Intergenerational Disagreement and Optimal Taxation of Parental Transfers
研究了在利他父母与子女对跨期权衡存在分歧的模型中，遗产和生前转移支付的最优税收问题，发现自由放任均衡是帕累托低效的，最优政策应对父母转移支付征税。
We study optimal taxation of bequests and inter vivos transfers in a model where altruistic parents and their offspring disagree on intertemporal trade-offs. We show that the laissez-faire equilibrium is Pareto inefficient, and whenever offspring are impatient from their parents’ perspective, optimal policy involves a positive tax on parental transfers. Cautioned by the technical complications present in this class of models, our normative prescriptions do not rely on the assumption of differentiability of the agents’ policy functions.