“Wealth inequality, intergenerational transfers and socioeconomic background” INET Oxford Working, Oxford Economic Papers, June 2020, Paper No. 2020-15
This paper estimates the contribution of intergenerational transfers (inheritances and gifts) and socioeconomic background to wealth inequality in France, Spain, Great Britain and the United States. When interactions between the two factors are accounted for, the net contribution of inheritances and gifts is between 23% and 30%, while the net contribution of family background lies between 4% and 11%. These values are substantial and reveal that the importance of intergenerational transfers in wealth inequality.