augmented inverse probability weighting estimator shows that anticipated financial wealth transfers from parents would encourage children to save more. Anticipated transfers can also enhance children’s motivations to leave their wealth to their own offspring. Households with anticipated transfers from parents tend to have stronger intentions to leave their wealth to offspring and thereby accumulate more wealth to meet their needs for gifts and bequests.