effect of wealth shocks on household consumption and individual expectations of the future. Many household experienced a … significant wealth shocks, but these shocks led to modest spending effects and small revisions to expectations regarding future … bequests. Expectations of bequests seem particularly tied to housing wealth. …

utility to differ between households with and without offspring. Our estimates imply a very strong utility of residual wealth …-quarters of aggregate wealth at age 85. More surprisingly, we estimate similar utility of residual wealth for households with and … without offspring. We interpret this as, prima facie, evidence that the utility of residual wealth represents forces beyond an …

estimate the effect of wealth shocks on household consumption and individual expectations of the future. Many household … experienced a significant wealth shocks, but these shocks led to modest spending effects and small revisions to expectations … regarding future bequests. Expectations of bequests seem particularly tied to housing wealth. …

English couple households born in the 1940s. Here, 'optimal' wealth holdings are those that allow households to enjoy the same … calculate this level of wealth, and compare that with how much wealth households are observed to hold. We find that the majority … of households hold more wealth than our model suggests is optimal and that this would still be true even if housing …

from the English Longitudinal Study of Ageing, an optimal level of wealth is calculated for each household. This is … compared to the levels of wealth observed in the data. Our results show that, for those born in the 1940s, the vast majority of … households have wealth levels far greater than necessary to maintain their living standards into and through retirement. …

newly-available data from the Wealth and Assets Survey. We identify a number of new stylised facts. Gifts and loans are … quintile. By contrast, they are larger as a share of current wealth for those with lower wealth levels, illustrating the … appear to be driven by regional wealth differences, those in the South of England are substantially more likely to give gifts …

Understanding the drivers of wealth transfers during life is crucial to understanding the intergenerational … on this, we analyse the relationships between giving and receiving significant wealth transfers and experiencing key life … events. We use newly-available data from the UK Wealth and Assets Survey to investigate recipients' self-reported transfer …