with a bequest motive, health-dependent utility, and uncertain longevity and health. We allow the parameters of the bequest …

information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk … do not impose any model structure on the consumption process. This suggests that Italian households do not have access to …

). Allowing for richer earnings dynamics implies a substantially better profit of the evolution of cross-sectional consumption … inequality over the life cycle and of the individual-level degree of consumption insurance against persistent earnings shocks …

We present a methodology for the structural empirical analysis of household consumption and time use behaviour under …