{"title":"The effect of inter vivos gift taxation on wealth inequality and economic growth","authors":"Ryota Nakano","doi":"10.1111/sjpe.12401","DOIUrl":null,"url":null,"abstract":"This 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.","PeriodicalId":47171,"journal":{"name":"Scottish Journal of Political Economy","volume":"9 1","pages":""},"PeriodicalIF":0.9000,"publicationDate":"2024-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Scottish Journal of Political Economy","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1111/sjpe.12401","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
This 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.
期刊介绍：
The Scottish Journal of Political Economy is a generalist journal with an explicitly international reach in both readership and authorship. It is dedicated to publishing the highest quality research in any field of economics, without prejudice to the methodology or to the analytical techniques used. The editors encourage submissions in all fields of economics in order to provide practical contributions to the literature, and to further the influence of economics in the world of practical affairs.
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