Arbeitspapier

Intergenerational altruism and house prices: evidence from bequest tax reforms in Italy

We identify the degree of intergenerational altruism in an OLG framework à la Barro exploiting the quasi-experimental variation generated by reforms of bequest taxation (estate or inheritance tax, in the U.S.) and taxes on inter vivos real estate donations (gift tax, in the U.S.) that were enacted in Italy between 2000 and 2001. Employing a unique data set containing information on the housing stock and house prices in 13 large Italian cities between 1993 and 2004, we identify the structural parameter of interest via the effect of changes in the tax rate on house prices. We find that the intergenerational altruism parameter is about 20%. Given the possible anticipation of the reform this estimate should be interpreted as a lower bound.

Language
Englisch

Bibliographic citation
Series: Quaderni - Working Paper DSE ; No. 947

Classification
Wirtschaft
Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
Studies of Particular Policy Episodes
Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes

Event
Geistige Schöpfung
(who)
Bellettini, Giorgio
Taddei, Filippo
Zanella, Giulio
Event
Veröffentlichung
(who)
Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE)
(where)
Bologna
(when)
2014

DOI
doi:10.6092/unibo/amsacta/4026
Handle
Last update
10.03.2025, 11:42 AM CET

Data provider

This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.

Object type

  • Arbeitspapier

Associated

  • Bellettini, Giorgio
  • Taddei, Filippo
  • Zanella, Giulio
  • Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE)

Time of origin

  • 2014

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