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Inside the forthcoming many years the industrialized nations will experience a demographic transition that is unprecedented in historic previous. Whereas the transition's impact on public pension schemes has extensively been examined, its implication for private intergenerational transfers has gone nearly unnoticed by the literature. This analysis makes an try to make up for that gap inside the literature. It offers an entire overview of private change patterns in Germany, extends the methodology of generational accounting to embrace private intergenerational transfers, and presents a computable primary equilibrium model that for the first time permits to analyze quite a few bequest motives in a unified framework.
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