Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
For the first time, we exploit quasi-experimental variation to investigate the impact of inheritance taxation on wealth accumulation. Using bunching and difference-in-differences methods, we directly estimate several behavioral responses during lifetime, rather than relying solely on observations at death. Our empirical findings shed new light upon wealth accumulation and bequest motives. Taken together, the small responses to inheritance tax estimated cannot be supported by the desire to retain control over wealth.