Inheritance and Stockholding: The Role of Expectations

This paper uses data from the Health and Retirement Study to investigate the role of inheritances for stockholding. Individual heir fixed-effects estimates show that an inheritance receipt increases subsequent stock market participation. The respective magnitude of this shift is higher for large and...

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Veröffentlicht in:	Jahrbuch für Wirtschaftswissenschaften 2021-04, Vol.72 (1), p.1-28
Hauptverfasser:	Luik, Marc-André, Salland, Jan
Format:	Artikel
Sprache:	eng
Schlagworte:	Bequests Capital gains Capital stock D14 D31 Economic inequality Economic welfare expectations G11 Heterogeneity Households Inheritance Inheritance and succession Intergenerational transmission investor behavior Ownership Participation portfolio choice Retirement Securities markets Socioeconomic factors Socioeconomic status Stock exchanges Taxation Wealth
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