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What is Evolution of Inheritance in France 1820-2050 about?
This article documents the long-run evolution of inheritance in France from 1820 to 2050. It finds that the annual inheritance flow as a percentage of national income followed a U-shaped pattern, being around 20-25% in 1820-1910, falling below 5% in 1950, and rising back to around 15% by 2010. A simple theoretical model of wealth accumulation, growth, and inheritance can fully account for this pattern. The model predicts that under plausible assumptions, the inheritance flow may reach 20-25% of national inc
- Author
- Pieter Martens
- Language
- EN