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Research ArticleArticle

Heterogeneity of the Carnegie Effect

Erlend E. Bø, Elin Halvorsen and Thor O. Thoresen
Journal of Human Resources, July 2019, 54 (3) 726-759; DOI: https://doi.org/10.3368/jhr.54.3.0915.7366R1
Erlend E. Bø
Erlend Eide Bø is a Researcher at Statistics Norway. Elin Halvorsen is a Researcher at Statistics Norway. Thor Olav Thoresen is a Researcher at Statistics Norway and at Oslo Fiscal Studies (Department of Economics, University of Oslo).
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Elin Halvorsen
Erlend Eide Bø is a Researcher at Statistics Norway. Elin Halvorsen is a Researcher at Statistics Norway. Thor Olav Thoresen is a Researcher at Statistics Norway and at Oslo Fiscal Studies (Department of Economics, University of Oslo).
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  • For correspondence: [email protected]
Thor O. Thoresen
Erlend Eide Bø is a Researcher at Statistics Norway. Elin Halvorsen is a Researcher at Statistics Norway. Thor Olav Thoresen is a Researcher at Statistics Norway and at Oslo Fiscal Studies (Department of Economics, University of Oslo).
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Abstract

The Carnegie effect is the harm inherited wealth does to a recipient’s work effort. Carnegie effect estimates are few, reflecting that such effects are hard to trace. Most previous studies rely on data from limited-size surveys. We use information from administrative data covering the entire Norwegian population, enabling an examination of the heterogeneity of the Carnegie effect. Estimation results show significant reductions in labor supply for recipients of large inheritances. We find that Carnegie effects differ according to transfer size, the recipient’s age and eligibility for other transfer programs, and the existence of new heirs in the family chain.

JEL Classification
  • D10
  • D80
  • D91
  • J22
  • Received September 2015.
  • Accepted November 2017.
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Journal of Human Resources: 54 (3)
Journal of Human Resources
Vol. 54, Issue 3
1 Jul 2019
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Heterogeneity of the Carnegie Effect
Erlend E. Bø, Elin Halvorsen, Thor O. Thoresen
Journal of Human Resources Jul 2019, 54 (3) 726-759; DOI: 10.3368/jhr.54.3.0915.7366R1

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Heterogeneity of the Carnegie Effect
Erlend E. Bø, Elin Halvorsen, Thor O. Thoresen
Journal of Human Resources Jul 2019, 54 (3) 726-759; DOI: 10.3368/jhr.54.3.0915.7366R1
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  • Article
    • Abstract
    • I. Introduction
    • II. Carnegie Magnitudes
    • III. Empirical Framework
    • IV. Size and Nonlinearity of the Carnegie Effect
    • V. Further Response Heterogeneity
    • VI. Robustness Checks
    • VII. Summary
    • Footnotes
    • References
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Keywords

  • D10
  • D80
  • D91
  • J22
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