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Please use this identifier to cite or link to this item: http://arks.princeton.edu/ark:/88435/dsp01nc580m66w
Title: The Carnegie Conjecture: Some Empirical Evidence
Authors: Holtz-Eakin, Douglas
Joulfaian, David
Rosen, Harvey
Keywords: inheritance
estate
labor supply
Issue Date: 1-Mar-1992
Citation: The Quarterly Journal of Economics, May 1993
Series/Report no.: Working Papers (Princeton University. Industrial Relations Section) ; 302
Abstract: This paper examines tax return-generated data on the labor force behavior of people before and after they receive inheritances. The results are consistent with Andrew Camegie’s century-old assertion that large inheritances decrease a person's labor force participation. For example, a single person who receives an inheritance of about $150,000 is roughly four times more likely to leave the labor force than a person with an inheritance below $25,000. Additional, albeit weaker, evidence suggests that large inheritances depress labor supply, even when participation is unaltered.
URI: http://arks.princeton.edu/ark:/88435/dsp01nc580m66w
Related resource: http://links.jstor.org/sici?sici=0033-5533%28199305%29108%3A2%3C413%3ATCCSEE%3E2.0.CO%3B2-Z
Appears in Collections:IRS Working Papers

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