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On the Long-run Evolution of Inheritance France 1900-2050Thomas PikettyParis School of EconomicsSeptember2009•There are two ways to become rich: either through one’s own work, or through inheritance•In the 19th century and early20th, it was obvious to everybody that the 2nd channel was important: inheritance and successors are everywhere in the literature, huge inheritance flow•Q: Does this belong to the past? Did modern growth kill the inheritance channel? E.g. rise of human capital and meritocracy?•This paper answers«NO»to this question and attempts to explains why, taking France 1900-2050 as an illustration: capital is back!What this paper does•Documents and explains this fact •Develops a simple simulation model reproducing this fact•Applies the model to 2010-2050: we predict B/Y returns to 1900 level •Applications to bequest wealth, lifetime inequality, and capital taxationApplication n°1: Modigliani-Summers controversy •Modigliani AER 1986, JEP 1988: inheritance= 20% of total U.S. wealth accumulation •Kotlikoff-Summers JPE 1981, JEP 1988: inheritance= 80% of total U.S. wealth accumulation•Two problems: -Bad data-We do not live in a stationary world: life-cycle wealth was much more important in the 1950s-1970s than it is todayApplication n°2: lifetimeinequality, labor vs capital•Top incomes literature: Piketty JPE 2003, Piketty-Saez QJE 2003, Atkinson-Piketty OUP 2007 & 2010 →23 countries.. but too descriptive, pb with capital side•Piketty-Postel-Vinay-Rosenthal AER 2006,«Wealth concentration in Paris 1807-1902»→This paper= aggregate analysis, but building block for future work with heterogenity and inequalityApplication n°3: socially-optimalcapital taxation •Economists have a pb with capital taxation: standard theory= optimal tax rate on all forms of capital and capital income= 0%•Very strong result: 0% capital tax rates are socially optimal for everybody, including for individuals and dynasties with zero wealth!…But nobody seems to take it seriously: nobody pushes for a complete suppression of corporate tax, property tax, estate tax, etc., i.e.9.4% GDP tax revenue (EU25, Eurostat 2008)•Atkinson-Stiglitz JPubE1976: if wealth was entirery life-cycle, no reason to tax capital •I.e. differential commodity taxation is useless, redistributive labor taxation is sufficient: if 1+r = relative price of period1 vs 2 consumption, no reason to overtaxC2=(1+r)(YL-C1), just tax YLwith t(YL)•«If inequality is entirely labor-income-drivent, no need to tax capital»= very intuitive and compelling argument for 0% capital tax•…except that life-cycle wealth plays a much less important role that what many economists tend to believe•if bequest wealth is important, then the normative analysis is more complicated→This paper= positive analysis, no normative model; but building block for future work on optimal capital taxationData sources•Estate tax data: tabulations by estate& age brackets1902-1964; micro-files 1977-1984-1987-1994-2000-2006 (DMTG)•National wealth and income accounts: Insee official series1949-2009; linked up with various series1900-1949 (Dugé, Colson, Divisia, Villa,.)•Wealth surveys: Insee 1992-1998-2004•French estate tax data is exceptionally good: universal, fully integrated bequest and gift tax since1791•Tax exempt assets: 15% in 1900s, 30%-35% in 2000s (life-insurance, unincorp.business& family firms,.)•350,000 estate tax returns/year in 1900s and 2000s, i.e. 65% of the 500,000 decedents(in 2000s, 20% of decedents pay tax, mostly people with no children; average tax rate <5%;top rate 40%-60%)Bt /Yt= µtmtWt/Yt▪Wt /Yt= aggregate wealth/income ratio▪mt= aggregate mortality rate▪µt = ratio between average wealth ofdecedents and average wealth of the living (= age-wealth profile)→The U-shaped pattern of inheritance is the product of three U-shaped effectsComputing inheritance flow•1900s: Y = 30-35 billions francs or, W = 250 billions, B = 7.5-8.5 billions→W/Y = 700%, B/Y = 25%•2009: Y = 1 500 billions €(i.e. 25 000€per capita), W = 9 000 billions €(150 000€per capita), B = 230 billions €→W/Y = 600%, B/Y = 15%•Between1900s and 1950s, W/Y divided by 2.5-3, B/Y divided by 5-6 →the fall in W/Y explains about half of the fall in B/YHow can we accountfor these facts?•WW1 & 2 capital shocks played a major role, and it took a long time to recover •Key question: why does the age-wealth profile become upward-sloping again? Clearly people don’t annuitize•Key parameter: r > g or r < g ?