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

consumption in the context of a simple two-asset portfolio-choice model is capable of qualitatively and quantitatively explaining …: (i) the higher saving rates of the rich, (ii) the higher fraction of personal wealth held in risky assets by the rich …, and (iii) the higher volatility of consumption of the wealthier. On the contrary, time-variant 'keeping …

, whereas debt declined most (so saving rose most) for unconstrained consumers. More generally, the results suggest that there …

We use data from the 2009 Internet Survey of the Health and Retirement Study to examine the consumption impact of …

The budget constraint requires that, eventually, consumption must adjust fully to any permanent shock to income … target, temporarily boosting saving. …

This paper provides a joint analysis of household stockholding participation, stock location among stockholding modes … through retirement accounts only. Household characteristics influence stockholding through retirement accounts conditional on …

This paper provides a joint analysis of household stockholding participation, stock location among stockholding modes … through retirement accounts only. Household characteristics influence stockholding through retirement accounts conditional on …

financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions … can result in improved saving behavior and financial decision-making, much can be done to improve these programs …