rises in wealth in the cross-section of households in the Survey of Consumer Finances. For a given household, the portfolio … share can fall in response to an increase in wealth, even though the model implies decreasing relative risk aversion …

Both textbook economics and common sense teach us that the value of household wealth should be related to consumer … suggest. An important first step in understanding the consumption-wealth linkage is determining how closely the two variables … in consumption. This paper provides evidence that a surprisingly small fraction of the variation in household net worth …

and the risk-free rate. The calibrated model reproduces the skewness and kurtosis of the wealth distribution in the data … of wealth. We distinguish between passive traders who hold fixed portfolios of stocks and bonds, and active traders who … separately. We show that the fraction of total wealth held by active traders, not the fraction held by all participants, is …

technologies and are subject to both aggregate and idiosyncratic income risk. The different asset trading technologies, which are …

with greater wealth-at-risk are more likely to hold health insurance. The implicit insurance from bankruptcy distorts the …

We use data on stock portfolios of Norwegian households to show that stock market wealth increases entrepreneurship by … relaxing financial constraints. Our research design isolates idiosyncratic variation in household-level stock market returns …. An increase in stock market wealth increases the propensity to start a firm, with the response concentrated in households …

This paper re-examines the classic question of how a household should optimally allocate its portfolio between risky … stocks and risk-free bonds over its lifecycle. We show that allowing for the wage indexation of social security benefits …

how fluctuations in individual crypto wealth affect household consumption, equity investment, and local real estate … wealth causes house price appreciation--counties with higher crypto wealth see higher growth in home values following high …

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

median wealth plummeted by 44 percent over years 2007 to 2010. The inequality of net worth, after almost two decades of … in median net worth and the rise in overall wealth inequality over these years are largely traceable to the high leverage … of middle class families and the high share of homes in their portfolio. Mean and median wealth rebounded from 2010 to …