•r > g implies that old wealth matters a lot and upward-sloping profiles (for given savings behavior)Simulations•The observed dynamics of the age-wealth profile can be reproduced almost perfectly with a simple model based upon uniform savings rate across agegroups, given observed rt and gt•I start from the observed age-wealth profile Wt(a) in 1900•I take Yt = YLt+ YKtfrom national accounts,and define rt = YKt/Wt•I take st = St/Ytfrom national accounts, andassume uniform savings rates•The transition equation for a given cohort is simply:Wt+1(a+1) = Wt(a) + st[ YLt(a) + rtWt(a) ]•I apply observed mortality rates by age group, and observed age structure of heirs, donors and donees•1900-1913: r=4.1%, g=1.4%(W/Y=700%, α=28.5%, s=10.2%) •1948-1978: r=4.9%, g=5.2%(W/Y=278%, α=13.5%, s=13.7%) •1978-2008: r=4.2%, g=1.8%(W/Y=422%, α=17.9%, s=11.1%) (exc. capital gains: 1978-2008: 2.1% above CPI; 78-98 : 0.2%; 98-08 : 7.1%)•Simulations 2010-2050: r=4.0%, g=2.0% (W/Y=600%, α=24%, s=12%)Some theory•Why is B/Y around20%-25% a magic/W? number? What does it imply for WB•To simplify: deterministic demographic structure: everybody becomes adult at age A, has a kid at age P, inherits at age I, and dies at age D•1900: A=20, P=30, D=60 →I=D-H=30•2050: A=20, P=30, D=80 →I=D-H=50(20+) = 1/(D-A)•mortality rate: mt(1900: about 2.5%; 2050: about 1.5%)•Y t = F(K t , H t ) = F(K t , exp(gt)L t )•g = exogenous productivity growth rate •E.g. Cobb-Douglas: F(K,H) = K αH 1-α•Y t = Y Kt + Y Lt , with Y Kt = r t K t = αt Y t •Define βt = K t /Y t = capital/output ratio (= W t /Y t ) (closed economy, no govt)•Then αt =r t βt•E.g. if βt = 600%, r t = 4%, then αt =24%•Assume St = sYt= sKYKt+ sLYLt→Harrod-Domar steady-state: sY= gKi.e. β* = s/g (and r* = α/β*)e.g. if g=2%, s=10%, thenβ* = 500% •Dynastic model: U = ∫exp(-θt) C t1-σ/(1-σ)→Ramsey steady-state: r* = θ+ σg•In effect: sL *=0%, sK=g/r*%•Intuition: YLt grows at rate g, workersdon’t need to save; but capitalists needto save a fraction g/r% of YKt = rtWt, sothat Wtgrows at rate g•What about b t = B t /Y t = µt m t βt ?•If s L =0%, then the age-wealth profile W t (a) is very simple:-If a<I, then W t (a) = 0-If a ≥I,then W t (a) = W t (growing at rate g)→µ= 1/[(D-I)/(D-A)] = (D-A)/(D-I) > 100%(1900:µ=40/30=133%; 2050:µ=60/30=200%)→since m = 1/(D-A), b* = β*/(D-I)•I.e. if β*=600%, D-I=30, then b*=20%, irrespective of life expectancy D•More generally, take any sL , sK; then:Proposition 1:In steady-state:(i) µ= (1-exp[-(g-sKr)(D-A)])/(1-exp[-(g-s K r)(D-I)])(ii) If sK= g/r , thenµ= (D-A)/(D-I)(iii) More generally, µ>100%, µ’(r)>0, µ’(g)<0→steady-state inheritance flow b=µβ/(D-A) rises with r and declines with gProposition 2: In steady-state, corrected capital shareα*= weighted average between b and αFrom bequest flow to bequestwealth•WBt= capitalized bequest wealth at time t•WBt /Yt= ∫s<tBst/Ysexp(rst–gst) ds•Bst = bequests received at time s byindividuals alive at time t•rst = cumulated return to capital betweentime s and time t•gst = cumulated growth rate betweentime s and time t•Deterministic demographic structure:B st = Bsfor t-(D-I)<s<t, Bst= 0 for s<t-(D-I)→WB/Y = B/Y (exp[(r–g)(D-I)]-1) / (r-g)•Combined with B/Y = µm W/Y, one gets a simple formula for inheritance share in total wealth accumulation:→WB/W = µm (exp[(r–g)(D-I)]-1) / (r-g)→if r-g=0%, then WB/W = µm (D-I)If µ=200%, m=1.5%, D-I=30: WB/W=90%But if r-g=2%, then WB/W=123%;if r-g=4%, then WB/W=174%Application to lifetime inequality •1900s: Top 1% = 50% of wealth; Top 10% = 90%; Bottom50% = 0%-5%•2000s: Top 1% = 20% of wealth; Top 10% = 50%; Bottom50% = 5%-10%→B/Y might return to 20%-25%, but wealth concentration still much lower than1900…except that(net YL )/Y is now muchsmaller than in 1900: one needs to introduce taxes and transfersWhat have we learned?•Inheritance is likely to be a big issue in the 21st century•Modern economic growth did not kill inheritance; the rise of human capital and meritocracy simply did not happen •But no normative model…and life-cycle saving still exists: huge heterogenity in savings behavior across individuals•Main lesson: capital accumulation takes time…one should not look at the past10 or 20 yrs and believe this is steady-state…•Predictions: a lot depends on r vs g+n→China/India: inheritance doesn’t matter→US: inheritance smaller than in France→Italy, Spain, Germany (n<0): U-shaped pattern even bigger than France→world, very long run: g+n=0% (global warming): inheritance and past capital will dominate evrything; back to Marx。

