Authors: Naomi Crowther and Louisa Roos
Institution: Stone Center Working Paper Series no. 124
Date: February 2026
Abstract:
Women rely on intra- and inter-generational transfers for wealth accumulation more than men, yet the role of inheritance in closing gender wealth gaps remains poorly understood. Using Swedish registry inheritance data from 2002–2004 combined with panel data on individual wealth portfolios and labor income from 1999–2007, we examine how wealth and income evolve upon inheriting. Inheritance leads to larger relative increases in women’s net wealth compared to men, however the difference disappears in the long term. Differences in portfolio composition as well as unequal inheritance of productive assets, in the form of business ownership, may play a role. We find evidence indicative of structural barriers to financial resource accumulation over the lifecycle rather than inherent gender differences in investment preferences. The disparity in wealth accumulation post-inheritance is reinforced by gendered labor supply responses. Daughters reduce their paid labor supply more than sons, seemingly to provide unpaid eldercare. Given these findings, inheritance alone should not be viewed as an effective mechanism for reducing gender wealth inequality.
