Optimal Taxation of Bequests in a Model with Initial Wealth*
研究了在父母因利他动机留下遗产的模型中，由于个体在赚钱能力和初始财富上都有差异，遗产税（相当于对所有支出统一征税）如何产生再分配动机，以及引入遗产税对社会福利的影响取决于利他外部效应是否被纳入社会目标。
Abstract We formulate an optimal‐taxation model where parents leave bequests to their descendants for altruistic reasons. In contrast to the standard model, individuals differ not only in earning abilities, but also in initial (inherited) wealth. In this model, a redistributive motive for an inheritance tax – which is equivalent to a uniform tax on all expenditures – arises, given that initial wealth increases with earning abilities. The introduction of the inheritance tax either increases intertemporal social welfare or has an ambiguous effect, depending on whether the external effect related to altruism is accounted for in the social objective.