16.______his surprise ,the in the meeting room .A) At B) To C) For D) With17. This company has two branches : one in Paris and _____in New York.A) anotherB) one otherC) the otherD) other18. ______to find the proper job, he decided to give up job-hunting in this city.A) failedB) Being failedC) To failD) Having failed19. The proposal____, we’ll have to make another decision about when to stat the project.A) acceptedB) acceptingC) to acceptD) be accepted20. We don’t deny that your products are superior in quality to _____ of Japanese make.A) the oneB) thatC) theseD) those21. It is required that anyone applying for a driver’s license__________ a set of tests.A) takeB) takesC) tookD) will take22. There is no evidence ___________ oil price will com down in the near future.A) whichB) thatC) whereD) as23. The policeman saw the thief ______ he appeared on the street corner.A) not untilB) as long asC) the momentD) only if24. The policem an kept his eyes ________ on the screen of the computer to identify the criminal’s footprints.A) fixedB) fixingC) being fixedD) to fix25. Tom _____the party there yesterday evening .A) can’t attendB) won’t have attendC) mustn’t attendD) couldn’t have attended26. The manager was (entire) __________unaware of the trouble with the heating system in the hotel until this week.27. By the end of next month, we (find) ___________a good solution to technical problem.28. The nurse told the visitors(not speak) _________so loudly as to disturb the patients.29. I’m afraid there is not much (differ) ____________ in their points of view.30. If he had taken his lawyer’s advice, he (save) _______himself a gr eat deal of trouble.31. (impress) ________by qualifications, they offered him a job in their firm.32. I am sure the secretary who has just been hired will prove to be an efficient (employ) ______.33. We all felt excited when China-succeeded in (launch) ______its first manned spaceship.34. We regret to inform you that we no longer manufacture the product you are (interest) _____in.35. The tall building(complete) _________last month is our new classroom building.16.There are two maps on the wall：one is a map of China，and ___________ is a map of the world.A) otherB) anotherC) the otherD) the others17. For years，doctors ___________millions of patients’ lives with .A) have savedB) ale savingC) will saveD) were saving18. Once more I have to leave Beijing，___________I have been living for eight years.A) thatB) whereC) whichD) as19. I was almost asleep last night when I suddenly heard someone _____at the door.A) be knockingB) knockingC) to knockD) having knocked20. The conference ___________in Beijing next week is bound to be a great success.A) holdingB) being heldC) to holdD) to be held21. It wasn’t such a good job ___________she had re ad about in the advertisement.A) likeB) whichC) asD) what22. It’s my great honor ___________to give a speech at the opening ceremony.A) to inviteB) invitingC) having invitedD) to be invited23. Not until yesterday _______project that will be completed soon.A) did I learnB) have I learntC) I learntD) that I learnt24. This problem is ___________his ability and I don’t think he can solve it.A) toB) inC) beyondD) under25. She didn’t go to the pa rty last night，___________she had to finish her term paper.A) ifB) thoughC) tillD) because26. The engineers spent the whole night(work) ___________on the new device.27. I’m not sure whether we can gain any profit from the(invest) ___________.28. The price of petrol is much(high) ___________now than it was this time last year.29. No one can deny that we(make) ______tremendous progress in the past twenty years.30. The research group has submitted a report，(suggest) ______reforms to be made.31. The people injured in the accident(send) ___________to the nearest hospital for treatment last night.32. The organization started a(nation) ___________campaign against cigarette smoking in public places.33. Application for this training course should be sent(direct) ___________to the admission office.34. the manager(pay) ___________more attention to the services for the customers.35. When(ask) ___________about the advertising campaign of the new product，the manager said it was a great success.16.Although ，he insisted _________going there together with us.A) toB) onC) atD) for17. I’ll ask Mr. Smith to ring you up _________he comes back to the o ffice.A) whenB) whereC) becauseD) although18. They regard _________as their duty to provide the best service for their customers.A) thisB) whatC) itD) that19. Not