suggests that increased credit availability accounts for most of the long-term saving decline, while fluctuations in wealth and …We argue that the US personal saving rate's long stability (1960s-1980s), subsequent steady decline (1980s-2007), and … of labor income uncertainty and credit constraints. Saving in the model is affected by the gap between target and actual …

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 … utility function across households (parsimony), we suggest a strategy for fitting stockholding numbers, while replicating that …

through retirement accounts only. Household characteristics influence stockholding through retirement accounts conditional on … owning retirement accounts, unlike what happens with stockholding through mutual funds. Although stockholding is more common … among retirement account owners, this fact is mainly due to their characteristics that led them to buy retirement accounts …

with the ownership of stocks, mutual funds and individual retirement accounts, as well as with the willingness to take …

: (i) the higher saving rates of the rich, (ii) the higher fraction of personal wealth held in risky assets by the rich … composition and saving rates across the rich and the poor, failing to reconcile the model with what micro data say. …

through retirement accounts only. Household characteristics influence stockholding through retirement accounts conditional on … owning retirement accounts, unlike what happens with stockholding through mutual funds. Although stockholding is more common … among retirement account owners, this fact is mainly due to their characteristics that led them to buy retirement accounts …

We investigate, using the 2002 US Health and Retirement Study, the factors influencing individuals' insecurity and … expectations about terrorism, and study the effects these last have on households' portfolio choices and spending patterns. We find … households from investing in stocks, mostly through the high levels of insecurity felt by females. Insecurity due to terrorism …

available at the household level, and individuals living in multimember households have the potential to share goods within the …

requires, should be easy to empirically disprove: since household-consumption choices differ for households with more members …

available at the household level, and individuals living in multimember households have the potential to share goods within the …