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"In this paper, we examine the effect of observed and unobserved heterogeneity in the desire to die with positive net worth. Using a structural life-cycle model nested in a switching regression with unknown sample separation, we find that roughly 70 percent of the elderly single population has a bequest motive that may or may not be active depending on the level of resources at a given age. Both the presence and the magnitude of the bequest motive are statistically and economically significant. All else being equal, households with an operative bequest motive spend between $4,000 and $9,000 a year less on consumption expenditures on average. We conclude that, among the elderly single households in our sample, approximately half of bequeathed wealth will be due to a bequest motive"--Federal Reserve Board web site.
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To leave or not to leave: the distribution of bequest motives
2005, National Bureau of Economic Research
in English
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To leave or not to leave: the distribution of bequest motives
2004, Federal Reserve Board
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Book Details
Edition Notes
"November 2005."
NBER working paper series.
Includes bibliographical references (p. 34-36).
Also available in PDF from the NBER World Wide Web site (www.nber.org).
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- Created September 29, 2008
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December 15, 2009 | Edited by WorkBot | link works |
April 25, 2009 | Edited by ImportBot | add OCLC number |
September 29, 2008 | Created by ImportBot | Imported from Oregon Libraries MARC record. |