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Cited by 736

The DOI matches its Crossref record.

The Role of Intergenerational Transfers in Aggregate Capital Accumulation

Open access
Kotlikoff, Laurence, Summers, Lawrence·1980·National Bureau of Economic Research
DOI 10.3386/w0445
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Abstract

This paper uses historical u.S. data to directly estimate the contribution of intergenerational transfers to aggregate capital accumulation.The evidence presented indicates that intergenerational transfers account for the vast majority of aggregate U.S. capital formation; only a negligible fraction of actual capital accumulation can be traced to life cycle or "hump" savings.~major difference between this study and previous investigations of this issue is the use of actual rather than hypothetical longitudinal age consumption profiles.These profiles are simply too flat to generate substantial life cycle savings.This paper suggests the importance of and need for substantially greater research and data collection on intergenerational transfers.Life~cle models of savings which emphasi-ze-sav4ngs.forr-e-t-kemen-t-as---the dominate form of capital accumulation sh()t11e.t__g:l,YIiLW~Y tomodelswhiGh--emp.has.betherather

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Metadata

Authors
Kotlikoff, L., & Summers, L.
Venue
National Bureau of Economic Research
Publisher
National Bureau of Economic Research
Published
1980-02
DOI
10.3386/w0445
OpenAlex
W2891970589
Cited by
736
References
0
Type
report
Language
en
Open access
green

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CoChat. (2026). Citation check: The Role of Intergenerational Transfers in Aggregate Capital Accumulation. https://app.cochat.ai/papers/10.3386/w0445
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Kotlikoff, L., & Summers, L. (1980). The Role of Intergenerational Transfers in Aggregate Capital Accumulation. National Bureau of Economic Research. https://doi.org/10.3386/w0445

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