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The impact of intergenerational transfers on wealth inequality in Japan and the United States

机译：日本和美国的代际转移对财富不平等的影响

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Our paper sheds light on the implications of intergenerational transfers for wealth inequality by examining whether or not individuals who receive intergenerational transfers from their parents are more likely to leave bequests to their children than those who do not using microdata for Japan and the United States. The estimation results show that the receipt of intergenerational transfers from parents and/or parents-in-law increases the likelihood of individuals leaving bequests to their children in both Japan and the United States, which in turn is likely to contribute to the persistence or widening of wealth disparities. However, such a tendency is found to be stronger among less better-off households in both countries, and this may help alleviate the disequalising effect of intergenerational transfers on the distribution of wealth, at least to some extent.
机译：我们的论文通过研究从父母那里获得代际转移的个人是否比在日本和美国未使用微数据的人更有可能将遗产留给子女，从而阐明了代际转移对财富不平等的影响。估计结果表明，在日本和美国，从父母和/或岳父母父母那里获得代际转移的可能性增加了将遗赠遗赠给子女的可能性，这反过来又可能有助于持久性或扩大性贫富悬殊。但是，在两个国家中，生活条件较差的家庭中这种趋势更为明显，这至少在一定程度上有助于减轻代际转移对财富分配的不均衡影响。

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