of cross-sections to estimate the age profile of assets is full of pitfalls. For example, if wealth and mortality are … paper examines the effect of differential mortality on cross-sectional estimates of wealth-age profiles. Our approach is to … quantify the dependence of mortality rates on wealth and use these estimates to 'correct' wealth-age profiles for sample …

Using panel data for a sample of households in Utah from 1850 to 1900 we find income and wealth age profiles that are … a relationship between age-income and age-wealth profiles that is consistent with a life-cycle model of consumption … given a concave and peaked age-income profile: households accumulate and then begin to draw down wealth holdings, the age-wealth …

While financial knowledge is strongly positively related to household wealth, there is also considerable cross … cycle model featuring endogenous financial knowledge accumulation. The model generates substantial wealth inequality, over … wealth accumulation and thus financial knowledge. Our simulations show that endogenous financial knowledge accumulation has …

We study the history and geography of wealth accumulation in the US, using newly collected historical property tax …, and financial), making it one of the first "wealth taxes." Drawing on many historical records, we construct long …-run, consistent, high-frequency wealth series at the county, state, and national levels. We first document the long-term evolution of …

According to the life-cycle model, mortality risk will influence both retirement and the desire to annuitize wealth. We …

We examine the role of changing mortality in explaining the rise of retirement over the course of the 20th century. We … of death. In an environment in which mortality is high, an individual who saved up for retirement would face a high risk …. As mortality falls, however, it becomes optimal to plan, and save for, retirement. We simulate our model using actual …

value for individuals and couples in the Health and Retirement Survey. Variation in the calculated annuity equivalent wealth …' arises from differences in mortality risk, marital status, risk aversion, and the presence of pre-existing annuities such as … Social Security. I find that a one-percentage point increase in the annuity equivalent wealth leads to nearly a one …

of consumption are the survival paths of each spouse, bequeathable wealth, the flow of annuities both before and after … bequeathable wealth react to variations in these determinants, and it compares the consumption level of a single person to a couple …. Summaries of wealth change and consumption in panel data are given which offer general support for the life-cycle model …

distribution of wealth, as well as the proper computation of age-wealth profiles. The conceptual points raised here are also …