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Inheriting inequality: institutional influences on the distribution of wealth

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  • Alan Isaac

Abstract

This paper presents simulation results for the distribution of wealth. The object is to illustrate the importance of institutions for understanding intergenerational wealth dynamics and the asymptotic tendency of wealth inequality. The focal institutions are the family and the state. Familial institutions, particularly marriage, prove to be core determinants of wealth inequality. State tax and transfer policies also have important effects on wealth inequality. The result that reductions in the estate tax exclusion can substantially increase wealth inequality provides a context for current public policy debates.

Suggested Citation

  • Alan Isaac, 2007. "Inheriting inequality: institutional influences on the distribution of wealth," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(2), pages 187-203.
    • Handle: RePEc:mes:postke:v:30:y:2007:i:2:p:187-203
    DOI: 10.2753/PKE0160-3477300203
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    Cited by:

    1. Alan G. Isaac, 2019. "Exploring the Social-Architecture Model," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 45(4), pages 565-589, October.
    2. Hanna Karolina Szymborska, 2022. "Rethinking inequality in the 21st century – inequality and household balance sheet composition in financialized economies," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 45(1), pages 24-72, January.
    3. Alan G. Isaac, 2021. "Wealth Inequality and the Financial Accumulation Process," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 47(3), pages 430-448, June.
    4. Martino, Gaetano & Polinori, Paolo, 2010. "The individual contribution to income inequality: conceptual analysis and empirical investigation," MPRA Paper 34365, University Library of Munich, Germany.

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