We estimate the effect of taxes on intergenerational transfers exploiting a sequence of Italian reforms culminating with the abolishment of transfer taxes. We use the 1993-2006 Survey of Household Income and Wealth, which has data on real estate transfers received and information on potential donors as well as recipients. Differences-in-differences estimates indicate that the abolition of transfer taxes increased the probability that high-wealth donors make a transfer by 2 percentage points and square meters transferred by 9.3 meters relative to poorer donors.
Do transfer taxes reduce intergenerational transfers? / T. Jappelli, M. Padula, G. Pica. - In: JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION. - ISSN 1542-4766. - 12:1(2014 Feb), pp. 248-275. [10.1111/jeea.12044]
Do transfer taxes reduce intergenerational transfers?
G. Pica
2014
Abstract
We estimate the effect of taxes on intergenerational transfers exploiting a sequence of Italian reforms culminating with the abolishment of transfer taxes. We use the 1993-2006 Survey of Household Income and Wealth, which has data on real estate transfers received and information on potential donors as well as recipients. Differences-in-differences estimates indicate that the abolition of transfer taxes increased the probability that high-wealth donors make a transfer by 2 percentage points and square meters transferred by 9.3 meters relative to poorer donors.
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