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 …

We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features … consumption inequality and wealth inequality. Second, a pension system reform from a defined benefit to a defined contribution … works to reinforce consumption inequality and reduce wealth inequality. Third, minimum pension benefits are able to …

-finding rates, wages and savings, so that we use the model to examine the role of age and wealth for worker flows and for the …

We analyze dynamic interactions between market insurance, the stock of insurable assets and liquid wealth accumulation … in which households own abundant liquid wealth. It turns out that precautionary motives still matter because of …

main focus of the paper is on transitional dynamics under different initial wealth levels. Whether an initially small … toward the informal sector even though the initial wealth level is high. Lowering taxes on formal activity joined with strict …

controlling for realized earnings and wealth. To explain this evidence, we develop and structurally estimate a standard … relevant for the consumption choices of households in the left tail of the wealth distribution. Furthermore, households with …