000165265 001__ 165265 000165265 005__ 20251219174252.0 000165265 0247_ $$2doi$$a10.1111/roiw.70044 000165265 0248_ $$2sideral$$a146711 000165265 037__ $$aART-2025-146711 000165265 041__ $$aeng 000165265 100__ $$0(orcid)0000-0003-1081-4107$$aBelloc, Ignacio$$uUniversidad de Zaragoza 000165265 245__ $$aHow Inheritance Expectations Impact Household Savings 000165265 260__ $$c2025 000165265 5060_ $$aAccess copy available to the general public$$fUnrestricted 000165265 5203_ $$aThis article examines how expecting to receive an inheritance impacts household savings. Life-cycle consumption models indicate that the expectation of inheriting should reduce current savings for forward-thinking consumers. We investigate this economic prediction, considering factors such as liquidity constraints and education. To do so, we use household fixed effects to account for time-invariant factors and exploit within-household variation over time by using the Japanese Panel Survey of Consumers (2003–2019), which provides individual-level information and overcomes endogeneity concerns commonly present in cross-sectional studies. Our findings reveal that households adjust their current savings in anticipation of receiving future inheritances. Specifically, men decrease their current savings by 5% if they expect to receive an inheritance in the future. Additionally, we find more pronounced changes among households with higher education and income levels. These findings inform inheritance fiscal policies, such as inheritance taxes, revealing that future inheritance expectations influence current savings decisions. 000165265 536__ $$9info:eu-repo/grantAgreement/ES/DGA/S32-23R$$9info:eu-repo/grantAgreement/ES/MCIU/FPU19-00527$$9info:eu-repo/grantAgreement/ES/MCIU/FPU20-03564$$9info:eu-repo/grantAgreement/ES/MCIU/PID2024-156465NB-I00 000165265 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc-nd$$uhttps://creativecommons.org/licenses/by-nc-nd/4.0/deed.es 000165265 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion 000165265 700__ $$0(orcid)0000-0002-9437-4606$$aMolina, José Alberto$$uUniversidad de Zaragoza 000165265 7102_ $$14000$$2415$$aUniversidad de Zaragoza$$bDpto. Análisis Económico$$cÁrea Fund. Análisis Económico 000165265 773__ $$g72, 1 (2025), e70044 [20 pp.]$$pRev. income wealth$$tREVIEW OF INCOME AND WEALTH$$x0034-6586 000165265 8564_ $$s385984$$uhttps://zaguan.unizar.es/record/165265/files/texto_completo.pdf$$yVersión publicada 000165265 8564_ $$s2368583$$uhttps://zaguan.unizar.es/record/165265/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada 000165265 909CO $$ooai:zaguan.unizar.es:165265$$particulos$$pdriver 000165265 951__ $$a2025-12-19-14:44:03 000165265 980__ $$aARTICLE