| Title | Leaving Bequests: By Accident or by Design? |
| Publication Type | Book Chapter |
| Year of Publication | 2003 |
| Authors | Hurd, MD |
| Editor | Munnell, AH, Sundén, A |
| Book Title | Death and Dollars: The role of gifts and bequests in America |
| Chapter | 4 |
| Pagination | 93-129 |
| Publisher | The Brookings Institution Press |
| City | Washington, DC |
| Keywords | Adult children |
| Abstract | The life-cycle model of consumption is the standard model for the analysis of consumption and saving over the life cycle.¹ The model specifies that people save during their working lives, and then consume their savings in retirement. The claim that a large fraction of household wealth is the result of inheritances has stimulated substantial interest in a bequest motive for saving. While large bequests are not necessarily at odds with simple life-cycle saving, they could also indicate that people are actively saving in order to make such transfers. |
| Notes | ProCite field 8 : eds |
| DOI | 10.7864/j.ctvb9380x |
| Endnote Keywords | Bequests/Bequest Motives |
| Endnote ID | 15110 |
| Citation Key | 5205 |
