We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for …

consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … wealth held in the form of housing (i.e., when stock and housing assets are substitutes), then they will temporarily reduce …

countries not exposed to the VAT shock. Income, wealth effects, or intratemporal substitution cannot explain these results. …

foreign households. Income or wealth effects do not appear to drive these results, and we do not find evidence of …

research has to ensure income, wealth effects, or intratemporal substitution channels cannot explain these results and ideally …