The new classical macroeconomics analyzes macro phenomena under the twin disciplines
of rational behavior and cleared markets. The use of rational expectations has often been …

Inheritances are often regarded as a societal" evil," enabling great fortunes to be passed
from one generation to another, thus exacerbating wealth inequality and reducing wealth …

Saving has always been an important issue in economics. It plays a central role in income
determination, both in the short run through aggregate demand and in the long run through …

Research into sculture and entrepreneurship in Britain has been dominated by casual
empiricism. This article shows the benefits of using a new method. Lifetime wealth …

When farm income is first increasing and then decreasing in the operator's age, the timing of
farm transferal from parent to child is optimally determined by families who seek to maximize …

Occupy the Tax Code: Using the Estate Tax to Reduce Inequality and Spur Economic Growth
Page 1 Occupy the Tax Code: Using the Estate Tax to Reduce Inequality and Spur Economic …

Much attention has been given to rising wealth inequality in recent decades. However,
understanding inequality requires an understanding of how wealth relates to the potential …

Insights from economics and the economic analysis of law may be useful in analyzing
succession law, including intestacy and wills as well as nonprobate transfers such as trusts …

The paper empirically investigates the saving consequence of population aging, an issue
that is important for policymaking and still far from uncontroversial. Rather than providing …

The objective of this paper is two-fold. First, we describe and compare the gift and bequest
(estate) tax systems in the United States and Japan. Second, we use tax data to estimate the …