until the day before yesterday _________to give a speech at the meeting.A) he agreedB) does he agreeC) he agreesD) did he agree20. _________up at the clock on the wall，the secretary found it was already midnight.A) LookingB) LookC) To lookD) Looked21. The first textbook _________for teaching English as a foreign language came out in the 16th century.A) writingB) writtenC) to writeD) to be written22. Young _________he is，an able salesman.A) thatB) whoC) asD) which23. I don’t doubt _________the stock market will recover from the economic crisis.A) ifB) whatC) thatD) which24. In our company，great changes _________since the new manager came.A)took placeB) take placeC) will have taken placeD) have taken place25. News came from the sales manager _________the new product had been selling well in the local market for three months.A) whoseB) whatC) whichD) thatSection BDirections: There are 10 incomplete statements here. You should fill in each blank with the proper form of the word given in brackets. Write the word or words in the corresponding space on the Answer Sheet.26. Sandy made quite a number of(apply) _________for a management position but failed every time.27. The graduates had a(cheer) _________farewell party before leaving the college.28. Karl probably(see) _________“Star Wars” several times for he knows every detail of the film.29. Believe it or not，when first(introduce) _________to Europe，tomato was thought to be poisonous.30. A telephone user may pay a fixed monthly charge and(allow) _________to make an unlimited number of local calls in the month.31. I remember(see) _________you somewhere before，but I can’t tell the exact place.32. I don’t think it necessary(discuss) _________the the problem is settled.33. Since five managers are going to give their reports，the meeting(last) _________for at least two hours.34. Although he was(deep) _________hurt by what she said to him，he made no reply.35. It is strongly recommended that teachers(use) _________computers to assist in their classroom teaching.16.Most of the retired people are happy ________ their quiet life in the country- side.A) toB) ofC) withD) on17. My brother reference books, but ________ of them was of any use for my report.A) neitherB) noneC) eitherD) all18. I don’t regret ________ her what I thought about her proposal, even if it upset her.A) tellB) to tellC) toldD) telling19. ________ that I wasn’t going to get much chance for promotio n, I soon became bored with my work.A) To realizeB) RealizingC) Being realizedD) Realized20. Please note that Boston next week, ________ you want to call me and discuss things.A) in caseB) unlessC) untilD) so that21. I tried to get out of the business ________ I found impossible to carry on.A) whyB) whichC) whatD) where22. Jack would rather spend time complaining than ________ the problem by himself.A) solveB) solvedC) solvesD) to solve23. They will not start the project until the board chairman ________ back from South Africa.A) will comeB) is comingC) cameD) comes24. Scientists should be kept ________ of the latest developments in their research areas.A) informB) informingC) informedD) to inform25. Only when we had finished all the work ________ that it was too late to take a bus home.A) did we realizeB) will we realizeC) we did realizeD) we will realizeSection B Directions: There are 10 incomplete statements here. You should fill in each blank with the proper form of the word given in brackets. Write the word or words in the corresponding space on the Answer Sheet.26. Obviously, nuclear power can never be the only (solve) ________ to energy crisis.27. It was in his childhood that he read most of the books (write) ________ by Mark Twain.28. Nobody at the meeting would (belief) ________ that the new proposal could be carried out smoothly.29.If the rent is as much as $750 a month, water, gas and electricity should (include) ________.30. The lecture was so (bore)________ that many classroom fell asleep.31. Mr. Smith considered (sell) ________ his car and his house before moving to Beijing.32. My mother (enjoy) ________ a better health since we came to live in this beautiful seaside city.33. The government is trying to find a way to deal with the problem of pollution (effective) ________.34. The young man did not have enough money; otherwise he (buy) ________ a more expensive watch.35. With the help of the police, the woman finally found her (lose) ________ child after a sleepless night.16.Allan is looking forward to _______ the trade fair.A) meetB) meetingC) be