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dc.contributor.authorGan, Lien_US
dc.contributor.authorGong, Guanen_US
dc.contributor.authorHurd, Michaelen_US
dc.date.accessioned2010-05-14T11:08:36Z-
dc.date.available2010-05-14T11:08:36Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/31537-
dc.description.abstractWhen the age of death is uncertain, individuals will leave bequestseven if they have no desired bequestssimply because they will hold wealth against the possibility of living longer. Bequests are accidental. Starting from a baseline level of Social Security benefits, an increase in benefits will cause consumption to increase. However, consumption may not increase by as much as the increase in Social Security, which would cause wealth to be greater than under the baseline scenario. The higher wealth levels would translate into greater bequests. Therefore, an increase in Social Security benefits may not be a complete transfer from the younger generation to the older generation: some of the increase in benefits may be bequeathed back to the younger generation. Whether this happens depends on the form of the utility function, the amount of bequeathable wealth, and whether there is a bequest motive. The objective of this paper is to quantify for single persons how much of an increase in Social Security benefits would be bequeathed back to the younger generation. We find that, at least for singles, increases in Social Security benefits are unlikely to be offset by bequests.en_US
dc.language.isoengen_US
dc.publisherThe Levy Economics Inst. of Bard College Annandale-on-Hudson, NYen_US
dc.relation.ispartofseriesWorking papers // The Levy Economics Institute 482en_US
dc.subject.jelE21en_US
dc.subject.jelH55en_US
dc.subject.ddc330en_US
dc.subject.keywordBequestsen_US
dc.subject.keywordSocial Securityen_US
dc.titleNet intergenerational transfers from an increase in social security benefitsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn570233453en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Working Papers, Levy Economics Institute of Bard College

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