process using two data sets: the Panel Study of Income Dynamics and a large, synthetic, data set that matches the dynamics of … the data and better fits the savings of the households at the bottom 60% of the wealth distribution …

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 … relative importance of permanent and transitory innovations in the variation of consumer spending and wealth and find that …

The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts … accounts). We use survey data on household portfolios for the U.S., Canada, Australia, the U.K., Germany, France, Italy, and … hand-to-mouth suggests that these households may have a high marginal propensity to consume out of transitory income …

snapshots of household income and wealth from administrative tax registries to calculate household spending as the residual of … centered around zero on average, we demonstrate that they vary across individuals of different types and income levels and are …

Using panel data for a sample of households in Utah from 1850 to 1900 we find income and wealth age profiles that are … a relationship between age-income and age-wealth profiles that is consistent with a life-cycle model of consumption … given a concave and peaked age-income profile: households accumulate and then begin to draw down wealth holdings, the age-wealth …

Income volatility and wealth volatility are central objects of investigation for the literature on income and wealth … U.S. over the last two decades. Contrary to our expectations, we find that in both countries wealth volatility reaches … significantly higher values than income volatility, the effect being mostly driven by changes in the market value of real estate …

This paper examines the influence of parental wealth and income on children's college attendance and parental financing … parents and children. We find that higher levels of parents' wealth and income increase the likelihood that children attend … college with financial support relative to not attending college, and that parental wealth increases the likelihood that …

This paper proposes and studies a theory of adaptive consumption behavior under income uncertainty and liquidity … constraints. We assume that consumption is governed by a linear function of wealth, whose coefficients are revised each period by …

of an agent's level of consumption depends on his legal income and initial level of wealth, as conspicuous consumption by … consumption monitoring and wealth is observed, the effect of higher wealth on equilibrium bribes is ambiguous (and that the …

used to assess economic well-being and poverty rates. Yet, because households can use wealth to consume more than income … consumption is rarely measured because its collection requires a great deal of survey time. As a result income has been widely …, an income-based measure of well-being could yield misleading results for many households, especially at older ages. We …