We analyze the saving motives of European households using micro-data from the Household Finance and Consumption Survey … (HFCS), which is conducted by the European Central Bank. We find that the rank ordering of saving motives differs greatly … saving motive of European households when the proportion of households saving for each motive is used as the criterion to …

concavity of the utility function. This paper estimates the distribution of heterogeneous curvature parameters in individuals …

This paper studies how and why households adjust their spending, saving, and borrowing in response to transitory income …-making processes across households (the "why"). The combination of the quantitative estimation of household response dynamics with a … qualitative exploration of the mental models employed during financial decisions provides a more complete view of household …

Pareto Efficiency is a core assumption of most models of household decision-making. We test this assumption using a new … dataset covering the retirement saving contributions of over a million U.S. individuals. While a vast literature has failed to … reject household efficiency in developed countries, we find evidence of widespread inefficiency in our setting: retirement …

China's high household savings rate has attracted great academic interest but remains a puzzle. Potential explanations … include demographic, policy, and financial causes. Yet a lack of reliable microlevel data on household finances makes it … births and obtain a unique view into consumption and saving patterns around important life events. Our results point toward …

A substantial literature exists on the impact of pension schemes, both public and private, on the level of household … saving. Yet there is no clear consensus on the impact of pensions on private saving. In this paper we show how beliefs about … pension wealth (both private and social security) which we construct for each household in the sample, the estimated …

estimate both the composition of accumulated households having and prospective rates of return on this saving. The paper shows …-1979 macroeconomic recovery, particularly the dominant role of consumer spending, the unprecedented expansion of household debt, the boom … in housing, and declining flows of household savings into deposit institutions. These data underscore the unintended …