Inheritances, Intergenerational Transfers, and the Accumulation of Health
American Economic Review
vol. 103,
no. 3, May 2013
(pp. 451-55)
Abstract
This paper considers the mechanisms behind a positive correlation between inheritances and health. First, there may merely be a correlation: those from families with enough wealth to provide an inheritance tend to have better health. Second, financial resources could be used to purchase inputs to health. Third, bequests may signal a stronger interest in one's child. This reminder to the child could improve their emotional well-being. On average, the positive correlation suggests merely correlation. However, among subsets of the population, particularly men and those expecting to receive an inheritance, there is a causal relationship likely driven by the third mechanism.Citation
Carman, Katherine Grace. 2013. "Inheritances, Intergenerational Transfers, and the Accumulation of Health." American Economic Review, 103 (3): 451-55. DOI: 10.1257/aer.103.3.451Additional Materials
JEL Classification
- D14 Personal Finance
- D64 Altruism; Philanthropy
- I10 Health: General
- I31 General Welfare