meetingD) having met17. The sales manager had his secretary ________ a press conference for their new products.A) arrangeB) to arrangeC) have arrangedD) arranged18. The message ________ Mr. Black was elected chairman of the committee arrived just in time.A) whichB) whatC) thatD) how19. They had talked only for a few minutes ________ they found they were of different opinions.A) unlessB) whileC) beforeD) once20. By the time you month, I ________ my term paper.A) have completedB) completeC) am completingD) will have completed21. It is important to provide an environment ________ people are encouraged to make suggestions at all levels of the company.A) from whichB) on whichC) in whichD) for which22. The scientists wanted to keep people ________ about the breakthrough in their experiment.A) informB) informedC) informingD) to inform23. When I first arrived in Japan, I was surprised ________ the way people greeted each other.A) ofB) toC) withD) at24. Not until that day ________ the importance of good manners in a job interview.A) did I realizeB) I did realizeC) I have realizedD) have I realized25. The market economy is quickly changing people’s idea on ________ is accepted.A) thatB) whichC) whatD) howSection B Directions: There are 10 incomplete statements here. You should fill in each blank with the proper form of the word given in brackets. Write the word or words in the corresponding space on the Answer Sheet.26. He tried to solve the problem, but he (quick) ________ gave up.27. The guest paid (little) ________ money than he should for the room.28. It is far more (interest) ________ for me to chat online with friends than to watch TV.29. Finally the woman found her (lose) ________ child with the help of the police.30. a raise in salary because of his excellent (perform) ________ at work.31. This hospital, which (equip) ________ with modern facilities, is one of the best in the country.32. Before (write) ________ an application letter, you should be aware what kind of people the employer needs.33. In the past few years, traffic problems (become) ________ more and more serious.34. It’s really (wonder) ________ to see you here aga in in Beijing.35. If I (be) ________ you, I wouldn’t miss the job interview tomorrow morning.16. By the end of this year Mr. Smith ________in our company for exactly three years.A) is workingB) has workedC) will workD) will have worked17. I think that the Great Wall is worth ____________hundreds of miles to visit.A) to travelB) travelingC) traveledD) travel18. The new staff didn’t know how to use the system _________ I explained it to him yesterday.A) untilB) becauseC) ifD) since19. _____________is reported in the newspapers that the talks between the two companies have not made any progress.A) ThatB) WhatC) ItD) As20. __________by the failure of the project，the manager could hardly say a word.A) To be shockedB) ShockedC) Be shockedD) Shocking21. The first question we now discuss is _______early tomorrow.A) whetherB) whereC) whatD) whom22. He was attending a meeting, ________he would have come to your party yesterday.A) unlessB) whenC) butD) or23. Enclosed you ________an application form that you are asked to fill out.A) will findB) findC) foundD) are finding24. The auto industry spends large amounts of money on marketing campaigns _________young adult customers.A) attractB) attractedC) to attractD) attracts25. The advertising company recently hired a designer ____________had once won a prize in a national contest.A) whoseB) whichC) whomD) who26. Your daughter is(luck)______enough to have large company.27. After an(introduce)______by the chairperson，we’11 go on with the day’s discussion.28. We must keep the manager(inform)___________of the advertising campaign.29. It is suggested that the president of the Union(make)_______a speech on behalf of all the workers.30. Having been badly damaged by the earthquake，the city has to be(rebuild) _______.31. She described the ancient city in detail because she(live)_________there for years.32. The new university graduate is confident of(win)________the post as the assistant to the managing director.33. Successful companies concentrate(much)_______on selling their products to their existing customers than to their new ones.34. The local economy depends(heavy)________on the goods.35. With such a short time(leave)______,it's impossible for US to finish this complicated experiment.16. We must find a way to cut prices ________ reducing our profits too much.A) withoutB) despiteC) withD) for17. She