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 …

This paper examines long-term trends in aggregate wealth and inheritance and in their distributions, focusing on … developed economies. A key stylized fact is that wealth is less equally distributed than income. Financial assets predominate … among the wealthy, while owner-occupied housing is crucial for middle groups, so higher stock prices raise wealth inequality …

We use Norwegian administrative panel data on wealth and income between 1993 and 2015 to study lifecycle wealth … capital gains, and save at higher rates. At age 50, the excess wealth of the top 0.1% group relative to mid-wealth households … is accounted for in about equal terms by higher saving rates (34%), higher initial wealth (32%), and higher returns (27 …

We calibrate a sequence of four nested models to study the dynamics of wealth accumulation. Individuals maximize a … utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is …