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The Carnegie Conjecture: Some Empirical Evidence / Douglas Holtz-Eakin, David Joulfaian, Harvey S. Rosen.
- Format:
- Book
- Author/Creator:
- Holtz-Eakin, Douglas.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w4118.
- NBER working paper series no. w4118
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- The Carnegie Conjecture
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1992.
- Summary:
- 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 Carnegie's century-old assertion that large inheritances decrease a person's labor force participation. For example, a single person who receives an inheritance of over $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.
- Notes:
- July 1992.
- Print version record
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