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 …

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 …

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

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 …

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

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 …

I use the Survey of Consumer Finances (SCF) to analyze wealth trends from 1983 to 2013. Asset prices plunged between … 2007 and 2010 but then rebounded from 2010 to 2013. Median wealth plummeted by 44 percent over years 2007 to 2010 and … wealth inequality was up sharply. These two movements can be traced to the high leverage of middle class families, the high …

median wealth plummeted by 44 percent over years 2007 to 2010, almost double the drop in housing prices. The inequality of … indebtedness. The sharp fall in median net worth and the rise in overall wealth inequality over these years are traceable primarily … disparity in wealth also widened considerably. Households under age 45 saw their relative and absolute wealth declined sharply …

Household survey data consistently depict large variations in saving and wealth among households with similar socio … accumulate" different levels of wealth for a variety of reasons, including variation in time preference rates risk tolerance … accumulated wealth" and the shape of the consumption profile. By examining this relation empirically for the presence or absence …