Paula Gobbi, Marc Goñi, 28 April 2018

We know inheritance practices have an impact on inequality, social mobility, and economic growth, but the effect on fertility decisions has often been ignored even though such decisions can affect the economic impact of inheritance. This column uses data on the British aristocracy to provide evidence of the two-way link between inheritance and fertility decisions on the extensive margin. This allows us to understand modern inheritance practices, such as trusts, that restrict successors.

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