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 …

Income volatility and wealth volatility are central objects of investigation for the literature on income and wealth … significantly higher values than income volatility, the effect being mostly driven by changes in the market value of real estate …

This paper examines the influence of parental wealth and income on children's college attendance and parental financing … parents and children. We find that higher levels of parents' wealth and income increase the likelihood that children attend …

This paper proposes and studies a theory of adaptive consumption behavior under income uncertainty and liquidity …

of an agent's level of consumption depends on his legal income and initial level of wealth, as conspicuous consumption by …

consumption is rarely measured because its collection requires a great deal of survey time. As a result income has been widely … used to assess economic well-being and poverty rates. Yet, because households can use wealth to consume more than income …, an income-based measure of well-being could yield misleading results for many households, especially at older ages. We …