shares increase in household income and wealth. Yet, there is a multitude of numbers to match through models. Using a single … saving rates increase in wealth, too. The key is introducing subsistence consumption to an Epstein-Zin-Weil utility function …

wealth from the 1995 and 1998 waves of the Survey of Consumer Finances. In this survey, a new question has been designed to … elicit the amount of desired precautionary wealth. This allows us to assess the amount of precautionary accumulation and to … virtually every type of household. However, precautionary savings account for only 8 percent of total wealth holdings. Even …

We use responses to survey questions in the 2010 Italian Survey of Household Income and Wealth that ask consumers how …

for rigorous understanding of the main features of such models, including the existence of a target wealth ratio and the …

wealth shocks and unemployment during the Great Recession in the US. We find that many households experienced large capital … to consume with respect to housing and financial wealth are 1 and 3.3 percentage points, respectively. In addition, those … wealth shocks, splitting the sample between households who think that the stock market is likely to recover in a year's time …