Many metropolitan areas in the United States display substantial racial segregation and substantial variation in incomes and house prices across neighborhoods. To what extent can this variation be summarized by a small number of representative (or synthetic) neighborhoods? To answer this...

The authors use multiple waves of the triennial Survey of Consumer Finances (SCF) from 1989 to 2013 to examine the composition of the asset portfolios of young households whose head of household is between 18 and 41 years of age. The focus is on households’ decisions to hold different types of...

This article estimates the coefficient of relative risk aversion for 75 countries using data on self-reports of personal well-being from the 2006 Gallup World Poll. The analysis suggests that the coefficient of relative risk aversion varies closely around 1, which corresponds to a logarithmic...