2012 Fiscal Year Final Research Report
An empirical analysis of the effect of the gift tax and the mortgageburden on intergenerational transfe
Project/Area Number |
23730230
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Research Category |
Grant-in-Aid for Young Scientists (B)
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Allocation Type | Multi-year Fund |
Research Field |
Applied economics
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Research Institution | University of Toyama |
Principal Investigator |
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Project Period (FY) |
2011 – 2012
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Keywords | 生前贈与 / 贈与動機 / 住宅ローン / 贈与税 |
Research Abstract |
Children may receive monetary transfers from their parents to realize the dream of homeownership. This raises the question of whether transfers received decrease if governments also provide a homeownership-related subsidy. The purpose of this paper is to empirically examine this question, using a sample of the Japanese home-buying households that are subsidized by a mortgage tax deduction (MTD) and a gift tax cut. In the empirical stage, we offer a test of the effect of the homeownership-related subsidieson both the extensive (the probability of receiving transfers) and the intensive (the amount of transfers received) margins. The empirical results appear to indicate that the MTD has a tendency to crowd out transfers on both the extensive and the intensive margins,while the gift tax cut lead to the opposite result
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