Inheritance flows in Switzerland, 1911-2011.

Abstract

We estimate the size of inheritance flows in Switzerland over a long span of data, in close analogy to the study for France by Piketty (Q J Econ 126(3):1071-1131, 2011). We find that inheritance flows had been growing more slowly than national income up until the 1970s, but have been outpacing income growth since. According to our central estimates, the annual flow of inheritance amounted to 13.2% of national income in 2011. The share of total wealth that is attributable to inheritance has remained relatively stable over time, fluctuating between 45 and 60%.