. This study adds to the discussion by providing causal estimates for the effect of transfer receipt on the savings behavior … of households. The model allows for dynamic adjustment and variations in the savings behavior over the wealth … transfer volume, the transfer incidence over the wealth distribution and the effect of the savings behavior. The results are …

We revisit the alleged retirement consumption puzzle. According to the life-cycle theory, foreseeable income reductions … endowments after retirement, the theory does predict a fall of total market consumption expenditures. In order not to mistake …-cycle theory. For retirees we also find significant effects of the income reduction at retirement on housing. However, the effects …

-sectional heterogeneity to establish a direct link between labor market reforms and changes in net foreign assets via a precautionary savings …

and savings decisions of singles and married couples. Partial insurance against wage and employment shocks is provided by … social programs, savings and the labor supplies of all adult household members. The optimal policy mix focuses mainly on …