didn’t know ________ to express her ideas in English clearly in public.A) whichB) whyC) whatD) how18. ________ the weather improves, we will suffer a huge loss in the tourist industry.A) AsB) SinceC) WhileD) Unless19. We are happy at the good news ________ Mr. Black has been awarded the Best Manager.A) thatB) whichC) whatD) whether20. It is important that we ________ the task ahead of time.A) will fishB) finishedC) finishD) shall finish21. Would you please pass me the book ________ cover is black?A) whichB) whoseC) thatD) its22. ________ in the company for three years, Mark has business negotiations.A) Having workedB) Have been workingC) Have workedD) Worked23. Not until she arrived at the meeting room ________ she had forgotten to bring the document.A) she realizedB) did she realizeC) she did realizeD) does she realize24. John had never been abroad before, ________ he found the business trip very exciting.A) becauseB) thoughC) soD) while25. ________ some students are able to find employment after graduation, others will have to return to school and earn an advanced degree.A) SinceB) WhileC) BecauseD) If26. Employees are not allowed (make) ________ personal phone calls in the office.27. The shop assistant priced the goods before (put) ________ them on the shelf.28. The purpose of new technology is to make life (easy) ________, not to make it more difficult.29. The proposal about the annual sales (discuss) ________ at the next board meeting.30. Since we of the company, we see each other only (occasional) ________.31. Some domestic manufacturers are busy increasing production, losing the chance to develop more (advance) ________ technology.32. I shall appreciate your effort in (correct) ________ this error in my bank account as soon as possible.33. If your neighbors are too noisy, then you have a good reason to make your (complain) ________.34. 30 who (interview) ________ yesterday believe they should continue with their education until they have a university degree.35. Measures should be taken to avoid the negative effect (bring) ________ about by unfair competition.。

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英语小作文投稿信开头好句全文共6篇示例，供读者参考篇1Dear Editor,My name is Timmy and I'm a 4th grader at Oakwood Elementary School. I love reading, writing stories, and learning about the world around me. That's why I was super excited when my teacher, Mrs. Jenkins, told our class about your magazine's writing contest for kids!Ever since I was a little kid, I've had a huge imagination. I'm always coming up with crazy ideas and wild tales to tell my parents, my little sister Sarah, and my best friend Jake. My dad says I'm going to be a famous author one day because of how much I love making up stories. That made me really happy to hear!When Mrs. Jenkins announced the writing contest, I knew right away I wanted to enter. I spent weeks thinking up the perfect story idea. I worked really hard on my submission, writing and rewriting it over and over until I thought it was absolutely perfect. I'm so proud of how it turned out!My story is called "Zorp's Galactic Adventure." It's about a little alien named Zorp who gets lost in outer space and has to find his way back home to his planet Bleep-Bloop 9. Along the way, he meets all sorts of crazy aliens and cosmic creatures. He has to use his smarts and some unlikely new friends to navigate black holes, rogue comets, and planets made entirely of pudding!I tried to make the story as exciting, imaginative, and funny as I could. I included tons of silly jokes and wacky situations that I hope will make kids my age laugh out loud as they read it. I also tried to include little lessons about friendship, bravery, and using your brain to solve problems. But most of all, I just wanted to tell an awesome story that kids would have a blast reading!I'm enclosing my full story submission along with this letter. I really hope you and the other judges enjoy reading "Zorp's Galactic Adventure" as much as I enjoyed writing it. It would be a dream come true to have my story published in your super cool magazine! Even if I don't win the contest though, I'm still so proud of the story I created. Writing it was an incredible experience that taught me a lot.Thank you so much for your time and for considering my submission. I'll be waiting by the mailbox eagerly for yourresponse! Writing and storytelling is my greatest passion, and I can't wait to keep creating amazing new tales.Sincerely,Timmy篇2Have you ever