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KMID : 1124020150310030093
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Korean Social Security Studies
2015 Volume.31 No. 3 p.93 ~ p.117
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Intergenerational Transfers And Their Impacts On Wealth Inequality: By Age And Income Groups
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Baek Ka-Hyeon
Hong Baeg-Eui
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Abstract
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The purpose of this study is to analyse the effect of intergenerational transfers, especially of bequest and inter-vivos, on wealth inequality. Using National Survey of Tax and Benefit, the effect on wealth inequality is investigated by calculating the current value of bequest and inter-vivos and Gini decomposition. As the result for the whole group, intergenerational transfers account for about 23% of wealth inequality. As for the analysis of age groups, the effect of bequest and inter-vivos is higher when the age group was younger, which implies that intergenerational transfers become more important in recent years and make a society more unequal in the future. As for the income group analysis, the effect of bequest and inter-vivos is higher at group 5(top 20%). Finally, several policy implications and limitations of this study are discussed.
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KEYWORD
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Wealth inequality, Intergenerational transfer, Bequest, Inter-vivos transfer, Gini decomposition
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