consumption expenditures fall. The paper argues that a simple variant of neoclassical growth model which distinguishes between …

Because financial transactions are important for wealth accumulation, and rely on trust and confidence in institutions …

features that policy makers are worried about: business investment, borrowing constraints, estate transmission, and wealth …

with several problems in measuring wealth. While many respondents report owning assets and liabilities, they often do not … calculate household wealth for the whole sample. We examine household wealth holdings by considering several measures of … families own. Overall, there is much heterogeneity in wealth holdings not only across but also within demographic groups. This …