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Inheritance taxation : redistribution and predistribution

Book Contribution - Chapter

It is well known that taxes on the transfer of wealth typically raise very little revenue. However, this does not mean that they are ineffective as tools for redistribution. In this paper we show how important such taxes can be in the long-run distribution of wealth, reducing equilibrium inequality (the “predistribution” effect) by a much larger amount than what is apparent in terms of the immediate impact of the tax (the “redistribution” effect).
Book: Inequality, taxation and intergenerational transmission
Series: Research on Economic Inequality
Pages: 1 - 13
ISBN:9781787564572
Publication year:2019
Accessibility:Closed