felt like you were on top of the world, like nothing could bring you down? That's exactly how I felt the day my essay got chosen for the school magazine! It was a regular Tuesday morning when Mrs. Jenkins, our English teacher, made the big announcement. "Class, I have some exciting news," she said with a bright smile. "The judges have made their decision, and one of your essays will be published in this year's issue of 'Young Writers.'"My heart started racing as she pulled out a neatly folded piece of paper from her bag. This was it – the moment I had been waiting for ever since we were given that writing assignment weeks ago. Mrs. Jenkins unfolded the paper and cleared her throat. "The winning essay is titled 'My Super Secret Hideout' by…" She paused for dramatic effect, and I could feel the anticipation building up inside me like a shaken soda bottle. "Sarah Henderson!"I couldn't believe my ears! A wide grin spread across my face as my best friend Jessica gave me a celebratory nudge. All those late nights of brainstorming ideas and revising drafts had finally paid off. As I made my way to the front of the classroom to collect my essay, I felt a surge of pride and accomplishment. This was just the beginning of my journey as a young writer, and I couldn't wait to see where it would take me next.Little did I know, this was only the first of many literary adventures that awaited me...篇3Dear Editor,My name is Timmy and I'm 10 years old. I love writing stories and reading books more than anything in the whole wide world! Ever since I learned how to put letters together to make words, I've been scribbling away in my notebook, dreaming up tales of adventure, fantasy, and fun. I know I'm just a kid, but I believe my stories deserve to be read and enjoyed by others too.One of my favorite things to write about is going on incredible journeys to imaginary lands. Like the time my best friend Billy and I stumbled upon a secret portal in the woods behind my house that led us to a world inhabited by talkinganimals! We had to outrun a grumpy old bear who didn't want us trespassing in his territory. But then we met a wise owl who told us the most amazing story about how the animal kingdom was in grave danger from an evil sorcerer trying to cast a spell to turn them all into regular, non-talking critters again...That's just a teeny tiny snippet of the 2,000-word adventure story I've enclosed for your consideration. It's filled with crazy characters, narrow escapes, and important lessons about friendship, courage, and appreciating the magical world around us. I worked really hard on making sure all the words were spelled right and that the story had a clear beginning, middle, and end with plenty of details and dialogue in between.I really hope you and your readers enjoy my tale as much as I enjoyed dreaming it up! Writing is my absolute favorite thing to do, and it would make me happier than a kid in a candy store if you decided to publish my story. Even if you don't, though, I'll keep on writing and writing because I just can't stop my imagination from running wild!Sincerely,Timmy篇4Dear Editor,I'm writing to you today because I have something really important to share. You see, I'm just a kid - a third grader to be exact. But even though I'm little, I have big dreams and big ideas that I think people should hear about.Ever since I was really small, I've always loved telling stories. I would make them up in my head during class or right before bedtime. My mom and dad say I have quite the imagination! I can vividly picture all the characters and scenes like I'm watching a movie in my mind. That's probably why I like reading and writing so much too.Last year, my teacher Mrs. Johnson had our class enter a young writers' contest. We had to write a original short story of 500 words or less. At first I wasn't sure what to write about, but then it hit me - I would write a tale about a young explorer who discovers a mythical civilization hidden deep in the rainforest! I spent weeks working on that story, drafting and revising it over and over until it was perfect.When Mrs. Johnson read my final story to the class, I was a nervous wreck. What if the other kids thought it was silly or babyish? But you know what happened? They loved it! Some even came up to me afterwards saying it was the best one andshould definitely win. Hearing those kind words gave me so much confidence. I thought, "Hey, maybe I am a pretty good writer after all!"Well, I ended up winning third place in that contest, which was incredible. From that moment on, I knew writing stories and books was something I absolutely had to pursue. Creating new worlds, characters, and adventures from scratch - there's nothing else quite like it.Over the past year, I've written dozens of new stories and even tried my hand at poetry too. I fill up notebook after notebook, scratching out words and reworking lines and paragraphs until I'm satisfied they are just right. My motivations come from the smallest, most ordinary things in life...