Dynamics of Intergenerational Transfers and Wealth Accumulation

Dynamics of Intergenerational Transfers and Wealth Accumulation | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Research Article Dynamics of Intergenerational Transfers and Wealth Accumulation Takuya Ishino, Michio Naoi, Miki Seko, Kazuto Sumita This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-8050621/v1 This work is licensed under a CC BY 4.0 License Status: Posted Version 1 posted You are reading this latest preprint version Abstract This study examines how intergenerational wealth transfers impact children’s wealth accumulation and theirintention to bequeath, focusing on the role of different types of transferable assets (housing and financial assets). The results indicate that households decrease their saving rate when they expect to receive housing assetsfrom their parents. By contrast, they increase saving rate when they expect to receive financial assets. This contrasting pattern is particularly salient among households with low asset holdings. For households with high asset holdings, the relationship between saving and wealth transfer expectations is observed for housing but not for financial assets. We also find that when children expect wealth transfer from their parents, they are more likely to bequeath the same type of assets that they expect to receive. In particular, when a child’s household desires to leave more assets to their descendants than they expect to receive from their parents, the expectation of financial asset transfers leads to an increased saving rate in the child’s household. We also discuss policy implications for wealth disparities across generations based on our empirical results. JEL classification codes: D14, D15, D64 intergenerational wealth transfers wealth accumulation housing assets financial assets bequest and gift intention Full Text Additional Declarations No competing interests reported. Cite Share Download PDF Status: Posted Version 1 posted You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. We do this by developing innovative software and high quality services for the global research community. Our growing team is made up of researchers and industry professionals working together to solve the most critical problems facing scientific publishing. Also discoverable on Platform About Our Team In Review Editorial Policies Advisory Board Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-8050621","acceptedTermsAndConditions":true,"allowDirectSubmit":true,"archivedVersions":[],"articleType":"Research Article","associatedPublications":[],"authors":[{"id":551300450,"identity":"44479994-e87a-45be-8f9e-1b24d739a825","order_by":0,"name":"Takuya 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