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Bequest Taxes and Accumulation of Household Wealth: U.S.-Japan Comparison

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  • Thomas A. Barthold
  • Takatoshi Ito

Abstract

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 magnitude of inter-generational transfers. The magnitude of intergenerational transfers provides aid intermining how much outstanding wealth is obtained through intergenerational transfers, an issue of current controversy. In both Japan and the United States, a substantial portion of wealth, and especially of land in Japan, is bequeathed from a generation to next.

Suggested Citation

  • Thomas A. Barthold & Takatoshi Ito, 1991. "Bequest Taxes and Accumulation of Household Wealth: U.S.-Japan Comparison," Discussion Paper Series a233, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:hituec:a233
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    References listed on IDEAS

    as
    1. Modigliani, Franco, 1988. "The Role of Intergenerational Transfers and Life Cycle Saving in the Accumulation of Wealth," Journal of Economic Perspectives, American Economic Association, vol. 2(2), pages 15-40, Spring.
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