篇5Dear Editor,My name is Jamie and I'm a 4th grader at Oakwood Elementary School. I really enjoy writing stories and poems, and my teacher Mrs. Roberts encouraged me to submit one of my creative writings to your magazine for young authors. I worked very hard on this short essay about my summer vacation adventures, and I hope you'll consider publishing it!Last summer, my family took an amazing road trip across the country. We traveled over 2,000 miles from our home in Ohio all the way to the Rocky Mountains in Colorado. The whole way there, I stared out the window at the changing landscapes. The flat fields of corn in the Midwest gave way to the rolling hills and forests as we drove westward. I was glued to my seat, captivated by the scenery whizzing by. Every bend in the road revealed new wonders—quirky roadside attractions, towering buttes and mesas, and the most brilliant sunsets I've ever seen painting the wide open skies in vibrant oranges, pinks and purples...篇6A Good Opening for Your Cover LetterHi there! My name is Jamie and I'm a 4th grader. Today I want to talk to you about writing really great opening sentences when you send in a cover letter. A cover letter is what you write to tell someone why you would be a good fit for a job you are applying for.The opening sentence is super important because it's the first thing the person reading your letter will see. It needs to grab their attention right away and make them interested in reading the rest of what you wrote. A boring opening sentence is likestarting a story with "Once upon a time..." - it's not very exciting and doesn't make the reader want to keep going.Instead, you want an opening line that makes the reader sit up and take notice. Maybe it shares an interesting fact or stat about the job or company. Or it could be a rhetorical question that makes the reader think. Or you could even start with a short personal story or experience that relates to why you're a good candidate. The possibilities are endless!Let me give you some examples of good opening sentences I've seen:"After redesigning my school's website as a coding project last year, I was amazed by how much an intuitive user experience can improve engagement."See how that one pulls the reader in by mentioning a cool project the writer worked on? It makes you interested to learn more about their experience.Here's another good one:"With award-winning marketing campaigns that boosted sales by 25% year-over-year, I've honed my skills for driving brand awareness and revenue."Starting with a impressive statistic grabs people's attention and establishes the writer's credibility right away.One more:"When I was just 9 years old, I developed a passionate love for computer programming that has only grown stronger over the years."This opening line uses a personal anecdote to introduce the person's longstanding interest and experience in the field. It's a more creative way to begin.Some other tips for strong opening sentences:Make it clear why you're excited and qualified for this specific role from the very first lineUse vivid language and avoid overused cliches that are boringKeep it relatively short and punchy (1-2 sentences max)Connect it directly to your key strengths and expertiseHighlight impressive accomplishments or experienceAsk a thought-provoking questionUse a quote or surprising fact/statisticAnd perhaps most importantly, tailor each opening line to the particular job you're pursuing. A generic statement isn't going to grab anyone's attention.Well, those are some of my tips for crafting a great opening to your cover letter! Getting it right can help you stand out among all the other applicants. Just don't put too much pressure on yourself - the opening is just one part of the whole package. As long as you're genuine and enthusiastic, you're sure to make a good impression.Let me know if you have any other questions! Getting a job is hard work but staying positive and preparing thoroughly can go a long way.。