consumer economics theory, social security, public pensions

Publication date: 27 Oct 2006 | Publication type: National Institute Economic Review | External authors: Jousten, A. | Journal: National Institute Economic Review No. 198
We generalise the standard joy-of-giving bequest motive by including inter vivos gifts. Within a life-cycle framework, we analyse the implications of the choice of different discount factors for the utility of gifts and bequests. For a linear utility of giving, we characterise the gift and bequest...