The effect of inter vivos gift taxation on wealth inequality and economic growth

Author:

Nakano Ryota1ORCID

Affiliation:

1. Graduate School of Economics The university of Osaka Toyonaka Osaka Japan

Abstract

AbstractThis study examines the effect of inter vivos gift taxation on wealth inequality and economic growth. We develop a simple model with inter vivos gifts, which are generated by altruism and gift taxation in an overlapping generation setting. The analysis shows that an increase in the gift tax rate reduces inequality, and a positive tax rate maximizes the economic growth rate. From a policy perspective, rather than exempting gifts from taxation, raising the gift tax rate to some extent reduces inequality and promotes human capital accumulation and, therefore, economic growth.

Funder

Japan Society for the Promotion of Science

Institute of Social and Economic Research, Memorial University of Newfoundland

Publisher

Wiley

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