-quarter of aggregate wealth, suggesting a larger role for life-cycle savings than some previous estimates. Despite the smaller … important effect on the savings decisions of recipients. Estimates suggest that past receipts of transfer wealth reduce life …This paper provides new evidence on the decomposition of aggregate household wealth into life-cycle and transfer wealth …

In this paper, we analyze the wealth accumulation and saving behavior of the retired elderly in Italy using micro data … from the “Survey of Italian Households’ Income and Wealth,” a panel survey of households conducted every two years by the … Bank of Italy. We find that, on average, the retired elderly in Italy are decumulating their wealth (dissaving) but that …

wealth accumulation is to finance future consumption, either their own or that of heirs. The paper concludes that the … simplest model that explains the relevant facts is one in which either consumers regard the accumulation of wealth as an end in … itself, or unspent wealth yields a flow of services (such as power or social status) which have the same practical effect on …

institutional differences for wealth accumulation and portfolio composition. Examples of implications are that the ratio of net … worth and gross wealth should be highest in Italy, that Dutch households should hold the lowest wealth levels at retirement …

Why do similar households end up with very different levels of wealth? We show that differences in the attitudes and … spend more time developing financial plans, and that this shift in planning effort is associated with increased wealth. The … why it is associated with wealth accumulation. Part of the answer lies in the very strong relationship we uncover between …

intergenerational transfers, an issue of current controversy. In both Japan and the United States, a substantial portion of wealth, and … the United States and Japan. Second, we use tax data to estimate the magnitude of intergenerational transfers. The … magnitude of intergenerational transfers provides aid in determining how much outstanding wealth is obtained through …

In this paper, I survey the previous literature on the saving behavior of the aged in Japan and then present some … survey data on the saving behavior of the aged in Japan that became available recently. To summarize the main findings of … that this model is highly applicable in the case of Japan …

Comparative Survey of Savings in Japan and the United States,' a binational survey conducted in 1996 by the Institute for Posts … and Telecommunications Policy of the Ministry of Posts and Telecommunications of the Government of Japan, in order to shed … the dominant model of household behavior in both countries but that it is far more applicable in Japan than it is in the U …

Research on intergenerational transmission of wealth has pointed to uncertainty -- about the date of one's own death …

, bequests, inheritances, inter vivos gifts) and wealth. The main message may be summarized as follows. Empirical evidence on … direction of (1) mixed motives (2) heterogeneity of preferences and (3) importance of retaining control over wealth. These … focus on understanding implications of inequality of inherited wealth: the topic that has been neglected in the past, even …